Blog

Vertical Zoom-in: emerging trends in online music education

Fretello - making learning easy with real-time feedback

fretello-cover-en

Industry drivers:

Once a niche sector with an ambitious vision to transform the way the world learns, EdTech venture investment is now 40x larger than it was a little more than a decade ago in 2010, nearly 5x the previous investment peak in 2015, and 3x pre-pandemic investment levels in 2019.

The adoption of e-learning solutions has resulted from the digitalization of the education industry, which allows students and adult learners of all ages and from any location in the world, to learn at their own pace. Increased digital content creation for the education sector, combined with widespread adoption of smart and connected devices, has contributed to the global expansion of the online music education market

The global online music education market grew by 15% year on year in 2020, up from 13.8% in 2019. Guitar sales have grown since the pandemic began, despite a 10% increase in prices. Also, the market saw lucrative opportunities with emerging IT companies and their integrated service offerings with the education sector.

Recent developments in the Global Online Music Education market:

  • In June 2021, JoyTunes raised US $50 million at $1B valuation led by Google Ventures with an ARR of +$100 million. The musical instrument teaching app has become the another Israeli startup to join the unicorn club.
  • In April 2021, Yousician raised around US$ 28 million to offer more effective music education. With the online platform or app, the company will provide an interactive, gamified approach to learning musical instruments.

🎸 ACTIVE MUSICTECH OPPORTUNITY | FRETELLO

Fretello is an Austrian music tech startup providing AI-powered mobile app solutions to musicians for learning and mastering musical instruments.

Product milestones

March 2019: Fretello closed its first licensing deal with Sony/ATV, getting access to the world’s largest song catalog with +3 million songs.

April 2020: Fretello become official launch partner for Apple’s iPhone SE and was featured as the App of the Day in the U.S. and 167 other countries.

Traction (December 2021 stats):

  • subscriptions: +67% users acquired on iOs & +113% on Android
  • conversion rate: +39% of all users who start a free trial convert in paying users
  • retention: +4.1% of all users on annual plan renew their subscription

Lead-investor quote:

"Fretello has a very strong team. The founders know each others for years and have built a profitable business before. Their marketing team is supported by a former Headspace advisor who scalded a subscription business from 3 to 60M revenue in 5 years, and their existing board of investors includes Founders from companies such as Runtastic."

Vesa Laakso, Partner SparkMind Ventures, Lead-investor Fretello

--

Fretello's raise is active on SeedBlink. Explore this investment opportunity here.

SeedBlink is a full-service investment platform that enables everyday and accredited investors to access curated European tech startups through equity crowdinvesting and angel syndicates. To learn more about startup investing and tech opportunities, sign up now.

By Roxana Cicea

PublishedFebruary 03, 2022


Share on

Be the first to know all about tech-trends, European growth, investments, and get exclusive access to all resources offered by our community!