Anghami and NetEase Cloud Music aren’t the only music streaming services with plans to go public this year.
TREBEL, a free music streaming app that allows users to legally download a catalog of over 15 million licensed songs at no cost, has filed for an IPO in the United States.
According to the company’s recent SEC filing, the app, which is available on Android and iOS, is supported by premium advertisers and has “strong relationships with the world’s biggest record labels,” including Universal Music Group, Sony Music Entertainment, and Warner Music Group.
Other partners listed on the company’s website include EMPIRE, DashGo, The Orchard, and Five Music Group.
As first reported by Axios, TREBEL explains in its SEC filing that its target market is “over 3 billion music listeners worldwide who will not – or be able to – pay for subscriptions. musical ”.
This audience, says TREBEL, “primarily uses music pirating sites and apps” and video-sharing platforms such as YouTube, which the company says “offer sub-optimal user experiences and unfair monetization. for content owners ”.
As TREBEL explains in its brief, the app offers a music store where users can search, browse, preview, and download music.
TREBEL, who is led by CEO and co-founder Gary Mekikian, describes his app as “an advertising machine,” which “serves ads that balance revenue generation with user experience.”
TREBEL’s record also reveals that monthly active users of the app increased 59% year-on-year as of December 31, 2020 to reach 3.2 million.
For the years ended December 31, 2019 and 2020, the company generated $ 1.88 million and $ 2.33 million in revenue, respectively, representing a growth rate of 23%.
The company explains that it generates revenue using a business model that combines traditional advertising and “multimodal monetization”.
Explaining what this means on the record, TREBEL says, “Like mobile games, our business model and technology is designed to maximize revenue by providing users with the ability to watch ads, purchase virtual goods and participate. to brand experiences in exchange for consuming premium content. like songs and albums by their favorite artists ”.
“Our mission is to enable billions of people around the world to access music on demand and other digital media in a safe and legal environment while capturing the billions of dollars lost each year to piracy. and music video applications that would otherwise be owed to artists and rights holders. . “
Says TREBLE: “Our core value for music listeners is our ability to combine on-demand and offline song playback, making the most essential features available free to billions of music listeners who can’t. or do not want to subscribe to the premium services available. free of charge.
“Our mission is to enable billions of people around the world to access music on demand and other digital media in a safe and legal environment while capturing the billions of dollars lost each year to piracy. and music video applications that would otherwise be owed to artists and rights holders. . “Music trade around the world