The music streaming wars are far from over. While big players like Spotify, Apple, and Amazon fight to make their music apps the go-to option for listening to the latest hit tracks from well-known artists such as Beyoncé, Drake, and Mumford & Sons, young startups still see room in the market for new services to help people discover and share music.
Like with any consumer tech product, the question is whether these upstarts have what it takes to build a loyal following—and a sustainable business—before the money runs out or they get crushed by much bigger competitors.
One young venture giving it a shot is LÜM (pronounced loom, thanks to the umlaut), which stands for “Live Undiscovered Music.” The company aims to help fledgling, often-neglected musicians build an online fan base and, if successful, move into live shows and other areas of the industry, and even “graduate” to other streaming services, says Max Fergus, LÜM’s 23-year-old co-founder and CEO.
Fergus describes LÜM as a music discovery and streaming platform for the “next generation.” The app’s evolving interface, a bit of a mix between music-streaming service Spotify and photo- and video-sharing app Instagram, lets users control what they hear and then promote performers they like. The mobile app is free, and a desktop version will be developed soon, he says. Read the full story here.