Abbey Road has a history of over 80 years. Its name is a brand in of itself. Abbey Road Red is a new open innovation department started by Abbey Road. What does that mean? Abbey Road is using its name and its expertise to mentor small startups.
The service is one that is almost unprecedented. A recording company has gotten ahead of the curve by teaming up with music innovators and is using themselves in order to help them get ahead. The start-ups are given access to Abbey Road’s resources, from their studios to their managing or related expertise.
I know what you guys are thinking; why would Abbey Road do this? It makes no sense. It does. In doing this, these startups not only get Abbey Road to test run whatever technology is being invented, but Abbey Road gets first trial of innovative new technology that could shape the vast music business. Not only that, but a cut of the profits.
The service is not a fixed one, it is one that varies from start up to start up, Red is not a one size fits all but a way to mentor in whatever way is possible. Because of that, not every start up is taken. In order to be considered it seems like a vision is a must. The 3 different start-ups that are starting the first round at Red, all seem to have not only a set goal in what they want out of Red, but also a clear and thought out vision, as well as a means to achieving it. These start-ups are very impressive on their own, and this is what Red is banking on.
Their first “class” will be starting this spring with 3 startups that are all varied in their uses. Cloudbounce offers an online automated mastering service. Uberchord is a guitar learning app with algorithmic lessons that gradually get harder as you begin to learn and master the guitar. And Ossic is a startup that is working with 3D headphones, a project for which they’ve raised over a million dollars for on Kickstarter. These are all start-ups that are not exactly safe bets, but with the help of Abbey Road, they could sure be something great.