B-Concept Media, a leading Thai marketing firm and event-production company, has secured $5 million in investor funding.
B-Concept Media officials revealed their brand’s capital influx this morning. The 15-year-old company will use the cash to optimize and develop existing technologies and services during the COVID-19 crisis.
The Bangkok business helps clients to amplify their online presences, execute brick-and-mortar promotional initiatives, and hold all manner of events. On the music front specifically, B-Concept Media links its signed artists – including Alphaville, Billy Ocean, and Rick Astley – with customers who wish to equip their functions with live entertainment.
More broadly, B-Concept Media has set its sights on the quickly growing live event sphere. Last month, it acquired M-Productions Asia, a meetings and events coordinator that also operates out of Thailand’s capital. Additionally, the entity is in the process of developing TixTaQ, a proprietary ticketing technology.
Speaking of the multimillion-dollar investment, CEO William Kuipers said, “With the funding, we continue to implement our mission and create live experiences with digital solutions to connect fans and businesses to these events and technologies help these communities to have meaningful conversations online and offline.”
Earlier today, Digital Music News was first to report that Swedish music sampling startup Tracklib had secured its own round of funding, raising $4.5 million from investors including the Sony Innovation Fund and Spinnin’ Records co-founder Eelko van Kooten.
Though the coronavirus pandemic continues to impact the music industry (and especially the crowd-based event sphere), companies are still betting big on highly lucrative emerging markets, including those of many Asian nations.
In April, for instance, Warner Music Group officially launched its Vietnam branch, with Lisa Nguyen serving as managing director. Shortly before that, the Big Three record label planted a flag in India, which has seen its music industry more than double in value during the last decade.