DICE, the music discovery and ticketing platform, has acquired electronic music live streaming platform, Boiler Room.
The London-based company is continuing its upward trajectory after securing $122m (£90m/€105m) in Series C funding, with the round being led by investor SoftBank Vision Fund 2.
DICE capitalised on the demand for ticketed live streaming events during the COVID-19 pandemic. So far, the company has powered over 6,400 live streams.
Now, the platform will combine with Boiler Room’s music programming to offer a more developed and polished live stream fan experience.
Phil Hutcheon, founder and chief executive of DICE, said: “I’ve been a fan of Boiler Room for years and they’re world leading in bringing incredible experiences to fans. Blaise [Bellville, Boiler Room CEO] and I have been discussing for over a year how to support artists better and the more we spoke, the more excited we were to work together.”
He added: “The combination of Boiler Room with the distribution and technology of DICE creates substantial opportunities in a sustainable, transparent and fair model.”
The partnership will enhance Boiler Room’s live streaming offering, and hopes to drive additional revenue to artists, rights holders, collectives, festivals and clubs.
Bellville said: “DICE has built an incredible platform by being laser-focused on creating the best possible experience for fans and event partners – their app now has millions of music fans accessing live music around the world.
“My experience when talking to Phil was inspiring and he immediately recognised how important Boiler Room is, and how much potential we have.”
Boiler Room began as a webcam taped to a wall and offered fans a glimpse into London’s thriving underground music scene. Since 2010, the company has built an archive spanning over 8,000 performances by more than 5,000 artists across 200 cities.
Bellville added: “I believe deeply that the best way for Boiler Room to evolve is by partnering with a company that values what we are today, and provides the tools we need to grow into the future – we play to our strengths and they to theirs. DICE’s belief in ‘powering’ us but allowing Boiler Room to remain our own independent entity, all of this will enable us to move into a new era and be the best version of ourselves.”
A new Boiler Room board has been created, consisting of Terry Weerasinghe, Bellville, Ibtisam Omer and Hutcheon.