Pay-per-view streaming service accumulates £950k via crowdfunding in 48 hours

A new pay-per-view streaming platform has exceeded its £950K crowdfunding target within 48 hours of launch.

Lounges.tv provides creators with the tech tools they need to broadcast their content and connect with audiences who are prepared to pay for it.

Lounges.tv also states that it will pay all creators 80 per cent of the stream revenue within 24 hours.

Founded by tech entrepreneur, Scott Green, and led by a proven advisory board, including Ben Lavendar, the creator of BBC iPlayer, and Mervyn Lyn, the ex-GM of Motown Records, Lounges.tv has a pre-money valuation of £7.9m.

Scott Green said: “The revenue models of existing streaming platforms are deeply flawed in that only a small percentage of people can financially gain from uploading and sharing their content - despite the many millions of unheard and talented individuals worldwide.

“Lounges.tv not only provides a platform for these people to showcase their talent across many popular areas such as Music, Comedy, Education, Cooking and Well-being but also ensures they are fairly rewarded, while providing a new exciting and interactive streaming platform for audiences to enjoy.

“With experts predicting 82 per cent of internet use will be for streaming by the close of 2022, not only are the Board and I incredibly excited about our potential to disrupt and transform the industry but feel extremely encouraged by the early success of the crowdfunding campaign – so watch this space.”