Since I’m an active musician, I’m always scoping the market for new software tools to assist with the organization of tasks associated with today’s music industry. With a lot of players in this space, it’s crucial for a new company to identify their target customers and really hone in on their competitive positioning. By doing this, they’ll be growing their business efficiently and not wasting time barking up the wrong trees.
A company called BandCentral just officially launched a few weeks ago, and has a growing online buzz after their soft launch over a year ago earned them the Microsoft BizSpark Accelerator Finalist nomination at the 2010 SXSW Music & Interactive Festival. BandCentral is an online management platform for unsigned bands, or managers in the music industry. Being a musician, it does seem to have some qualities that are enticing to someone like myself. They seem to have found a way to differentiate themselves from their competitors with some new valuable offerings. Other buzzworthy companies in the music services space like Sonicbids and Nimbit, have already taken on some growth capital to help them with their endeavors. In fact, many companies in this space have raised a significant amount of venture capital funding over the past few years, and it is very likely that BandCentral will soon be attracting the attention of some of the top venture capital firms in the industry.