Although the global music industry is worth over $50 billion, most music artists cannot earn meaningful income by making music.
And Here’s The Problem: Huge Music Streaming Platforms Pay Only Fractions Of A Penny Per Stream.
Music streaming accounts for roughly 64% of all recorded music revenues—however, huge streaming platforms like Spotify and Youtube have failed to serve artists with a system that pays only fractions of a penny per stream all while favoring artists with mass appeal. Features like playlisting and algorithmic recommendations, also contribute to a network effect putting niche genres at a disadvantage—and extending the gulf between music haves and have-nots.
Spotify (the most popular service that accounts for over 44% of the market share) pays an average of only $0.00348 per stream. To put that into perspective, an artist earning three tenths of a cent per stream would make about $3,300 to $3,500 per million streams. This is a pretty staggering statistic to think about, but Spotify is only the tip of the iceberg. In fact, YouTube only remits a third of what Spotify does at approximately $0.001 per stream.
The Solution: Introducing Trubify, A Unique Livestreaming Platform That Empowers Musicians To Monetize Their Talent
Trubify gives the power back to artists through it’s intuitive, easy-to-use app that provides artists with a’ la carte income streams. The platform allows artists to pick and choose from one to all six of its customizable revenue streams that best align to their style and audience preferences.
Here are Trubify’s 6 Income Streams For Artists:
- Views (with highest per viewer payouts)
- Influencer Marketing
- Tickets (in development)
- Patronage (coming)
- Merch (coming)
In addition to offering high industry payouts and removing barriers-to-entry, the Trubify app allows artists of all genres and following sizes to monetize and engage their fans. Unlike YouTube or Spotify, Trubify differentiates itself by managing all cover song licenses & royalty payments, as well as provides an innovative artificial intelligence/machine learning influencer marketing component with proprietary monetization features. The response from artists, producers, record labels, brands, fans and the industry at-large has been overwhelmingly positive.
There are two sides to revenue on Trubify. Fan-generated (tips, tickets, patronage, and per-viewer payouts) and brand-generated (GoogleAdSense, proprietary automated influencer marketing AdTech, and affiliate sales).
Fan-generated revenues are split 80% to the artist, brand-generated revenues are split 10% for influencer payouts to artists, and 100% of Google Ad revenue goes directly to the artists.
Artists Love Trubify
Artists love Trubify because it centralizes all monetization and fan engagement features in one easy-to-use app. Artists are also incentivized to bring their loyal fans to Trubify because their income scales concurrently.
Trubify’s streaming platform is built upon a big data driven business intelligence backend with new features currently being integrated. This gives Trubify insight into all user demographic and psychographic data, musical genre preferences, music consumption habits, and financial data on all users. The platform is being built with input from many artists and fans, brands, publishers, labels, and executives from Sony and Warner Bros. The platform is currently in beta testing with over 6,000 Beta Users.
To learn more about Trubify, visit: Trubify.com
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