- The live streaming music industry is expected to reach $76.9 billion by 2027
- The current customer reach is documented at 42.7 million, a year-over-year rise of close to 50%
- Fan Pass provides various streams of revenue for artists by giving them a virtual stage where they can earn on live event ticket sales, video content views, merchandise sales, and artist contests.
- The first anniversary (July 24, 2021) will be the release of the new 2.0 version of the platform
The global live streaming music industry has increased significantly in the last year and is expected to continue with an upward growth trend in the coming years, as demand continues to grow, and more platforms emerge in the market. The industry was valued at $20.9 billion in 2019 and $24.4 billion in 2020. The expectation is that the market will reach $76.9 billion by 2027, growing at a CAGR of 17.8% during the forecast period (2020-2027). Due primarily to the pandemic, the number of customers who pay for online music has reached 42.7 million, a year-over-year rise of nearly 50% (https://ibn.fm/HdfUV).
Mobile technology and marketing company Friendable (OTC: FDBL) and its proprietary Fan Pass platform are disrupting the live streaming industry, changing how fans view their favorite artists – online and eventually in-person. For almost a year, Fan Pass has been turning the live streaming industry into a place where artists can truly earn revenue on ticketed online concerts, merch sales, and on-demand video content. Even with venues beginning to open around the world, Fan Pass has not lost any momentum – artist signups grow month after month and the platform is set to launch its 2.0 version on its one-year anniversary (July 24).
The Fan Pass platform enables artists to earn through various avenues, including:
- Content Views: Artists on the Fan Pass platform receive up to 40% of the $3.99 per month subscription paid by fans every month based on the content views
- Merchandise Sales: Artists earn 50% of all net revenue from merchandise sales
- Ticket Sales: Artists who schedule online concerts and sell tickets to the event, keep 100% of the amount charged for each ticket
In the coming months, artists will also be able to earn additional revenue through the platform using non-fungible tokens (“NFTs”). The company has already signed a Letter of Intent with Santo Blockchain Labs and Santo Mining Corp. (OTC: SANP) to develop global entertainment and musical artist-driven NFTs.
Each month, Friendable and Fan Pass give artists additional ways of earning revenue through Artist Contests. These contests range in prizes, with the June contest offering the following rewards: 1st Place – $500 cash, 2nd Place – $250 cash, and 3rd Place – $150 cash. Additionally, the artist who sells the most merchandise will also win a custom merch package from the team.
Friendable is also upgrading the Fan Pass shop’s offering for artists. Not only can artists take advantage of paying for Pro Services provided by the company for custom logo, merchandise, and marketing designs, but they can now shop streaming gear (https://ibn.fm/7wP0O). The Fan Pass streaming gear makes it possible for emerging artists to find their footing in the live streaming music industry.
The offering includes:
- Audio Interface with DJ Mixer and Sound Card
- Donner 12-Pack Acoustic Foam Panels Wedges
- TONOR Microphone Isolation Shield, Studio Mic Sound Absorbing Foam Reflector
- Focusrite Scarlett 2i2 (3rd Gen)
- Audio-Technica ATH-M50X Professional Studio Monitor Headphones
- KRK Classic 5 Professional Bi-Amp
- GoPro HERO9 Black
- And so much more!
Currently implementing its 120-day strategy, which will extend through the end of 2021, Friendable focuses on dedicating and driving downloads to the mobile app and acquiring exclusive content, artist performances, ticket sales, fee-based services, fan subscriptions, and so on (https://ibn.fm/HhsWc). Commenting on the upcoming release of Fan Pass platform’s version 2.0, CEO Robert A. Rositano, Jr. voiced confidence that it “is going to blow our existing artists away and build a buzz through artist communities that will drive future growth, fan sign-ups, merchandise sales, and recurring revenue, all of which have been tested and proven at a micro level throughout our proof of concept and pilot phase.”
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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