- Since Summer 2021, Friendable has been searching for the right music distribution platform to pair with its successful flagship offering, Fan Pass Live
- The acquisition of Artist Republik brings an additional 100,000 artists to the platform and an extensive tech deck that will benefit all parties
- The Artist Republik acquisition provides independent artists with access to a distribution offering, which they would not have unless they paid additional for management and were assigned to a record label
Mobile technology and marketing company Friendable (OTC: FDBL) is releasing more details about the recent acquisition of Artist Republik, a reputable music distribution company, and how it affects the Fan Pass Live artist streaming platform. Since this last summer, Friendable has been looking to acquire a distribution company, platform, or service. The goals for its target acquisition candidate were related to historical and ongoing revenues, technology, services, industry relationships, and an active artist database that is fitting to the service offering that is already being well received by artists on the Fan Pass Live platform (https://ibn.fm/YG86S).
“Artist Republik has experienced great momentum in music distribution, and now Friendable and Fan Pass are the beneficiaries of approximately 100,000 artists alongside these revenues that exceeded $450,000 in approximately eight months of 2021, of which our combined audit and 10k will provide all the details when filed,” Friendable CEO and Co-Founder Robert A. Rositano, Jr. explained the reasons behind the acquisition. “We also have the need to update technologies, bug fix, and expand resources to increase these current and historical revenues, so it was a real no-brainer for us to pursue the opportunity and, ultimately, complete the acquisition of Artist Republik. It was a bonus to have such great synergies with our branding, marketing, people, technology, and relationships, as well.”
The offering provided by Artist Republik is much like what a manager and label would offer to a recording artist, but without the excessive rates and fees. Fan Pass Live platform artists will now be able to access the same kind of representation (on a virtual level) that they would receive if they brought on their own manager or label, while maintaining their ability to remain independent in the industry.
In addition to bringing 100,000 more artists to the Fan Pass Live platform, the acquisition of Artist Republik has tripled the company’s tech deck. Together, between the Fan Pass Live artist platform and Artist Republik’s distribution resources, Friendable has created “the real deal” for artists and an exciting community for fans.
Rositano, Jr. explained that, with a focus on supporting all existing artists, marketing and upgrading technology for expansion deployment, the Fan Pass Live team has already made impressive strides in bulking up technology and addressing issues that are currently holding back certain revenue channels that are just bursting with opportunity and artist orders. “We see it; we have our teams managing every aspect; and once we have ensured they are solid for growth, we will flip all the switches to green once again,” he said. “I believe we will not only scale existing revenues, but cross-promoting the Fan Pass Live service offerings will allow us to scale revenues on both sides from this huge influx of approximately 100,000 new artists alone, prior to any additional marketing efforts, we also intend to roll out shortly.”
The Fan Pass Live platform is available for download as an Apple or Google app and can be downloaded from each respective app store. Fan Pass offers users a seven-day free trial, which includes the VIP all-access pass. After the trial, fans pay $2.99 per month for the subscription to the platform. Artists receive up to 40% of this subscription as revenue sharing.
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 http://ibn.fm/FDBL
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