SoundOut In The Black As It Expands
June 30, 2014 at 12:37 PM (PT)
Next generation pre-release music testing firm SOUNDOUT reached profitability in 2014 and has raised $1 million at a $25 million valuation from new and existing investors to consolidate its position in music and to aggressively expand into new vertical markets, the first being fashion.
SOUNDOUT is the most powerful and accurate consumer research service for predicting hit potential for the global music industry, delivering millions of reviews and analysis a year to all the major record label groups as well as tens of thousands of independent artists.
“We have record labels representing almost 70% of the music industry on board as clients, as well as unparalleled exposure and engagement with tens of thousands of independent artists," SOUNDOUT Founder/CEO DAVID COURTIER-DUTTON said: It is now time to replicate our highly scalable crowdsourced model in new market verticals. Fashion is a huge market with many similarities to music, and we are delighted that the accuracy of our predictions has created a huge appetite for SOUNDOUT Retail’s services in the retail fashion industry.”
SOUNDOUT’s unique and patent pending analytics engine is entirely powered by over 500,000 music and fashion consumers who rate and review new music and garments 24 hours a day, 7 days a week. Results are normalized and compared against SOUNDOUT’s proprietary ever growing database, currently consisting of over 12 million reviews and ratings.