CÜR Media Nears Official Launch of New Social Music Platform
CÜR Media (OTCQB: CURM) recently announced the release of the Beta version of its next generation social music experience for the Android platform. With this latest release, the Company’s social mobile and web streaming music application is now in final testing on all devices.
When released later this year, CÜR Music will unlock the true expressive nature of an individual's connection with their music by fostering personalization, sharing and creativity. With CÜR Music it's not just about streaming, it's about what the music means to you and how you want to express that to the world.
While the market for streaming music came in at only $1 billion of the $7 billion U.S. recorded music industry in 2012, experts forecast that 70% of revenue in the digital music space will come from streaming and subscription services by 2019. It’s this enormous shift in market dynamics that’s driving premium valuations for major players such as Pandora and Spotify.
Pandora’s (NYSE: P) market cap of $3 billion and 76.5 million monthly active users has given it a value of approximately $41 per monthly active user, and its market cap reached as high as $8 billion in 2014.
Spotify, which is currently private, reported 60 million monthly active users and 15 million paid subscribers at year end 2014, and a recent reported from Manhattan Venture Research valued Spotify at $5.7 billion, or $96 per monthly active user and $383 per paid subscriber.
CURM fills a significant unmet market need in this multibillion dollar market, and the potential of CÜR Music has attracted the attention of several media industry veterans.
CURM’s board includes John Lack, founder of MTV, Nickelodeon, The Movie Channel, and ESPN2, who serves as chairman, while the former CEO of RCA Records, Bob Jamieson, serves as vice chairman.
Successful internet entrepreneur Tom Brophy serves as CEO of CURM, and the company’s chief programming officer, Jay Clark, hails from SiriusXM where he was program chief.
CURM is targeting the large and influential 12-34 year old demographic with its next-generation social music experience. In a 2,000 person survey conducted by Toluna Research, there was a clear demand for a social music experience in this demographic, with 58% of respondents saying they would invite their friends and 56% of respondents saying they would subscribe to CÜR Music.
For investors, CURM represents a compelling opportunity. Operating in a multibillion market undergoing significant change, under the guidance of some of the biggest names in entertainment, the near-term launch of CURM’s next generation social music experience could lead to big stock gains.
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