FDBL - Friendable Inc.'s (FDBL) 360-Degree Artist Platform Fan Pass Live Pushes Other Music Distribution Platforms to Change Stale Pricing Structure and Offer Independent Artists More Support
- The majority of music industry revenue is not distributed to artists but to the labels and distribution companies that own them
- Friendable’s flagship offering, in conjunction with the recently acquired Artist Republik and FeaturedX, offers artists a 360-degree platform for music creation, distribution, and marketing – a one-of-a-kind experience
- TuneCore announced that it would be changing its pricing structure, making it more affordable for musicians looking to distribute their music on their own, but has not changed offering to include all of the Fan Pass Live solutions
In the past, artists looking to distribute their music had very few options, and these options were often linked to a relationship with a record label. In 2018, Rolling Stone published an article about how much musicians bring home from the revenue earned in the music industry – 12%. That is not 12% per musical artist, but the industry as a whole. At that time, the industry was valued at $43 billion across on-demand streaming, CD sales, radio play, live events, and advertising. Still, artists only shared a small portion of these earnings ($5 billion) (https://ibn.fm/S0TSp).
One of the biggest pain points faced by independent music artists in the industry today is the high cost associated with creating, distributing, and marketing their music. In July 2020, Friendable (OTC: FDBL) released the Fan Pass Live artist platform and has since grown exponentially, increasing...
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