Drift, a UK-based livestreaming business, acquired Dreamstage, a Dover, DE-based provider of a live streaming technology and sales platform.
The amount of the deal – which brings together Driift’s production capabilities with Dreamstage’s technology and commerce platform – was not disclosed. The combined business will continue under the Driift name as an independent entity, run by CEO Ric Salmon and COO Claire Mas.
Drift also received a £4M investment from Deezer (EURONEXT: DEEZR), the global music streaming service. Investing in both businesses in 2021 and 2022, Deezer remained a minority shareholder in Driift, and became a majority shareholder in Dreamstage, before the transaction. As a result of the business combination and its additional investment, Deezer will become the largest shareholder of Driift.
Dreamstage has delivered over 70 live shows since its launch in 2020, including Polo G, Chief Keef, Yo-Yo Ma, Train, Sean Paul, Mastodon and, in partnership with Driift, Dita Von Tesse, Little Mix, and Jonny Greenwood and Thom Yorke’s new band, The Smile. Its capabilities allow artists to engage their fanbase in interactive live streaming events and monetize these via ticket sales, brand sponsorship, merchandising, VIP experiences, and charity donations.
Founded in August 2020 by Ric Salmon and Brian Message of ATC Management, Drift is a producer, promoter and platform for livestream events for artists and performers, including The Smile, Jack Johnson, HAIM, Coldplay, Jorja Smith, Michael Kiwanuka, Laura Marling, Nick Cave, Niall Horan, Andrea Bocelli, Kylie Minogue, Little Mix and Dita Von Teese.
Deezer is one of the largest independent music streaming platforms in the world, with more than 90 million tracks available in 180 countries, providing access to HiFi audio, innovative recommendation technology and industry defining features. Founded in 2007 in Paris, Deezer is now a global company with a team of over 600 people based in France, Germany, UK, Brazil and the US. It is listed on the Professional Segment of Euronext Paris (DEEZR) (ISIN: FR001400AYG6) and is also part of the newly-created Euronext Tech Leaders segment, dedicated to European high-growth tech companies, and its associated index.
FinSMEs
02/10/2022