SESSIONS INVESTS $75 MILLION IN LIVESTREAM PERFORMANCES – [READ]

Livestreaming has become increasingly imperative to the music industry in the wake of the international pandemic, yet the lack of live performances have left aspiring artists without an equal opportunity to gain bigger audiences or promote their music in the ways which were possible pre-COVID. Tom Westergren offers a solution; the CEO of Pandora and co-founder of Sessions created a $75 million dollar marketing fund to promote live performances, bolster audience development, and help musicians receive compensation for their work.

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Teaming up with Gordon Su after his departure from Pandora in 2017, Westergren envisions a livestream revolution and the manifestation of a “musician’s middle class” created by analytical marketing strategies that work to more evenly distribute listenership and visibility for musicians. Motivated by their concern for the monetary loss artists are facing in the era of COVID, Westergren and Su frame their mission statement around appreciation and support for the artists.  “We have a very simple goal: To help artists earn… Our business model essentially makes us a true partner to the artist. I think that’s a first for digital music.”

Live in over 200 countries, both amateur and professional artists are continuing to perform via the live streaming service and able to sustain themselves doing what they love. From relatively recent successful artists such as Icona Pop and Eric Nam to musical legends including Bare Naked Ladies and EnVogue, the live streaming industry is booming with innovative technology and eager investors. Su emphasizes the finesse and revolutionary capabilities; “It has taken ten years to develop this software and hone these capabilities…Sessions finds, attracts, and monetizes fandom at a rate never seen before in this industry.

Sessions is not without competition. Exron Music reported earlier this week on the investment deadmau5 has made into streaming service Stream VooDoo (story here), one of many contributors to innovative live streaming services. Especially crucial in the era of COVID, live stream services like Sessions can help musicians continue to build a fan base, monetize their music, collaborate more efficiently, and bless the world with their talent on a global scale.