Modern recording studios have been struggling to find a way to scale to match the content demands of streaming services such as Spotify and Apple Music while lowering prices for more accessibility to the expanding demographic of “bedroom recording artists.” Some studios have opened to rehearsal audiences looking for ways to compensate for lost revenues, but the industry is too fragmented and decentralized to offer a standard experience.
Argona developed a business model and business plan that provided for a Soundspace software solution that offers a single source for creating affordable and standardized, scalable access to music-making spaces that anyone from home studio musicians to multi-million dollar studios can set up for membership income with complete flexibility for the next generation of creative spaces. Argona also developed, tested and launched a software Beta, devised the Soundspace go-to-market strategy and is active in formulating Soundspace’s fundraising strategy and campaign.
Currently, Soundspace has 75 paid memberships to Soundspace Beta out of a maximum room potential of 80 memberships. These members generate a Monthly Recurring Revenue of ~$6000 from the memberships in place. Soundspace is currently is in an active raise of $1,000,000 in equity funding.