After three years, livestreaming platform Mandolin is winding down its product and business operations, the company announced on April 17.
“We’ve spent the last three years building an award-winning fan engagement platform across both Fan Navigator and Fan Experiences,” a statement from the company read. “And while it’s true that we have seen incredible momentum in livestreaming and Fan Navigator usage, the macroeconomic situation has rendered us unable to continue building our capabilities to serve the industry. We spent the better part of the last year fundraising to sustain and grow our business and, unfortunately, we were unable to secure further commitment to our vision.”
Mandolin launched in 2020 after the pandemic pulled the plug on physical touring. The company was co-founded by Mary Kay Huse, who formerly worked as an executive at Salesforce, entertainment lawyer Robert Meitus and tech entrepreneur Steve Caldwell.
The company grew extensively throughout its first year, with the company continuing partnerships throughout 2021. Ground Control Touring and the streaming platform announced an exclusive partnership in 2021, where they hosted, produced and marketed select shows from the agency’s roster including Waxahatchee, Angel Olsen, Parquet Courts, Hop Along and more. They then secured $12 million in Series A funding in 2021 and inked partnerships with festival livestreaming and acquired NoonChorus.
Yet, as live music began to come back in full swing in the fall of 2021, livestreams began to take more of a backseat. The platforms were never meant to replace the magic of live.