Sega invests in Indian music startup Flutin
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Feb 25, 2020 | investment | Sega | Not disclosed |
Japanese games giant Sega has invested in an Indian music startup called Flutin.
As reported via Music Business Worldwide, the move was confirmed as part of the firm's a further advancement into the music space. Flutin boasts nine million downloads with over 300,000 daily active users.
No details were revealed concerning exactly how much capital Sega has invested.
63 per cent of total music revenue in Japan comes from independent music, according to Flutin CEO Vishu Gupta.
Advancing into music
"Sega has often taken a broad view of entertainment, within and outside the gaming space, and looked for meaningful partners and investment opportunities," said Sega investment director Toshihisa Kiyomiya.
"In markets like India and in areas like streaming music and music-based mobile apps, we see a great potential for growth and innovation, which is why we’re excited to support Flutin as it continues to create value for musicians and music lovers worldwide."
Sega has been finding more and more success out of the games space, with the Sonic the Hedgehog movie surpassing $200 million in 10 days alone.
Read the full story on PCGamesInsider.biz.
Companies
