Music-Sharing Startup MUGO Announces Strategic Par

MEXICO CITY, May 16, 2018 (GLOBE NEWSWIRE) -- Social music startup MUGO announced today a strategic partnership with TV Azteca (BMV: AZTECACPO ) (Latibex:XTZA), one of the two largest television producers of Spanish language programming in the world.

MUGO’s “Live Share” technology allows an unlimited number of listeners to sync to the same point in a song, even when listening from different sources. In addition, the MUGO application enables users to share their daily music history, follow and discover others with similar musical tastes, share playlists, play music according to mood, watch live shows, and more.

Founded in April 2016 by Ori Segal, Shay Goldberg and Roman Slutsky, the Israeli-based startup raised US$2 million in early stages, won Calcalist’s 2017 most promising startup award, gained over 100,000 active users within a short period of time after its launch, and has signed agreements with leading music and recording companies worldwide.

MUGO is currently in the process of raising additional capital (in Series A financing) with venture capital funds and leading strategic partners, aiming to launch the application in Europe and the US in coming months.

“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. “With the technology developed by MUGO, we see how music can become social on mobile platforms.”

"The strategic cooperation with TV Azteca is a very important milestone for us and 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," said MUGO CEO Ori Segal. "With TV Azteca and the tools at their disposal, we can begin realizing this dream quickly.”

The MUGO application allows users to track each other's musical taste, grab playlists from others, and to synchronize together on the exact same spot in a song for joint listening with friends and followers. In addition, MUGO offers an extensive list of artists who joined the project and use the app every day, sharing their private playlists, and allowing their fans to listen with them in real-time.

Other features of the app include: a map of the songs currently playing in the user's area, live chats while listening to a song, new song releases, live concerts and more.

About TV Azteca

TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating four television networks in Mexico: Azteca Uno, Azteca 7, adn40 and a+, through more than 300 owned and operated stations across the country. The company also operates Azteca Digital, the operator of several Mexico’s most visited websites and social media platforms.

TV Azteca es una empresa de Grupo Salinas (www.gruposalinas.com) es un conjunto de empresas dinámicas, con fuerte crecimiento y tecnológicamente avanzadas, enfocadas en crear valor para el inversionista, contribuir a la construcción de la clase media en las comunidades en que opera, y mejorar a la sociedad a través de la excelencia.  Creado por el empresario Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas provee un foro para el intercambio de ideas y mejores prácticas administrativas entre los distintos equipos de dirección de las empresas que lo conforman.  Estas empresas incluyen: TV Azteca (www.azteca.com; www.irtvazteca.com), Grupo Elektra (www.grupoelektra.com.mx; www.elektra.com), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Punto Casa de Bolsa (www.puntocasadebolsa.mx), Totalplay (www.totalplay.com.mx) y Totalplay Empresarial (totalplayempresarial.com.mx).  TV Azteca y Grupo Elektra, cotizan acciones en la Bolsa Mexicana de Valores. Cada una de las compañías de Grupo Salinas opera en forma independiente, con su propia administración, consejo y accionistas.  Grupo Salinas no tiene participaciones en acciones.  Las compañías que lo componen comparten una visión común, valores y estrategias para lograr un rápido crecimiento, resultados superiores y un desempeño de clase mundial.   
MUGO is available for free download on Android and iOS.

Press Relations:

Luciano Pascoe, +52 (55) 1720 1313 ext. 36553, lpascoe@gruposalinas.com.mx
Daniel McCosh, +52 (55) 1720-0059, dmccosh@gruposalinas.com