 PeopleSound running in 2000 | |
Type of site | Public (Limited) |
|---|---|
| Traded as | |
| Founded | June 1999 |
| Dissolved | 2008 |
| Country of origin | Great Britain |
| No. of locations | 6 locations (peak) |
| Owner | Vitaminic |
| Founder(s) | Ernesto Schmitt |
| Industry | Audio streaming |
| Employees | 85 (2000) |
| URL | peoplesound.com (archived) |
| Launched | October 1999 |
PeopleSound was a British audio streaming platform founded on 22 June 1999 by Ernesto Schmitt. Going live in October 1999, it was the first European music streaming platform and the most visited. At peak, it was amongst the top ten most visited entertainment websites in Europe, with millions of registered users, and one of the highest profile new-age internet startups.
PeopleSound combined new media reach with old media music publishing to create a platform where users could search for music by artist or category and discover new recommended music. Unlike music distribution before, which had been managed exclusively by record labels, PeopleSound signed unsigned artists, notably offering £100 to artists per song they sent in. These artists earned 50 per cent royalties on physical copies sold, but music on the site was available free.
With offices in London, Paris and Munich, PeopleSound raised at a valuation of $200 million (£70m in 1999) and reached a valuation of $280 million (£100m in 1999). Post dot-com bubble, PeopleSound was sold to Vitaminic, and the combined entity was listed on the Italian Stock Exchange. The New York Times called PeopleSound "the leader for European-based downloadable music sites", as well as the first pioneer of music streaming on mobile, and it set the basis for later companies like Spotify and Apple Music.