Sega invests in music startup Flutin
Summary
Sega invests in music startup Flutin Sonic publishers efforts to expand into other areas of entertainment continue with indie artist discovery app The Indian startup has already secured funding from the GHV Accelerator, high net individual angel investors, and other "corporate investors," according to Music Business Worldwide. Flutins business revolves around its music app of the same name, which uses AI to track users listening habits and recommend indie and emerging artists. Gupta reports 63% of all music revenue in Japan comes from independent artists, and this is expected to be reflected globally "in a few years." Earlier this month, Sega lowered its full year forecast as weaker than expected boxed games sales limited the companys growth. With the ongoing shift to digital, and the fact that packaged goods remain the single biggest contributor to Segas revenues, this investment is an example of how the publisher is exploring other avenues.