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Business News Media
LoveLive announces new funding
By Chris Cooke | Published on Monday 30 September 2013
Music content maker LoveLive last week announced it had raised £1.7 million in new funding to fuel further and global expansion. The new investment has come from a consortium of private investors, including Andurand Capital owner Pierre Andurand, Maker Studios Executive Chairman Ynon Kreiz, and John Gleasure, Andy Measham and Oliver Slipper from Perform Group.
Commenting on the new funding, LoveLive chief Richard Cohen told CMU: “In the last five years our approach to bringing together artists, labels and brands to create and commercialise high-quality music content has been incredibly successful. Brands understand the power music has to connect them with fans and the music business continues to innovate, as developments in networks and devices take VOD from the early-adopter margins into the commercial mainstream”.
He added: “Revenues are growing rapidly and we expect them to accelerate in coming years – it’s the perfect time for LoveLive to seek significant external funding and move into the next stage of our growth – now we have an incredible investor team to help us achieve our ambitious goals”.
