- Based on Spotify data, the number of uploads on the platform has increased, but record labels are losing control of these uploads – diluting the market share
- Some labels have halted any DIY artist distribution operations and are only offering services to invited artists
- Friendable’s Fan Pass Live (including Artist Republik and FeaturedX) is the “anti-label” collection of services for independent artists looking to produce, distribute, and market their music without major record label control
- Fan Pass Live is giving the top three tip earning artists free merchandise in June (up to a $400 value)
Major record labels are beginning to feel the strain from DIY music production and distribution services, like Friendable’s (OTC: FDBL) 360-degree artist platform – Fan Pass Live, Artist Republik, and FeaturedX. Friendable is a mobile technology and marketing company focused on developing and identifying products, services, and brand opportunities with mass market potential and scalability. In January 2022, Friendable completed its acquisition of music distribution company Artist Republik.
Based on data released by Spotify, approximately 60,000 tracks were uploaded to Spotify daily during Q1 2021. The numbers so far for 2022 reflect an uptick in uploads, possibly in excess of 70,000 uploads or more daily. Of these uploads, the major record labels claim a percentage of the uploads – in 2017, the major record labels (plus Merlin) claimed 87% of the uploads on the Spotify platform. This means that the remaining 13% came from minor record labels and independent musicians. Last year, these major labels could only claim 77% of the uploads – and this number is growing daily.
According to Sony Music’s Rob Stringer, “We realize we have to cast our nets, [and] somehow get that music in our ecosystem. Because otherwise, literally, market share will be diluted by default of the sheer volume of tracks [being released]” (https://nnw.fm/adP7d).
As independent artists begin flooding the streaming and distribution platforms like Spotify, the likelihood of market share dilution is becoming evident. In retaliation, some of the major labels with independent artist options (Universal Music Group’s Spinnup, for example) have shut down DIY distribution and only distribute music from invited artists. These restrictions reduce the label’s likelihood of falling under the perceived threshold on the platforms.
Friendable’s Fan Pass Live (with Artist Republik and FeaturedX) is an “anti-label” solution for music artists wanting to remain in control of their offering. In addition to the production, distribution, and marketing options found within the 360-degree artist platform, Friendable is also increasing the amount of revenue earned by the independent artists involved. Artists earn revenue from ticket sales, tips, merchandise, fan subscriptions, and more. Artists are also given additional incentives through monthly contests held by Fan Pass Live. Monthly contests can be found on the company’s Instagram page.
For the month of June, Fan Pass Live (@fanpasslive) artists are competing for the chance to win custom merchandise. The top three artists with the most tips during the month will win free custom merchandise designs and online merchandise store.
- Third Place: One merchandise design ($100 value)
- Second Place: Three merchandise designs ($275 value)
- First Place: Five merchandise designs ($400 value)
In addition to the contest, artists who schedule streams on the Fan Pass calendar get featured in the company’s weekly Fan & Artist newsletter. The Artist Republik Starter Pack is also advertised for June. It provides participating artists with the ability to grow their fanbase (Spotify, Soundcloud), placements, sound store, mastering, artist links, and playlisting. Artist Republik can be found on Instagram at @artistrepublik.
For more information, visit the company’s websites at www.Friendable.com or www.FanPassLive.com.
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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