Financing music interactivity
MXP4 million. Interactive music outfit MXP4 has secured $4 million in a round of financing led by Orkos Capital. The company says the funds will be used to accelerate the rollout of the ‘MXP4 Everywhere Roadmap’, aimed at ensuring the interactive music technology is available in third party services, apps and music formats.
“In the past year, more than 100 major recording artists including David Guetta, Michael Jackson and Britney Spears. and major brands including Air France Music and Coca Cola have used MXP4 powered web and iPhone interactive music apps to drive engagement, viral distribution and purchases,” the company says. “MXP4 data shows that fans use interactive music for an average of 9.1 minutes per track, drive 75% of traffic virally and click through to purchase as much as 3% of the time.”
“By reinventing the way music is played with today and in the future, MXP4 is proving that interactive music is a real revenue opportunity for the music, media and marketing industries,” says CEO Albin Serviant. “MXP4 brings to the music the experience the same benefits as 3D does for the movie industry.”
