- Friendable’s offering of the Fan Pass Live artist platform and acquisition of Artist Republik provide musical artists with an “anti-label” set of tools to produce, perform, and distribute music
- Pulling music from Spotify is not always the best option, especially when artists need that revenue
- Fan Pass Live offers artists an alternative to lower-paying platforms, allowing artists to keep 100% of ticket sales and tips while receiving revenue from other sources on the platform
- Friendable posts additional contests on Instagram for artists on the platform to participate in to win monetary and physical prizes
The controversy surrounding the recent string of artists removing their music from Spotify has left behind an unsavory view of music streaming platforms. The controversy began when podcaster Joe Rogan provided misinformation about the COVID-19 vaccine during his podcast. This misinformation sparked a letter (with an ultimatum) from music legend Neil Young, which was posted online and then taken down immediately. Still, Spotify began the process of pulling Young’s music, per the ultimatum. Young wasn’t the only one who had reservations about The Rogan Experience podcast, with doctors sending letters to Spotify trying to mitigate what they deemed as misinformation from the podcast.
The entire situation has snowballed, becoming bigger and bigger, and more artists chose to leave the platform. The entire situation has shed light on how artists on the platform are compensated, especially after the unveiling of Rogan’s $200 million contract with Spotify.
The music industry is primarily controlled by three record labels – Sony Music, Universal Music, and Warner Music, with Sony and Universal owning 8% (Sony – 5.7%) of Spotify. This percentage owned by Sony results in a $1.1 billion stake in the revenue resulting in artist’s streaming. Most artists would have to have 2,197 streams per hour to equal one hour minimum wage in the United States. Meanwhile, the CEO of Spotify, Daniel Ek, is worth over $4 billion.
For artists, especially those considered independent, removing music from the Spotify platform can be more detrimental than beneficial. Earning revenue, at any rate, is a must for any artist. Even those who remain on the Spotify platform earn something, resulting in earning more than if they were to pull their catalog from the streaming service.
Spotify isn’t the only answer for independent artists who want control of their music without the major labels dictating their revenue earnings. The Fan Pass Live artist platform, the flagship offering of Friendable (OTC: FDBL), has emerged as a viable full-service alternative for independent artists. Friendable recently completed the acquisition of Artist Republik, creating an all-in-one opportunity for independent artists looking for a virtual stage to stream music, as well as promotion, merchandise, distribution, and more.
The Friendable founders, Robert A. Rositano, Jr. and Dean Rositano, are no strangers to the music industry. Having been a musician himself, Dean understands the need for artists to make money while doing what they love – a passion that both brothers share. The result of this passion? Fan Pass Live’s unique revenue structure that allows the artist to earn through:
- Ticket sales and tips (100% goes back to the artist)
- Merchandise sales
- Beats/Sample packs
- 40% of the subscription pricing from fans on a recurring monthly basis
- And more!
In addition to the steady revenue above, artists also have the opportunity to compete in monthly contests for additional cash or prizes. February’s contest, as promoted on Instagram (@fanpasslive), is called “Ticket to Win.” The three artists with the highest number of ticket sales will be awarded $500 for first place, $250 for second place, and $150 for third place, in addition to their monthly revenue totals and ticket sales, tips, etc. Additionally, any artists who purchase Fan Pass gear through the merchandise shop and use the code ‘RAFFLE’ at checkout will be entered to win their own custom merchandise collection (a $500 value).
Friendable is making waves in the music industry by providing artists with an “anti-label” experience. From creating music to selling out virtual concerts, and promotion to distribution, the collaboration of Fan Pass Live and Artist Republik under the Friendable name is changing how artists get paid, heard, and promoted.
NOTE TO INVESTORS: The latest news and updates relating to FDBL are available in the company’s newsroom at https://nnw.fm/FDBL
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