Output Secure $45 Mill Investment

US A good sign for the creative industry 22/10/20

Output have been growing in reputation and reach in the past few years, their instruments, sounds and software being popular in many contemporary productions.

Their product Arcade sounds and loop instrument "delivering a playable instrument that lets you perform and manipulate loops in real time"

Some interesting statistics around Output and the Arcade platform:

More than 50% of sessions result in the writing of a new track
The average user locks in a track within fifteen minutes
More than 420,000 musicians supported by the Arcade platform since 2018
300% increase in MRR (Monthly Recurring Revenue) in the last 12 months

Obviously they have big plans to grow more, and have secured $45 million in round A funding from Summit Partners.

We plan to leverage this investment to support Output's continued global growth and expansion of our digital production platform, including the addition of playable instruments and mobile applications in 2021. We are excited to offer one of the first SaaS solutions at this scale to offer loops, samples and melodic content in one unified platform for music creation. There is so much more to come at Output and we look forward to continuing to provide the most innovative music-making technology to our community.

Whats encouraging about this is that investment in the creative sector is actually happening, and it would appear to be a smart move, even if many areas of the music industry are suffering with the current restrictions.

For the full press release: https://www.summitpartners.com/news/output-announces-45-million-series-a-investment-from-summit-partners

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