What is MyMusicTaste? MyMusicTaste Review

MyMusicTaste was founded in 2013 and is a concert crowdsourcing website. The company's main business is to understand the potential number of people attending a concert through data, and to work directly with concert organizers and artists. On the one hand, it relies on fan data to provide services, and on the other hand, it needs a team with curatorial capabilities to assist in completing this high-consumption activity.

About MyMusicTaste

MyMusicTaste is a platform that satisfies users. Fans can vote online for the stars they want to see, and then the platform will contact the stars to negotiate performances. It is a fan economy product that is completely fan-driven.

When MyMusicTaste sorts out the voting data on the website, it can not only see how many fans voted for a certain star, but also obtain data on the amount of money fans spent on the concert. This information not only reduces the risk of the concert organizer, but also can better drive the success of the concert. In order to confirm the feasibility of this data, MyMusicTaste's questionnaire is very straightforward and simple. For example, it asks users how much they are willing to spend on tickets. In addition, it also requires fans to have a "social mission", and sometimes requires them to share the star's video clips on social media to further determine whether the fan really likes the voted star.

Although MyMusicTaste is based in Seoul, the majority of its users are from outside of Korea, with 37% coming from Asia, 27% from Europe, 20% from North America, and 14% from South America. In 2016, MyMusicTaste added 15 languages ​​and attracted new users from Russia, France, Portugal, Indonesia, and other countries.

Income Sources

MyMusicTaste's revenue comes from commissions from concert tickets held through the platform.

Development History

-MyMusicTaste was established in Seoul in 2013.

-In April 2013, MyMusicTaste launched a beta platform that allows fans to create concert plans.

-In December 2013, the full version of MyMusicTaste was launched.

In 2014, MyMusicTaste’s revenue was $250,000.

-As of October 2015, MyMusicTaste has accumulated more than 5 million members.

-In December 2015, MyMusicTaste received the Korean Presidential Award.

-In March 2016, MyMusicTaste launched its second generation website with a new look and new features.

-In December 2016, MyMusicTaste received US$10 million in Series A funding, led by SoftBank Korea, with participation from Samsung Ventures, Silicon Valley’s famous venture capital firm FoRMAtion 8, Golden Gate Ventures, Timewise Investment, Partners Investment, Bokwang Ventures and DeTong Capital.

-In November 2017, MyMusicTaste announced that it had received a US$11 million Series C financing, led by KTB Network, with participation from Samsung Ventures, Formation 8, Stonebridge CAPItal, SoftBank Ventures Korea, Golden Gate Ventures, Bokwang Investment and YellowDog.

- As of 2017, MyMusicTaste has 132 million users worldwide and works with 56 promotion agencies and 30 intermediaries. MyMusicTaste has planned more than 140 events in 32 cities.