- The global music streaming market is expected to reach $103.07 billion by 2030 – driven by platforms like Spotify
- TikTok’s parent company ByteDance has filed a trademark patent application for streaming services under the name “TikTok Music”
- Friendable’s Fan Pass Live artist streaming platform remains the only 360-degree offering that helps artists produce, distribute, and market music, while allowing artists to collect revenue and maintain complete control over their works
With music streaming platforms rising in popularity, the global music streaming market is continuing to expand, being expected to reach $103.07 billion by 2030, growing at a CAGR of 14.7% from 2022 through 2030 (https://ibn.fm/bvOhf). Although many of the popular streaming platforms, like Spotify, offer free trials and subscriptions, the benefits to independent artists are often unfavorable, with the majority of the revenue kept by the streaming company. As new companies enter the market to leverage services to artists, it is becoming a murky area – with artists being promised favorable revenue and rewards but still being controlled as if by a major record label company.
Already making a name for itself in the short-form video market, TikTok’s parent company ByteDance filed a trademark patent application in May to begin providing music streaming services under “TikTok Music.” The company already offers a music streaming service named Resso in India, Brazil, and Indonesia and is looking to release it in the United States with the TikTok trademark affiliation. The service would allow music artists to upload or livestream music to their fanbase, disrupting the music streaming market against the dominating platforms like Deezer, Spotify, Pandora, and more (https://ibn.fm/Zna27).
TikTok is already on track to begin pushing the TikTok Music moniker, advertising incentives to users who upload videos on the platform. The problem for users is that it still lacks the “full package” feel – requiring at least 1,000 followers before users can begin earning gifts and TikTok taking 50% of everything earned by its users. Although the platform is popular, it lacks the structure to help independent artists succeed by creating, distributing, and marketing their music.
Where so many platforms fail to support and nurture independent artists, Friendable’s (OTC: FDBL) flagship offering, Fan Pass Live, and recently acquired Artist Republik and FeaturedX offer a solution. Friendable’s solution is a 360-degree music artist platform that provides production, distribution, and marketing resources without label control. This “anti-label” approach also gives users more control over their music and the revenue that comes from it – with 100% revenue returned to the artist on things like ticket sales, tips, and more. A more detailed TikTok – Fan Pass Live comparison can be viewed by visiting the company’s Instagram page, @fanpasslive.
Initially released in July 2020, Fan Pass Live has seen substantial growth, with thousands of artists added this year. The all-inclusive platform provides independent artists with the tools necessary to create, produce, stream, and profit from their music with services like:
- Music Distribution and Management
- Music Production Assistance
- Press Release and Instagram Promotion
- Digital Storefront Activation
- Artist Marketplace for Collaborations
- Merchandise, Logo, and Promotional Design Support
- Virtual Concert Booking and Ticketing Mobile Streaming Service
- Live Streaming Support
- Revenue from Fan Tips, Monthly Contests, Merchandise, and Ticket Sales
- Access to Fan Data and Performance Analytics
- Monthly Artist Contests
- NFT Development and Metaverse Performances – Coming Soon
The artist streaming platform is not inclusive to only independent artists; even established artists can join and promote their music, earning revenue. Fan Pass Live’s streaming artist platform provides transparency, allowing musicians to see exactly what they earn while they remain 100% in control of their music – including ownership of their hard work. Friendable makes it easy for artists to produce, distribute, and market music while building a fanbase and offering the means to interact with fans and artists simultaneously.
NOTE TO INVESTORS: The latest news and updates relating to FDBL are available in the company’s newsroom at http://ibn.fm/FDBL