Mixcloud Announces Encore Acquisition, Targets ‘A New Phase’ for the Musician-Booking Platform
Mixcloud has announced the acquisition of Encore, through which clients can book musicians to play private events. Photo Credit: Mixcloud
Superfan-geared streaming platform Mixcloud has announced the acquisition of Encore, through which clients can book musicians for live performances.
The London-based companies just recently revealed their agreement, pointing out as well that the transaction coincides with Mixcloud’s 15th anniversary. Decade-old Encore, on the other hand, bills itself as today’s “fastest way to find and book great musicians.”
Offering access to talent across a variety of categories, genres, and event types, per its website, UK-focused Encore is said to have facilitated north of 50,000 bookings to date.
Now, the businesses (which opted against publicly disclosing the sale’s financial specifics) say they’re poised to coordinate on a “united effort to build tools for communities to grow, monetize and connect through music.”
At the top level, that will see Encore keep on operating independently while Mixcloud drives “the next stages of the company’s product.”
Additionally, Mixcloud co-founder Nikhil Shah (who first backed Encore half a decade ago) is set to sign on as Encore’s chairman. In this role, the longtime angel investor is expected to “provide strategic guidance as Encore enters a new phase,” the involved parties indicated.
Addressing the deal, Encore co-founder and CEO James McAulay touched on the inherent opportunities associated with uniting the community and talent-booking platforms.
“Teaming up with Mixcloud,” the exec communicated in part, “a company we’ve long admired who have made an enormous impact on music culture, feels like the perfect next step. I’m excited about unlocking the next chapter of Encore’s growth with the support of Mixcloud to build a larger ecosystem and deliver more opportunities, earnings, and tools to our incredible musicians.”
In comments of his own, Mixcloud co-founder and longtime CEO Nico Perez emphasized an objective of capitalizing on his company’s “global reach and resources” to help musicians “earn a living and connect with their audiences in new and innovative ways.”
Especially amid the continued industry-wide embrace of superfan monetization, it’ll be worth monitoring the byproducts (possibly including an expansion into new markets) of Mixcloud’s Encore buyout. Of course, it stands to reason that a portion of diehard supporters are interested in booking proper musicians for various special occasions and events.
And particularly in light of the eye-watering costs attached to attending certain gigs at present, it might prove easier than ever for prospective customers to justify tapping talent for private happenings.
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