Online music channel BalconyTV gets PE funding, former MTV head joins as advisor

MUMBAI: Global online music video channel, BalconyTV--Music With A View,has announced its first institutional funding from Polaris Venture Partners, Lerer Ventures and Greycroft Partners.

Former MTV US CEO Judy McGrath will also join the channel in an advisory role. "Being a music fan, I love how BalconyTV has grown in such an underground way. I‘m excited to see how far they can go," McGrath said.

BalconyTV was founded by three Dublin friends who began filming daily performances of new and upcoming artists from their apartmentbalcony. The concept soon caught on and today BalconyTV is produced in over 30 cities around the world and has more than 7,000 videos archived that have been viewed over 30 million times.

Artists that have performed on BalconyTV include international chart toppers Mumford and Sons, The Script and Jessie J.

Polaris venture partner Noel Ruane said, "BalconyTV stood out on several fronts. Here is a concept that is not only unique, but already has a very real footprint around the world and is growing completely organically."

Last year, BalconyTV was one of 10 companies that pitched at the Copenhagen Demo-Day of Startup Bootcamp - the European affiliate of Techstars.

BalconyTV co-Founder, CEO Stephen O‘Regan said, "Up until now, we‘ve had the passion of our producers, and the love of the artists who have performed. But not unlike busking on the streets, it‘s been all hustle. I‘ve always felt that emerging bands deserved a truly independent, engaging and most importantly artist-centric platform to showcase their talent to the world. BalconyTV does that. It‘s resonated with artists from Sydney to LA to New York to Seoul. Since joining @dogpatchlabs Europe, we‘ve added more cities. Now with our new support band - Polaris, Lerer, Judy and Greycroft - we‘re aiming to play to many more fans around the world."

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