{"id":86524,"date":"2022-07-04T14:20:08","date_gmt":"2022-07-04T14:20:08","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=133753"},"modified":"2022-07-04T14:20:08","modified_gmt":"2022-07-04T14:20:08","slug":"iceland-based-music-making-app-overtune-raises-2m-in-seed-funding","status":"publish","type":"post","link":"https:\/\/businessnewsbox.com\/?p=86524","title":{"rendered":"Iceland-based music making app Overtune raises $2m in seed funding"},"content":{"rendered":"

Reykjavik, Iceland-born music-making app Overtune has closed a USD $2 million seed round.<\/p>\n

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Overtune allows smartphone users to arrange beats, record vocals and share content to their socials.<\/p>\n

The startup says that its shareholders include Charles Huang, founder of gaming franchise Guitar Hero, and former CEO and chairman of Sony Music UK [134 articles]” href=”https:\/\/www.musicbusinessworldwide.com\/companies\/sony\/sony-music-group\/sony-music-entertainment\/sony-music-uk\/”>Sony Music UK<\/a> Nick Gatfield.<\/p>\n

Amongst the firm\u2019s new investors are media company Whynow, founded by<\/a> Mick Jagger\u2019s son Gabriel Jagger.<\/p>\n

Overtune was founded in 2020 by Sigurdur Arnason, Jason Dadi Gudjonsson and Petur Eggerz Petursson.<\/p>\n

Overtune says that it ams to \u201cdemocratize music creation\u201d and bills itself as a way to create original music for social media content on platforms such as TikTok and Instagram [323 articles]” href=”https:\/\/www.musicbusinessworldwide.com\/companies\/facebook\/instagram\/”>Instagram<\/a>.<\/p>\n

On the loop-based music creation app, users can make beats based on genres or themed sound packs, such as \u2018Nightclub in Berlin\u2019.<\/p>\n

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Users can then program drums, create melodies, and record and harmonize vocals to create social media audio content.<\/p>\n

Overtune is the latest music-making app to raise a multi-million dollar round of funding.<\/p>\n

In May 2021, Rapchat, a music-making app and discovery platform for hip hop artists, closed<\/a> a $2.3m funding round led by venture capital firm Adjacent and Sony Music Entertainment [1,200 articles]” href=”https:\/\/www.musicbusinessworldwide.com\/companies\/sony\/sony-music-group\/sony-music-entertainment\/”>Sony Music Entertainment<\/a>.<\/p>\n

In April 2022, social music-making platform BandLab revealed<\/a> that it raised $65 million in a Series B round, with a post-money valuation of $315 million.<\/p>\n

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\u201cI am thrilled to have Gabriel and the whynow team on board at Overtune.\u201d<\/span><\/p>\n

Sigurdur Arnason, Overtune<\/span><\/p>\n<\/blockquote>\n

Sigurdur Arnason, co-founder and CEO at Overtune, said: \u201cI am thrilled to have Gabriel and the Whynow team on board at Overtune.<\/p>\n

\u201cIn a few short weeks they have impressed me with their agility and startup mindset.\u201d<\/p>\n

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\u201cTraditional music apps (is_ locking many out of the content creation economy.\u201d<\/p>\n

Petur Eggerz Petursson, Overtune<\/span><\/p>\n<\/blockquote>\n

Petur Eggerz Petursson, co-founder, added: \u201cTraditional music apps and composition programs have been accessible only to individuals with extensive technical and musical expertise, locking many out of the content creation economy.\u201d<\/p>\n

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\u201cVirality on Social media is powerful, yet unpredictable.\u201d<\/p>\n

Jason Dadi Gudjonsson, overtune<\/span><\/p>\n<\/blockquote>\n

Jason Dadi Gudjonsson, co-founder, said: \u201cVirality on Social media is powerful, yet unpredictable.<\/p>\n

\u201cWith the increase of TikTok and Instagram Reels content the modern media format has changed.<\/p>\n

\u201cOvertune is made to fit the needs of the creative social media users who want to be able to create content on the fly \u2013 giving users a tool that allows them to project their own identity through sound rather than relying on pre-existing songs when making content.\u201dMusic Business Worldwide<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Reykjavik, Iceland-born music-making app Overtune has closed a USD $2 million seed round. Overtune allows smartphone users to arrange beats, record vocals and share content to their socials. The startup says that its shareholders include Charles Huang, founder of gaming franchise Guitar Hero, and former CEO and chairman of Sony Music UK [134 articles]” href=”https:\/\/www.musicbusinessworldwide.com\/companies\/sony\/sony-music-group\/sony-music-entertainment\/sony-music-uk\/”>Sony […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119],"tags":[],"class_list":["post-86524","post","type-post","status-publish","format-standard","hentry","category-music-business-worldwide"],"_links":{"self":[{"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/posts\/86524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=86524"}],"version-history":[{"count":0,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/posts\/86524\/revisions"}],"wp:attachment":[{"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=86524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=86524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=86524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}