Musations: Peter Graham
The app start-up's founder discusses combining two popular industries, having no direct competitor and a versatile team...
Name: Peter Graham
Company name: Musations
Date launched: 16/04/2015
Tell us what your business does:
We’re a social media app that allows people to share their feelings via music. The content can be created by the user or taken from sources such as iTunes and YouTube.
Aspiring artists can create audio and video content that is shared across the platform, and if the content is sufficiently liked it will be presented to record labels and artist managers.
Where did the idea for your business come from?
The record producer on our team, Tony Fennell, and the artist, Brenda Edwards, wanted to be able to publish music independently of a record label. The idea was developed to include social media compatibility and that’s how we got to where we are now…
How did you know there was a market for it?
Currently social media apps do not focus on music; however, music is a common language and something people use to express their personality and feelings. As people use social media to share we saw the opportunity to bring sharing and music together. There are no existing competitors that can bring aspiring artists and record labels together.
What were you doing before starting up?
The Musations team all have different professional experience and skills, from music production, financial services, and app development, to the insurance industry.
Have you always wanted to run your own business?
We have each done this in the past within different industries but here there was the opportunity to get into the wild side of the music and the tech world!
How did you raise the money?
We’re a self-funded business as two of the current executives provided capital.
Describe your business model and how you make money:
Most of the app functions are free but we have some premium features that are only available via a subscription. In addition to the premium features, we also make money from advertising and through people downloading music from within the app.
Lastly, by paying a one-off fee aspiring artists can pay to have their creation seen by many more carefully selected people – this helps them gain popularity on the app and could result in them being discovered by a record label.
What challenges have you faced and how have you overcome them?
We are only a few weeks in, the challenges are to come. However, as the app has so many different functions it is not always easy to succinctly explain what the it does.
What was your first big breakthrough?
Getting Edelman to support our launch, and getting our first artist on board.
What advice would you give to budding entrepreneurs?
Don’t be afraid of failing, keep trying and trust your gut instinct.
Where do you want to be in five years’ time?
Celebrating Musations’ continued success!