Through its sleek online storefront, careful curation and targeted content strategy, Reverb.com has gone from a scrappy upstart to the world’s largest music gear website in only four years.
On Friday, the company announced that it is launching a new e-commerce platform, Reverb LP, for music collectors.
“This year, new vinyl record sales are expected to see double-digit growth for the seventh year in a row and that doesn’t account for the vast used market,” said COO Dan Melnick in a statement. “The demand exists, but the current options for buying and selling records online — whether you run a store or just have a personal obsession, like me — is cumbersome.”
For collectors on the lookout for something special, Reverb LP features advanced search functionalities and the ability to set up an alert when a particular album comes into stock.
Melnick, who leads strategy for Reverb LP, believes Reverb’s built-in community and experience from the music gear vertical will help it break into the record market. Reverb LP will also be open to other physical music formats. (Hello, cassette collectors!)
Like Reverb.com, Reverb LP will let sellers build branded online storefronts that are powered by its e-commerce platform. This feature is currently used by musicians like Wilco and Black Sabbath drummer Bill Ward to sell used equipment and other collectables. Smashing Pumpkins frontman Billy Corgan will be opening a Reverb store with more than 100 items later this month.
Melnick said the new platform will build on the content and curation model that has helped Reverb make a name for itself in the music gear business.
“We'll be bringing our same quality standard to content for Reverb LP, but the subject matter allows us to be broader in how we talk about music, which really excites us,” said Melnick. “Our curation approach will carry over the same philosophy we have for Reverb, which is marrying machine learning with human editorial voice and control.”
Melnick said planning for Reverb LP started late last year, and that active development started this spring. The new platform will go live later this year. The move will help Reverb expand its addressable market, with the additional benefit of adding a product category in which people make more frequent purchases.
Melnick declined to speculate about how the new offering would shape Reverb’s direction as a business, but he said he expects it to accelerate the company’s overall growth.
Images via Reverb.
Are you working on an awesome startup we should know about? Drop us a line or tweet us @BuiltInChicago