Fan Following rise for Spoon Radio as it gets over 10 million downloads

In the world of live audio streaming – Korean startup Mykoon’s real-time radio broadcast service Spoon Radio is thriving with over 10 million downloads for its app. The live audio streaming app has garnered many fans across the world for its authentic broadcast experience and digital support to young DJs.

Spoon DJs earn fans and money

Mykoon was founded in 2013 by Neil Choi and is headquartered in Gangnam, South Korea. The company started Spoon Radio in 2016 in Korea and is now available in Japan, Vietnam, Indonesia, Africa, the US, and recently the Middle East as well. Spoon’s unique point is that it enables live streamers to make money through the app.

Spoon’s DJs can stream their music using the app and earn through the listener’s tips, which several times surpass an average salary of a traditional radio DJ. Top DJs even make over $10,000 a year. Spoon allows interaction with fans and community of listeners, which helps the artists to improve their art, and its online presence allows DJ’s to establish fans across the world.

Spoon Radio app exceeded 10 million downloads last year, with more than 55,000 broadcasts on an average per day. For listeners, they can listen to the music of their taste and communicate with the DJs on live chat. As per the startup’s report, 70% of Spoon Radio users are international users. It has found massive success in Japan and the US. The term ‘Spooner’ has become as popular as a ‘YouTube’ or ‘Influencer’ in the countries it is broadcast.

“We have proven that our model works at a global scale. We look forward to significantly growing our community in the US & other English-speaking markets as well as continuing to dominate in Japan & Korea,”

Neil Choi, CEO, Mykoon to media.

Fresh investments and expansion in the US

The startup has a strong foundation, with $59.6 million total funding received to date. Mykoon received its Series B funding of $40 million in December 2019 from KB Investment as a leading investor. IMM Investment, SBI Investment, and Naver were other investors.

To expand and upgrade its services in the Western world, the company hired Fernando Pizarro as Vice President, North America last year. Fernando has been a top media and internet executive with companies like Discovery Communications, Disney, and Yahoo. The company is set to open its office in San Fransisco soon. The startup is committed to providing quality entertainment to the Gen-Z and has the vision to be a global leader in the live audio streaming sector.

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February 14,2020

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About James Jung

James Jung is a Senior Technology Reporter for KoreaTechDesk.

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