Friendable Inc. (FDBL) Offers a Solution to Artists Feeling Controlled and Undersupported in Today’s Music Industry
Aug 18, 2022
- Musicians feel financially burdened by labels and streaming platforms within the industry’s traditional structure
- Friendable’s 360-degree artist platform provides the solution to help artists produce, distribute, and market their music while retaining maximum revenue
- Since the acquisition of Artist Republik and FeaturedX, Fan Pass Live has become the only platform offering artists a full-service option – production, distribution, and marketing with support and assistance from professionals who understand the industry
Friendable (OTC: FDBL), a mobile technology company focused on its proprietary Fan Pass Live artist platform, has identified and is addressing a notable problem within the music industry for artists and record labels. With the rapid evolution of technology within the industry, music streaming platforms have become a popular distribution method, but it is not without concern, especially when looking at the revenue collected by artists for their music. In 2021, The Guardian spoke with artists, songwriters, and industry insiders about this problem, highlighting the fees collected by platforms like Spotify and Apple Music versus what the artists collect (https://ibn.fm/yarlV).
On average, most musicians lose 90% of their streaming revenue to record labels, 10% to booking agents, and up to 20% of their overall income to managers. Additionally, many artists who sign with labels feel a lack of support, feel controlled, and financially burdened by strict contracts. As technology changes, it is…
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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