Flutin Music Service Receives Investment from SEGA Group24 February 2020 - Press release
Flutin is announcing an investment partnership with SEGA, part of the well-known gaming and digital entertainment's expansion into new, promising companies. The investment will enable Flutin to further strengthen its user base in key markets like the US. Based in India but growing across the globe, Flutin offers listeners recommendations that purposefully surface emerging artists they'll love, based on their activities, locations, and musical loves.
"Investing in Flutin is part of SEGA's effort to advance into the music industry. They believe in us because of the approach we are taking in supporting emerging musicians and providing them substantial tools to grow their fanbase. 63% of total music revenue in Japan comes from independent music, and SEGA understands that this will be reflected globally in a few years," notes Flutin founder and CEO Vishu Gupta. "They believe that platforms like Flutin that support emerging artists and help surface new talent in the industry are going to play a vital role in the next wave of change in the music industry."
"SEGA has often taken a broad view of entertainment, within and outside the gaming space, and looked for meaningful partners and investment opportunities," says Toshihisa Kiyomiya, investment director of SEGA. "In markets like India and in areas like streaming music and music-based mobile apps, we see a great potential for growth and innovation, which is why we're excited to support Flutin as it continues to create value for musicians and music lovers worldwide."