The AI-powered music video platform has 13 million active monthly users and 60 million total downloads
Ryan Kavanaugh’s Proxima Media on Wednesday announced an eight-figure investment in Triller, the AI-powered music video platform Triller, a TikTok rival that has reported 13 million active monthly users and 60 million total downloads.
The investment is worth $28 million, according to an individual with knowledge of the arrangement. The new funds will be used to fuel continued growth and product enhancements to a platform built for music sharing, content creation, and artist discovery in the music industry.
Continue reading
Join WrapPRO for Exclusive Content,
Full Video Access, Premium Events, and More!
Bobby Sarnevesht, partner at Proxima Media and now executive chairman of Triller, will take operational control of the company as part of the investment. “Triller has grown at an incredible rate in a competitive market, and has fundamentally expanded opportunities for content creators to reach new audiences,” he said in a statement. “Now, with the added support of Proxima Media’s access to well known professionally generated content and IP, we are confident Triller will become the go-to platform for music social sharing.”
Proxima also brought in a number of strategic investors, including Silicon Valley veteran, Mahi de Silva, who will also assume the role of Triller’s chairman.
Triller reports the highest engagement of any music social platform in terms of daily time spent on the app, with users spending an average of 20 minutes per day and creators spending over one hour. The company recently acquired MashTraxx, a machine-learning platform for music and video editing, with nine industry-defining patents.
The platform boasts music licensing partnerships with top studios, including Warner Music Group, Sony Music Entertainment, and Universal, allow users to create content with an extensive catalog of music and share it across multiple social platforms, without the need to navigate licensing fees. Triller has been integral in helping Tyga go 6x Platinum with “Taste” and YG go 2x Platinum with “Big Bank,” fueling the discovery of breakout artist 10k.Caash andSeth Vangeldren, and is credited by Lil Nas X as the platform that helped launch “Old Town Road.” The app continues to gain popularity within the music industry with top artists such as Chance the Rapper, DaBaby, Halsey, and BTS, who utilize it for music promotion.
“Triller prioritizes creators, allowing them to showcase their work and connect with their audiences through the universal language of music,” Triller CEO Mike Lu said in a statement. “This funding round reflects broad support from savvy, successful investors that appreciate our relentless focus on artist discovery and continuous expansion of Triller’s groundbreaking AI technology. Proxima Media’s team and expertise give us access to unparalleled content and IP.”
De Sivla added: “Triller has a created a vibrant community bringing together creators, artists, license holders, labels and consumers, to foster and encourage large scale consumption and monetization, for all involved parties, on music around the world unlike competitors like Tik Tok.”
Eurovision's 9 Most Famous and Bizarre Moments, From ABBA to Russian Grandmas (Videos)
-
Eurovision's most famous winners are undoubtedly Swedish band ABBA, who managed to take their win in 1974 for "Waterloo," and build it into international stardom.
-
Another famous victor is Celine Dion, who rose to stardom through Eurovision before "My Heart Will Go On" ensured her everlasting fame.
-
Eurovision's first big song came from Italian singer Domenico Modguno back in 1958. The track was called "Volare," and although it didn't win, it reached the top of the U.S. Billboard charts for five weeks and nabbed two Grammys. David Bowie, Frank Sinatra, and Andrea Bocelli are among the singers who have put their own spin on the song.
-
In 2014, Eurovision made headlines again when LGBT star Conchita Wurst claimed victory for Austria. Conchita's win was attacked by Russian conservatives as a sign that the European Union would lead to moral corruption in Russia, but that didn't stop Conchita from becoming the biggest icon Eurovision had produced in years.
-
2012's competition was won by the Swedish singer Loreen and her song "Euphoria." The song received critical acclaim throughout the continent, topped the charts in 17 countries, and is regarded as one of the best songs ever performed on Eurovision.
-
Not all of them are masterpieces, though. Latvian group Pirates of the Sea made a song called "Wolves of the Sea" that may go down as the cheesiest pirate song ever made. Surprisingly, it became a smash hit in South Africa, where it has become an anthem for their national rugby team.
-
From time to time, the Nordic countries eschew europop and send in a heavy metal band to liven things up. For Finland, this tactic actually gave them their first win in 2006, thanks to the monster band Lordi and their song "Hard Rock Hallelujah"
-
One of the more beloved acts in recent memory was Buranovskiye Babushki, a group of eight Russian grandmas that finished as runner-ups in 2012.
-
Some former contestants from "The X Factor" have competed on Eurovision. The most infamous was the Irish twin group Jedward, who were beloved by British teen girls but by no one else. They finished 19th.
Eurovision helped launch Celine Dion’s career — and gave 15 minutes of fame to the some of the weirdest musical acts ever
Thom Geier
Executive Editor • thom.geier@thewrap.com • Twitter: @thomgeier