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VCs are still keen to put their money in to online music startups, it seems. Paris-based MXP4, which makes web players that let users remix and otherwise “engage” with songs, is taking a $4 million third round.
Founded by execs of Musiwave, Vivendi (EPA: VIV), EMI Music and DivX (NSDQ: DIVX), MXP4 doesn’t concern itself with shifting tracks, whether by sale or by ad support, first and foremost. Instead, it sells its range of web widgets to labels, brands others – letting website users switch on or off instruments within tracks or singalong with the song.
The idea is, this interaction can make websites stickier and could give an added reason to buy music downloads. The company says users play with the widget for 9.1 minutes and buy three percent of the resulting tracks. MXP4 technology is also available for iPhone.
The funding is led by Paris-based Goojet funder Orkos Capital and includes Stremezzo backer Sofinnova and Eyeka investor Ventech, both of which previously invested in MXP4. The company says the funds will support development of its MXP4 Everywhere project – a strategy to spread the widgets far and wide.
Use MXP4 to remix the forthcoming World Cup 2010 song, which is about to get very infectious (don’t worry; you can turn off the vocals)…
And here’s one Coke has used for a brand campaign…