Set.fm is providing musical artists with another stream of revenue by selling live recordings. Set.fm has raised $1.2 million in seed funding, led by Golden Venture Partners, to launch its mobile app so fans can easily download audio recordings of live performances.
To use Set.fm, musicians pay their own production and venue fees, choose which recording solution to use (iPad, iPhone or desktop) and hit the record button once the show starts. Set.fm software will then stream the music from the soundboard, convert the analog signals into digital signals and encode the performance and metadata all in real time. Uploading and transcoding the show as it is recording allows fans to download the performance seconds after it ends.
Set.fm also provides users who want to capture their experiences by phone recordings with a higher-quality file than they could obtain themselves. Founder and CEO Matt Peterson says most venues have audio at around 120 decibels, while an iPhone microphone can only handle about 95 decibels before the quality starts to degrade.
Continue reading the rest of the story on TechCrunch