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7 Failed Music Startups & their Case Studies

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There are a lot of things to consider when building a new startup - where to get funding, how to validate your idea, and what features should the product have.

One of the challenges is finding a market that is willing to pay for your solution without even knowing what it is yet.

However, 90% of startups will fail and shut down.

In this article, you can find 7 failed Music startups as well as analyses on why they closed down.


7 Failed Music Startups

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Crowdmix

Crowdmix

Crowdmix was a music streaming platform where people could listen and talk about their favorite bands. They spent £14M before having a working product.

Details of the startup:

  • Founders:

    Gareth Ingham, Ian Roberts

  • Country:

    United Kingdom

  • Industry:

    Music

  • Started in:

    2013

  • Closed in:

    2016

  • Nº of employees:

    100-250

  • Funding Amount:

    $10M-$50M

  • Specific cause of failure:

    Mismanagement of Funds

You can read more about their failure here.

Grooveshark

Grooveshark

Grooveshark was a streaming music platform. Its major weakness was that it illegally streamed music. They were sued multiples times and had to shut down.

Details of the startup:

  • Founders:

    Andres Barreto, Josh Greenberg, Sam Tarantino

  • Country:

    United States

  • Industry:

    Music

  • Started in:

    2006

  • Closed in:

    2015

  • Nº of employees:

    50-100

  • Funding Amount:

    $1M-$10M

  • Specific cause of failure:

    Legal Challenges

You can read more about their failure here.

Radar Radio

Radar Radio

Radar Radio, a hub for emerging music talent online, ceased operations amidst a debt of £3.6M. Here's their story.

Details of the startup:

  • Founders:

    Ollie Ashley

  • Country:

    United Kingdom

  • Industry:

    Entertainment

  • Started in:

    2008

  • Closed in:

    2018

  • Nº of employees:

    10-50

  • Funding Amount:

    $0

  • Specific cause of failure:

    Mismanagement of Funds

You can read more about their failure here.

Rdio

Rdio

Rdio, a music streaming platform, failed due to poor marketing and distribution, ultimately folding to competition from Spotify and closing down.

Details of the startup:

  • Founders:

    Carter Adamson, Janus Friis, Niklas Zennström

  • Country:

    United States

  • Industry:

    Music

  • Started in:

    2008

  • Closed in:

    2015

  • Nº of employees:

    50-100

  • Funding Amount:

    > $50M

  • Specific cause of failure:

    Competition

You can read more about their failure here.

Sharingear

Sharingear

Sharinger was a marketplace for musicians to rent their instruments. They focused on a market that was too small and the business model was unsustainable.

Details of the startup:

  • Founders:

    Mircea Gabriel Eftemie

  • Country:

    Denmark

  • Industry:

    Music

  • Started in:

    2014

  • Closed in:

    2015

  • Nº of employees:

    1-10

  • Funding Amount:

    < $1M

  • Specific cause of failure:

    Multiple Reasons

You can read more about their failure here.

Stereomood

Stereomood

Stereomood was a music platform that provided mood-based song listings. The company was acquired but they weren’t able to make a profit.

Details of the startup:

  • Founders:

    Daniele Novaga, Eleonora Viviani, Giovanni Ferron, Maurizio Pratici

  • Country:

    Italy

  • Industry:

    Music

  • Started in:

    2009

  • Closed in:

    2015

  • Nº of employees:

    10-50

  • Funding Amount:

    No Data

  • Specific cause of failure:

    Acquisition Flu

You can read more about their failure here.

Turntable.fm

Turntable.fm

Turntable.fm was a platform on which DJ and fans were brought together. The cost of running it proved to be too expensive and they had to shut down.

Details of the startup:

  • Founders:

    Billy Chasen

  • Country:

    United States

  • Industry:

    Music

  • Started in:

    2011

  • Closed in:

    2013

  • Nº of employees:

    1-10

  • Funding Amount:

    $1M-$10M

  • Specific cause of failure:

    Bad Business Model

You can read more about their failure here.

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