PledgeMusic Acquires Set fm, Names Matt Peterson GM
September 28, 2016 at 11:37 AM (PT)
PLEDGEMUSIC has acquired SET FM, with the latter's founder/CEO MATT PETERSON, adding the title of GM for PLEDGEMUSIC, reporting to CEO DOMINIC PANDISCIA. The SET FM platform allows artists to capture, promote, and sell recordings of their live performances. Launched by PETERSON in 2012, the free service creates new revenue streams for performing artists and is a natural fit in PLEDGEMUSIC’s expanding direct-to-fan ecosystem.
SET FM joins recently acquired NOISE TRADE in the PLEDGEMUSIC family of companies, with its base of more than 3 million music fans directly engaging with the artists they love. Its technologies provide over 50,000 artists and musicians with ways to connect with those fans and add newfound revenue opportunities.
Commented PLEDGE MUSIC's PANIDISCIA: “The alignment of SET FM with NOISE TRADE into PLEDGE MUSIC creates a singular ecosystem where artists of every level of development can create content and use that content to grow and manage their fan base. Our ultimate goal is helping artists and labels generate significant revenue while delivering a great experience for superfans, and having MATT lead our efforts in one of the most thriving music towns on the map is very exciting.”
PETERSON is a 13-year mobile content veteran with strong experience launching and growing mobile content ecosystems and a lifelong musician. He previously held positions with SAFFRON DIGITAL, SAMSUNG TELECOMMUNICATIONS AMERICA and AT&T MOBILITY, SET FM has been a fixture on the GREATER AUSTIN CHAMBER OF COMMERCE “A-List” of the city’s most promising startups.
Added PETERSON: “SET FM exists to change the way that artists and fans interact, a philosophy at the very core of what makes PLEDGE MUSIC so special. Combining our expertise in creating high-value live content with PLEDGE MUSIC’s best-of-breed platform for directly engaging fans will create a richer experience for all involved.“
The acquisition underscores major PLEDGE MUSIC investors MAGNA ENTERTAINMENT’s and their co-investor and advisor SWORD ROWE & COMPANY's growing commitment to music-focused properties and distribution vehicles that support the creative community in reaching their commercial objectives, while remaining true to their artistic visions.