Sofar Sounds raises $25m…but are artists being short-changed?
Sofar, which organises shows in homes and other non-traditional venues, is celebrating a "mind-blowing" funding round – but has been attacked for how it pays artists
News By IQ | 22 May 2019
Sofar Sounds, the ‘secret gig’ platform which stages shows in people’s living rooms, has secured a US$25 million funding round, bringing total investment to a reported $31m.
The new funds, announced in a blog post by Sofar founder Rafe Offer, will give the UK-born company – which specialises in concerts held in “unusual, spontaneous places”, with show locations kept under wraps until the last minute – will go “directly back to our mission of helping artists and fans connect in a true and meaningful way”, says Offer, including growing the opportunities available to participating artists.
“Ten years ago, when I founded Sofar as a hobby with some friends, I never would have dreamed we’d be where we are today,” he comments. “Today, Sofar Sounds announced a…
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