Mexico’s TV Azteca announced a strategic partnership and $7 million investment in two-year-old Israeli social-music startup MUGO of Herzliya.
MUGO’s technology combines users’ favorite music sources into a single live music app and enables instant virtual headphone parties — synchronized joint listening among an unlimited number of friends even when listening from different sources.
Users can have live chats while listening to a song, share playlists and daily music history, follow and discover friends with similar musical tastes, play music according to mood, and more.
“With the rise of technology companies in the world of music and the daily use of social networks by youth worldwide, we see a natural connection between these two worlds,” said Benjamín Salinas, CEO of TV Azteca, one of the world’s largest television producers of Spanish-language programming. “With the technology developed by MUGO, we see how music can become social on mobile platforms.”
MUGO CEO Ori Segal said the TV Azteca deal “will be a significant leap forward in bringing a social music experience to the huge market in Mexico and Latin America that lives and breathes music.”