- Friendable recorded a 14,000% YOY increase in revenue (more than $20,000 in January 2022) and more than 8,000% YOY growth of its Fan Pass Live artist database, topping 105,000 artists
- Fan Pass Live platform offers the only all-inclusive option for independent artists, from live performances and merchandise creation (and sales) to music recording and distribution services
- The global music distribution services market was valued at $911.87 million in 2021 and is expected to reach $1.68 trillion by 2030
After closing out a successful 2021, the mobile technology and marketing company Friendable (OTC: FDBL), rang in the new year with an acquisition agreement and an uptick in metrics that facilitate its goals for the growth of the Fan Pass Live artist platform. Friendable has positioned its flagship offering as the only 360-degree, all-inclusive music artist platform. It has quickly gained notoriety for being an “anti-label” opportunity for artists wishing to remain independent and maintain control over their music. After the acquisition of Artist Republik, the platform can now facilitate everything from live performances, logo designs, and merchandise development to music distribution services and tools for artists to grow their fanbase.
In addition to making a serious impact on social media (IG, Twitter, Facebook), Friendable recorded a 14,000% YOY increase in revenue, resulting in more than $20,000 for January 2022. The Fan Pass Live artist database increased by more than 8,000% YOY, topping 105,000 artists. In addition to these artists, the company has now added music distribution with the Artist Republik acquisition (https://nnw.fm/m6wfS).
Friendable CEO Robert A. Rositano Jr. spoke about the company’s goals going forward, saying, “With our speed increasing, technology advancing and artist adoption continuing, we believe our offering is one of a kind.” According to Rositano Jr., the company intends to continue iterating, upgrading, and adding new offerings, assisting artists in earning revenue and maintaining control.
“Some of what we discussed last year included NFTs, and now, with various virtual reality or metaverse opportunities on the rise, it seems the Company will explore partnerships to expand in these areas, as well. This is an area that may be best suited for a partner relationship rather than something we would develop internally at this time, but, again, we never say never,” the Friendable CEO explained. “Priority is staying focused on our core business aims – building revenues, artists, fans, and content – which remain the current and future pillars of our success.”
Access to the music distribution industry is likely to help drive Fan Pass Live’s growth further, as the sector is expected to grow at a CAGR of 6.2% over the next eight years. The global music distribution services market was valued at $911.87 million in 2021 and is likely to reach total revenue of $1.68 trillion by 2030 (https://nnw.fm/EXTGF). Although traditionally done through record labels and recording companies, music distribution has entered a new frontier of making recorded music available to the general public. As technology advances, so do the public’s available options to listen to their favorite artists. Friendable is now at the forefront of a movement that allows artists to remain independent while still getting their music out there for the world to hear.
In addition to introducing the Fan Pass Live artists with the opportunity to now record and distribute their music, Friendable is giving the Artist Republik community the ability to go live on a professional platform, schedule shows, and even create custom merchandise designs. Artists can now gain the experience of a label without the strings attached to a label. Friendable is looking forward to what 2022 will bring and is currently focused on building revenues, artists, fans, and content – the future pillars of success.
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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