Medici.tv Generates $1 Million from Subscriptions with Live Streaming of Classical Music Performances

Medici.tv, which boasts the largest online collection of classical music in the world, is changing how fans access, listen and experience classical music. The

Medici.tv, which boasts the largest online collection of classical music in the world, is changing how fans access, listen and experience classical music. The six-year-old site offers over 100 events streamed live annually from all over the world, making classical music performances available to fans who can’t get to metropolitan areas or afford the costly tickets.Free users can access the live concerts and replays for 90 days after a performance, but premium subscribers get access to the site’s archives of more than 1,400 original programs and hundreds of films on demand.The subscription options include a Classic Subscription for desktop access to live events and unlimited access to the archives for $101.15 per year (including a 15% discount through December 25). For $50 more per year, subscribers get ad-free browsing, unlimited smartphone and tablet access, connected TV access and programs in high definition. Classical music fans can also purchase Smart TV subscriptions ($128.52/year) and there’s a “youth subscription” for subscribers under 25 years of age ($75.60/year), helping to draw in the Millennial crowd.While offering tiered subscription options isn’t unique, what is unique is the approach Medici.tv is taking. Instead of selling the music first and enticing people to spend more money to attend their favorite operas and ballets, Medici.tv is giving away live performances of classical music to attract visitors and then converting enthusiasts into paying subscribers.Given the most basic subscription cost and the site’s 10,000 paying subscribers, Medici.tv is generating an estimated $1 million of revenue per year, which is impressive. According to a New York Times article, the site has 200,000 registered free users, meaning there may also be room for advertising revenue to a target audience with clear psychographics. Hervé Boissière, founder and managing director of Medici.tv, said the live events attract 10,000 to 15,000 viewers each, and up to 20 times more during the 90-day free-viewing period.All in all, this seems to be a very clever subscription site, with a very well defined niche audience that currently is not being served by the big streaming video giants (Netflix, Amazon Prime, etc.). The only possible competition is from PBS channels, many of which have begun streaming their classical music performances.However, since PBS usually makes their “Great Performances” available for only a limited and has a limited selection of performances, Medici.tv needn’t worry too much about their free competitor. Instead, PBS might be the best marketing partner and place for Medici.tv to advertise its services to a captive audience of classical music fans. 

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