Donald Malter: TikTok Rival debuts with latest funding round
New York – 25th Oct, 2019 – A new US-based micro video platform, Triller, has raised an eight figure round recently. This funding round was led by Proxima Media and if rumours are to be believed Proxima have handed a stake in its business to all three of the major music labels.
“As a result of recently renewing license arrangements with all of the three majors (Sony, Warners and Universal)” said industry veteran Donald Malter, “it appears that each own a small minority stake in Triller”.
In its recently released Press Release, Triller stated that the $28m raise will fuel growth and product enhancements and that it has rival platform TikTok firmly in its sights.
“The prospect of two major Micro Video platforms fighting it out for supremacy has to be good for the Industry, Artists and the Public alike” said Industry commentator Donald Malter.
Triller has apparently reporting year on year growth of some 500% boasting a current 13m active monthly members.
Donald Malter over the past 35 years has worked for, Elektra Records (Warners), Zomba Music (SONY), Verve (Universal Music Group), BMG Chrysalis (BMG Music) as well as numerous other clients. Donald Malter is an “in demand” Consultant specialising in introducing Private Equity Investment into Entertainment Projects.
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