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| Popstars go gaga for streaming audio |
| Friday, 05 August 2011 00:00 |
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Two of the biggest names in pop music have reportedly made investments in streaming audio venture Turntable.fm.
Between them, Lady Gaga and Kanye West have six platinum-selling albums, five number ones, 19 Grammys and a host of other accolades so you would think they know a good idea when it comes to music. The pair have reportedly invested their own cash into Turntable.fm - a company launched by serial entrepreneur Billy Chasen in January - that provides streaming music solutions for online chatrooms. In total, the two music stars are believed to have contributed towards the company's latest $7.5 million (£4.61 million) venture capital drive. Elsewhere, European streaming music business Spotify has set its sights on becoming the most comprehensive streaming audio provider across the globe, expanding its audio library to acquire "all the world's music". The company's co-founder and chief executive Daniel Ek recently commented that the firm is focused on the US at present and hopes to attract up to 50 million American users over the next 12 months. Posted by Thomas Price  |