Remember the MySpace days when people had a song cued to play when someone visited their profile?
Music is such a personal thing that many of us make our favorite genres and artists a core part of our identities, on display to pretty much anyone who will listen. It's a dynamic that has been explored in many ways, dating back to the advent of concerts and radio through to the curated lists and live-streaming channels of today.
EarBuds, an Austin music tech startup, is wielding the power of our shared music experiences in a new way by letting users tune into what each other are listening to in real-time on platforms including Spotify and Apple Music, in addition to browsing playlists and sharing data that can provide deep insights to fuel the startup's future business models.
The company, founded by CEO and former NFL offensive lineman Jason Fox, has made waves by winning endorsements and investments from high-profile NFL players, including star quarterbacks Patrick Mahomes and Baker Mayfield. More recently, NFL quarterback Bryce Petty joined as an investor, although EarBuds declined to say how much he invested.
But don't think EarBuds is just about hearing what QBs are jamming to during a pre-game warmup.
The startup has raised about $3 million in venture capital from angel investors in the NFL, as well as at Live Nation, Facebook and Austin's Ecliptic Capital.
EarBuds sees a long story of growth ahead as it gears up to raise a series A investment round. Meanwhile, it plans to expand its app to connect with two major streaming platforms, although the company declined to name them ahead of launch.
As it eyes new opportunities, EarBuds recently hired Chris Gannett as its president. Gannett is a former chief marketing officer at CKX Inc., which owned and produced "American Idol."
Fox and Gannett met at Techstars Austin when EarBuds was part of the accelerator. Gannett became an adviser and investor. Then, they later reconnected when Gannett exited a prior venture. As a team, they say they have a broad network that can help amplify EarBuds globally.
EarBuds now has six full-time employees, mostly based in Austin, and it expects to make new hires later this year.
Gannett said the company is currently focused on improving its product and expanding its reach. But EarBuds is setting itself up to collect unique user data on listening preferences, geography and usage that could provide entertainers, venues and advertisers new ways to reach larger audiences.
And Fox says the app gets even more usage from friends tuning in with friends for fun — people working out together or on a run — than it does from the more headline-worthy use cases with star quarterbacks.
"Still the majority of our listeners and the amount of songs played on a weekly or monthly basis is still dominated by these more common, more reoccurring elements," he said.
Gannett said EarBuds has a 40% retention rate for users on day one. It ramps retention up to 50% a week after users have downloaded the app, which is currently only available on Apple, though an Android waiting list has been set up. The company has more than 200 verified profiles from pro athletes and influencers on its platform.
"We're getting a really good return on the product itself, and beyond that we're getting really good market validation," he said.
To capture what EarBuds has built, Gannett brings up a scene in "High Fidelity" when a record store clerk predicts he will quickly sell five copies of a Beta Band album by just putting one of their best songs on the store sound system. Quickly, heads start nodding and people start looking for the album.
"We found a way to kind of bring that back in a very modern kind of social mixing way," he said. "So, you know, that big demand gap for for a social music experience is met by what Jason has built, in what together we're building and taking forward."
Editor's note: An earlier version of this story misstated Gannett's position with CKX. It has also been updated to note Gannett exited his prior business, as well as correct the spelling of Bryce Petty's name.
