Nov 23, 2023

Nov 23, 2023—10 min read In the world of music tech and content creation, where challenges in discovering and licensing the right music persist, a name that has emerged as a game-changer is Hoopr.ai. Founded in 2021, Hoopr.ai stands as a testament to innovation in music licensing, offering a solution to the age-old problem faced by content creators worldwide. Boasting an extensive library of over 12,000 tracks and sound effects, Hoopr.ai addresses the demand for licensed music while opening doors for content creators and musicians to monetize their craft in innovative ways. In this article, let's explore the world of Hoopr.ai—its founders, business and revenue model, funding, marketing strategy, and more. Hoopr.ai - Company Highlights Hoopr.ai - About Hoopr.ai, India's leading music licensing platform launched in 2021, is revolutionizing how content creators find and license music. With a library of over 12,000 tracks and sound effects, Hoopr.ai offers copyright-free music for videos, vlogs, podcasts, films, and more. Beyond catering to the demand for licensed music, Hoopr.ai provides a unique opportunity for musicians to monetize their work. Using data-driven tools, Hoopr.ai simplifies the user experience with intelligent recommendations, making it a game-changer in the music-tech landscape. Hoopr.ai - Industry Hoopr.ai operates in the dynamic music tech and content creation industry. The company is targeting a vast market that consists of millions of content creators, and various brands, agencies, video editors, and businesses. Hoopr.ai is rapidly gaining traction in the content creation economy. In the year since the launch, the platform has already acquired more than 165,000 users. In the next five years, the industry is expected to continue its growth, with an increasing number of content creators and a rising demand for licensed music. Hoopr.ai envisions itself expanding globally, with a significantly larger music catalog, establishing a strong presence in the music tech industry over the next 5 to 10 years. Gaurav Dagaonkar and Meghna Mittal are the co-founders of Hoopr.ai. Gaurav Dagaonkar Gaurav Dagaonkar is the co-founder and CEO of Hoopr.ai, and he shares a deep passion for music and technology, which brought the team together to embark on this exciting journey. Gaurav holds a degree from IIM-A, graduating in 2006. He then chose to pursue a career in the music industry, where he made a significant mark with popular songs like 'College Days' and 'Main Dhoondne Ko Zamaane Mein.' Gaurav has recorded renowned singers such as Arijit Singh, Shreya Ghoshal, and more. In 2018, Gaurav co-founded GSharp Media, a music tech company behind Songfest India, which has garnered over 100 million views and 5 lakh subscribers on YouTube. This platform creates award-winning branded music content and viral solutions for brands. Alongside, Gaurav established Hoopr, India's first music licensing marketplace. Meghna Mittal Meghna Mittal is the co-founder and CMO of Hoopr.ai. Her background includes leading marketing initiatives for Hubilo and Yesssworks for over seven years. At GSharp Media, she has been instrumental in crafting innovative marketing strategies , overseeing product scaling, and steering viral campaigns. At Hoopr.ai, the team fosters a collaborative work culture where tasks are divided based on individual strengths and expertise. Presently, the team consists of 25 dedicated professionals, with ongoing expansion to support the growing creator economy. The hiring approach revolves around bringing in individuals passionate about music and technology, aligning with the company's core values and mission. Hoopr.ai - Startup Story The inspiration for starting Hoopr.ai emerged during the early months of the COVID-19 pandemic when the founders were running the content production studio 'Songfest.' They realized the challenges content creators faced due to copyright issues and the lack of licensed Indian music. The idea was validated through experiences, recognizing the growing creator economy in India. The journey involved ideation, designing a user-friendly platform, and prototyping the initial concept . The founders discussed the vision with industry peers who provided positive feedback, reinforcing the belief in the need for such a platform. Hoopr.ai - Vision and Mission Hoopr.ai has a clear vision for both the short and long term. In the long term, the company aspires to become the primary platform for content creators worldwide, providing them with an extensive and diverse music library while effectively addressing copyright issues . The core belief driving the company is the empowerment of content creators and musicians by offering a platform that simplifies music licensing and usage. The motto guiding the efforts is to "Empower Creativity," reflecting the commitment to supporting creative endeavors at every level. The team is also working on expanding the offering along the value chain as it relates to music and is excited for the future, as expressed by Gaurav Dagaonkar. Hoopr.ai - Products/Services Hoopr.ai provides a comprehensive solution to content creators, offering access to a vast catalog of licensed Indian music and sound effects. The catalog, featuring 10,000+ tracks, can be browsed online, streamed by all users, and downloaded by subscribers for use in their content. The platform also offers a lifetime license per track, allowing users to use the track indefinitely. Users can easily browse the catalog, select tracks, and purchase licenses, ensuring compliance with copyright laws. Hoopr.ai addresses the critical problem of copyright infringement for content creators and stands out with its extensive catalog and flexible licensing options. The platform's plans are tailored to various use cases, accommodating individuals starting their content journey, video editors , agencies, and large brands and businesses, ensuring there's a plan for everyone. Hoopr.ai - Business and Revenue Model Hoopr.ai operates on a business model designed to cater to the needs of content creators, businesses, and musicians within the music licensing space. The revenue model revolves around facilitating music licensing transactions and offering a range of licensing options to users. The pricing structure is flexible, allowing users to choose from various licensing packages that suit their specific needs. Pricing typically depends on factors such as the type of content, the scale of its distribution, and the intended audience. This flexibility ensures that both individual content creators and larger businesses can find solutions that align with their budgets. In terms of profit margins, Hoopr’s model is designed to provide competitive rates to musicians while ensuring sustainable revenue for the platform. The profit margin can vary depending on the specific licensing package and the artists involved. Additionally, Hoopr.ai may charge a commission on certain transactions to cover operational costs and further invest in the growth and development of the platform. This commission, if applicable, is typically a percentage of the licensing fee. Hoopr.ai's business and revenue model is underpinned by the goal of simplifying music licensing and empowering content creators while ensuring fair compensation for musicians and artists. Hoopr.ai - Launching Company Strategies Launching Hoopr.ai with zero users required a multi-faceted approach. The team harnessed content marketing to educate the target audience on music licensing while engaging them through social media. A crucial beta testing phase with select users provided valuable feedback and testimonials. Email campaigns, personalized invitations, and early access offers incentivized sign-ups. Partnerships and word-of-mouth recommendations amplified the reach. The relentless focus on user value and innovative pricing strategies led to the acquisition of the first 100 customers, setting the stage for Hoopr.ai's growth. Hoopr.ai - Customer Growth and Retention Strategies The customer attraction and retention strategies at Hoopr.ai have evolved significantly since the launch. Initially, the team relied on targeted content marketing and social media engagement to educate and engage the audience. However, going from 100 to 10,000 users demanded a more comprehensive approach. Hoopr.ai forged strategic partnerships with popular content creation platforms, allowing seamless integration of its music licensing services. Viral marketing campaigns, such as the #HarGharCreator campaign, garnered substantial attention and drove user acquisition. To ensure customer loyalty, a subscription-based model with exclusive benefits and discounts for long-term users was introduced. Hoopr.ai - Challenges Faced One of Hoopr.ai's most significant challenges was building a comprehensive music catalog with diverse genres and moods to cater to the creative needs of users. This challenge was overcome by establishing partnerships with a wide range of independent musicians, composers, and music producers. Hoopr.ai also invested in technology for efficient content curation and licensing negotiations. This not only expanded the music library but also improved the speed and ease of licensing. Hoopr.ai - Marketing Strategy Hoopr's #HarGharCreator Campaign The #HarGharCreator campaign has been a game-changer for Hoopr.ai. In this campaign, the goal was to celebrate and empower creators all over India. At Hoopr.ai, a significant challenge faced by content creators and businesses daily was recognized – the struggle to find and license the right music for their videos. India boasts a massive creator community, with over 80 million individuals engaged in vlogging, podcasting, gaming, filmmaking, live-streaming, and influencer activities across a diverse range of topics. The platform, Hoopr.ai, has revolutionized this landscape by offering access to a vast library of over 25,000 tracks and sound effects. It's not just providing creators with the specific music they need; it's also helping them steer clear of copyright strikes and legal complications. The #HarGharCreator campaign effectively conveyed this message to the target audience. By aligning the brand with the aspirations and challenges of creators, Hoopr.ai not only increased its user base but also solidified its position as a vital resource for the creator community in India. This campaign has significantly contributed to the growth and success. While this has been a campaign Hoopr.ai is very proud of, a wide array of marketing strategies has been adopted, focusing on different user acquisition channels. This has enabled the platform to acquire more than 1,65,000 users not just from India but also from countries such as the USA, UK, Canada, Australia, Germany, Bangladesh, Pakistan, Poland, etc. Furthermore, one of the aspects Hoopr.ai is quite proud of is the fact that there has been immense traction across every single state and union territory, from Tier I cities to the smallest villages of India. Hoopr.ai - Funding Sahil Barua, Ashneer Grover, Anshoo Sharma, Giri Malpani, Pradyumna Agrawal, 9Unicorns Hoopr.ai has successfully raised $1.5 million in seed funding, with investors including Venture Catalysts, 9Unicorns, Inflection Point Ventures, and notable individuals such as Ashneer Grover , Sahil Barua ( Delhivery ), Anshoo Sharma ( Magicpin ), Anuraag Srivastava, Pradyumna Agrawal, Giri Malpani, and others. Fundraising, as known to anyone who has worked at a startup, can be challenging, especially considering the prevailing economic situation at that time. However, Hoopr.ai is proud to have secured this seed fund, successfully launched a product to the market last year, and, in return, has seen great traction from users across the board. Hoopr.ai - Key Tools and Software Hoopr.ai employs a variety of software on the business, tech, and music fronts. Regarding business operations, standard productivity and documentation software are utilized. As far as tech is concerned, the focus has been on building a platform that is easy for users to use and that will allow Hoopr to automate, add features, and enable usage globally without any problems. Leveraging Node.JS, Angular JS, and React, the team has built a dynamic platform that suffices these needs. Lastly, on the music front, the team uses off-the-shelf DAWs for recording music and a diverse range of plugins to enhance specific elements of tracks on the sonic front. Hoopr.ai - Future Plans Hoopr.ai has strategic plans to expand its footprint and serve more creators. In this regard, the team aims to consistently gather feedback from users, making improvements based on their suggestions and striving to reach the set targets. Additionally, there are exciting plans on the music front with various initiatives in progress, which will be revealed in due course. FAQs How does Hoopr.ai help content creators? Hoopr.ai offers a vast library of over 12,000 tracks and sound effects, providing copyright-free music for videos, podcasts, films, and more. Who are the founders of Hoopr.ai? Gaurav Dagaonkar and Meghna Mittal are the co-founders of Hoopr.ai. In which industry does Hoopr.ai operate, and how has it performed since its launch? Hoopr.ai operates in the dynamic music tech and content creation industry. In just a year, the platform has acquired over 165,000 users, with plans for global expansion.