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A new social music platform just hit 1 million users. Here's the pitch deck it used to close its $8 million seed round.
- Hangout, a social music platform, has reached 1.1 million users since launching in November 2021.
- Users can listen to music and chat via queueable songs within listening rooms that include 100 million full-length tracks on the platform.
- The platform is monetized primarily through a freemium model, with paid subscriptions starting at $5 a month.
- Hangout has the backing of major labels like Sony Music, Universal Music Group, and Warner Music Group.
- Hangout's founder, Joseph Perla, has built a similar product previously as the VP of technology of Turntable.fm, which briefly ran from 2011 to 2013.
- Hangout aims to be a solution to the craving for new social networking platforms.
- Hangout's pitch deck for its $8.2 million seed round is shared in this article, which includes a roadmap for 2025 and future growth scenarios.
- Hangout also wants to market artist's albums and tours, having already hosted listening parties and AMAs with notable musicians.
- It focuses on putting connection and harmony within the music listening experience.
- Hangout's launch comes at a time when music streaming services like Spotify and TikTok are also trying to capture this space.
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