Live&Loud, a UK-based company that matches up hospitality venues and music artists, aiming to make it easier than ever to book live gigs, has successfully secured its initial £500,000 funding target through its equity crowdfunding round on Crowdcube. The campaign was launched last month and has attracted more than 100 Crowdcube investors.
Live&Loud reported that its platform acts as a digital broker between artists and venues which aims to make it easier than ever to organize events. The platform also allows artists to promote themselves, and venues to find artists relevant to their needs.
“The two parties then interact directly to plan, book, promote & update the gig. We work on a freemium model to venues and charge 15% commission to artists on booking through the platform.”
Live&Loud also revealed that it has worked with more than 13,000 artists, arranged over 5,000 events and have established a relationship with some of the UK’s leading hospitality brands.
“We believe ‘The Live Music Act’ amendment of 2015 has been game-changing in allowing 121,300 UK premises to host live music without a live music license. Research shows that there’s 44-60% growth in sales when a venue hosts live music; 80% of customers will stay longer in a venue if there is live music, while 70% will spend more.”
In regards to what the funds from the Crowdcube will be used for, Live&Loud added:
“This investment will enable us to scale up our operation by growing our team as well as rolling out our UK-wide marketing campaign.”
The crowdfunding campaign is currently set to close at the end of April.
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