1716 $60k/mo Live Event SaaS Company Virus Survival Plans

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 5 April 2020

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Matt Ford launched his first Music Tech startup - spotlight.fm - while attending the University of Wisconsin in 2011. Spotlight.fm was a marketing platform for major festivals, record labels, promoters, and music brands including Ableton, Electric Daisy Carnival, and Frank Productions. After growing the userbase to over 250k, Matt successfully exiting the company and started Solstice in 2014. Solstice started as a hybrid concert management platform and concert promoter. While putting on thousands of events around Austin including an annual festival (Solstice Festival), Matt began working on technology to connect venues and artists with a tech partner Adrian Tavares. Through this process, the ubiquitous problem venues, agents and promoters face operationally became abundantly clear. Prism.fm emerged in 2018 with Matt as the CEO. In just 2 short years since inception, Prism is working with hundreds of partners around the world booking thousands of venues.

Transcript

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0:00.0	Prism FM serving the event industry and live event industry. They've scaled nicely over the past
0:05.1	three, four years, now doing about $50,000, $60,000 a month in revenue. They'd raised $2.7 million.
0:10.0	They had about 19 on the team. He's now back down to 16 and stopped on new hiring, now burning
0:13.9	about, call less than $100,000 per month with more than 12 months of runway in the bank to ride out
0:17.9	the virus and hopefully emerge stronger on the other side,
0:21.8	but not waiting for that to be happy as he focuses on meditating and spending time with his kid
0:25.3	here, Cyrus.
0:26.8	Hello, everyone.
0:27.3	My guest today is Matt Ford.
0:29.0	He makes great software for promoters in the form of his company, Prism FM.
0:34.1	He launched his first music tech startup, Spotlight FM while attending the University of Wisconsin in 2011 and is built from there.
0:40.2	Matt, you're ready to take us to the top?
0:41.8	Yeah, let's do it.
0:42.8	All right.
0:43.0	So you've got a user base.
0:44.7	Oh, sorry, you grew Spotlight, I think, to over 250,000 users.
0:47.8	Is Spotlight an updated versus Prism and updated version of Spotlight or two separate companies?
0:51.8	No, definitely two separate companies. So in a nutshell, Spotlight is a marketing platform for major promoters and record labels
0:59.3	and music industry brands.
1:01.7	Could give you more of a nutshell of what it is another time.
1:04.7	But it was a good experience for me to learn how the industry works and to build some
1:08.4	relationships.
	...

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