Anghami and NetEase Cloud Music aren’t the only music streaming services with IPO plans this year.
TREBEL, a free music streaming app that allows users to legally download for free from a catalog of over 15 million licensed songs, has filed for an IPO in the US.
According to the company’s latest SEC filing, the app, which is available for both Android and iOS, is endorsed 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 are EMPIRE, DashGo, The Orchard and Cinq Music Group.
As reported for the first time by Axios, TREBEL explains in its SEC filing that its target market is the “over 3 billion music listeners worldwide who will not or cannot pay for music subscriptions”.
These audiences, TREBEL claims, “primarily use music piracy sites and apps” and video-sharing platforms like YouTube, both of which, the company says, “deliver suboptimal experiences for users and unfair monetization for content owners.”
As TREBEL explains in its submission, the app has a music store where users can search, browse, preview, and download music.
TREBEL, run by CEO and co-founder of Gary Mekikian, describes its app as “an advertising machine” that delivers “ads that align revenue generation with user experience.”
TREBEL’s submission also shows that the monthly active users of the app as of December 31, 2020 increased by 59% year-on-year to 3.2 million.
For the years ended December 31, 2019 and 2020, the company had sales of $ 1.88 million and $ 2.33 million, respectively, representing a growth rate of 23%.
The company states that it generates revenue through a business model that combines traditional advertising and “multimodal monetization”.
TREBEL explains in the submission what this means: “Like mobile games, our business model and technology are designed to maximize sales by giving users the opportunity to view ads, buy virtual goods and brand experiences in exchange for consumption of premium content such as songs and albums from their favorite artists ”.
“Our mission is to enable billions of people around the world to access on-demand music and other digital media in a safe and legal environment while saving billions of dollars lost every year to piracy and music video apps, that would otherwise be due to artists and rights holders. “
TREBLE explains, “Our core value for music listeners is our ability to combine on-demand and offline song play to provide free features that are essential for billions of music listeners who cannot or do not want to subscribe to the premium services available that matter most At no cost.
“Our mission is to enable billions of people around the world to access on-demand music and other digital media in a safe and legal environment, while saving billions of dollars that are lost every year to piracy and music video apps, that would otherwise be due to artists and rights holders. “Music business worldwide