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French music technology platform MXP4 raises €3 million

22 April 2010 17:45
By Tornado Staff

MXP4, a France-based developer of interactive music solutions, has secured a €3 million round of financing led by Orkos Capital. Previous backers Sofinnova Partners and Ventech also participated in the round. The proceeds will be used to rollout the MXP4 Everywhere roadmap, which focuses on making the company’s technology available in third party services, applications and music formats.

The music solutions from MXP4 allow consumers to interact with songs and “play with” the music. With MXP4-powered music files, fans can make their own remixes of songs, sing along to tracks, or strip down the song to listen to different instruments.

By making the music experience more engaging the company hopes to appeal to brands, advertisers, media portals, mobile applications, music distribution platforms and third-party music formats. The company boasts that 100 recording artists - including David Guetta, Michael Jackson and Britney Spears - and brands such as Air France Music and Coca Cola have used MXP4-powered Web and iPhone music applications to drive engagement, viral distribution and purchases. It states that its own data reveal that fans use interactive music for an average of 9.1 minutes per track, drive 75% of traffic virally and click through to purchase as much as 3% of the time.

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