In episode I of Chris Dixon’s Founder Stories interview with Turntable.fm’s, Billy Chasen, Chasen said most of his investors backed Turntable’s transition from Stickybits to Turntable, with the exception being an investor who simply wasn’t a fan of the music space.
In this episode, Dixon says a lack of understanding – or lack of enthusiasm for music startups has been a common theme in the VC community, but thinks the mindset might be changing thanks to companies like Spotify and Pandora. Chasen agrees – and takes a bit of mystery out of how Turntable navigates music rights before fielding questions about Turntable’s plan to monetize.
In a nutshell, Chasen says securing music rights is “becoming easier and easier” and as long as Turntable operates as “digital radio in the US” the rules they have to follow are pretty defined. He notes, if we were “to go international then [we’d] have to start talking to quite a few more of the rights holders.”
As for growing the company, Chasen tells Dixon he is a fan of an organic approach and says any plans to generate revenue would have to “make the experience better.” Options could include “virtual goods” or anything else that adds “to the experience” but at this stage, solidifying a business model is not the primary focus. He tells Dixon, “the top priority right now is to nail product and fix anything that is not working.”
Make sure to watch the entire video for additional insights and be sure to check out episode I of this interview here.
Past episodes of Founder Stories featuring leaders including Mayor Bloomberg & Fred Wilson are here.
Episode III of this interview is coming up.