In October, Brazilian Startup, Louve.tv ( until in Beta), launched a community site to engage Brazilian gospel music lovers. In this few months, it has registered more than 13,000 users. The company has developed an online platform for connecting with other fans as well as with popular and new artists and has signed agreements with record labels such as Sony and MK Music.
The gospel music market boasts a dedicated and growing audience in Brazil that some inside the country forecast to grow to more than 100 million people by the end of the decade. According to industry data, gospel music lovers prefer to purchase their music legally on sites such as Terra-owned Sonora. Between concert ticket and music sales, the gospel music market in Brazil is estimated to be worth approximately $700 million.
The founders of Louve.tv are betting that a combination of social media tools and content will help engage users online and, in the process, grow their advertising revenue. Also, they have decided to incorporate modern infrastructure technology from Amazon Web Services and streaming provider SambaTech to ensure that scalability is built-in from the start.
The founding team includes Eduardo Rodrigues, a veteran of startups such as Fisgo. Other founders include Evandro Paiva, CFO with relevant experience, Leka Coutinho and Alberto Vilar, owners of a leading music label design and photography studio and David Almiron, award-wining video director. Up to now, Louve.tv has been self-funded with approximately $500,000 of the founder capital and plans to continue employing these funds to grow the site.