- Fan Pass Live was released by Friendable in July 2020, and Artist Republik’s acquisition was completed in January 2022
- Friendable is positioned to leverage two markets – music streaming and music distribution services, capitalizing on technological advancements and the shift to digital platforms
- The global music streaming market was valued at $24.4 billion in 2020 and is expected to reach $76.9 billion by 2027
- The global music distribution services market was valued at $911.87 million in 2020 and is expected to reach $1.7 billion by 2030
In a movement of true independence for recording artists, Friendable (OTC: FDBL) is making a statement with its “anti-label” offerings – Fan Pass Live and the recently acquired Artist Republik. Three primary record labels rule the music industry – Sony Music, Warner Music, and Universal Music – each taking their revenue cut from the artists signed to them. The “anti-label” movement cuts out the contracts and high fees for distribution, leaving artists in control of their music once more.
Released in July 2020, The Fan Pass Live artist platform is an online stage where artists can stream and perform music live for fans, all from a mobile device. The platform also offers artist channels, merchandise, and promotion options for artists without signing a recording contract. Fans pay a monthly subscription fee (which artists receive up to 40% of) for the Fan Pass Live experience. Additional revenue for artists comes from live show ticket sales, tips, merchandise sales and more!
In January 2022, Friendable completed the acquisition of Artist Republik, a music distribution platform that provides independent artists access to all of the distribution services they would have with a recording company, without the contract. Artists can record, stream, and distribute their music without the restrictions of a recording label dictating their every move. With the combination of Fan Pass Live and Artist Republik, Friendable is creating a 360-degree all-inclusive music experience for artists worldwide.
“With the decades-long struggle artists face due to the confines of a record label, along with the daily grind of finding income opportunities, we wanted to provide the opportunity for artists to regain control right from the start,” Friendable CEO Robert A. Rositano, Jr. said, according to an Instagram post celebrating the acquisition (https://ibn.fm/xt8il).
Dean Rositano, President and CTO of Friendable, was quoted and says that with Artist Republik and Fan Pass Live, the company now has a 360 suite of products for independent artists to grow their fan base, as they augment their income streams, and continue engaging their fans without going the traditional route of a record label.
Artist Republik Founder Nick Cianfaglione underlined that his platform single-handedly changed the face of independent music forever: “Now it’s time for us to partner with a powerful and well-resourced company, like Fan Pass, and combine forces to make double the impact in half the time.”
Friendable has thus positioned itself to leverage two expanding markets – the music streaming market and music distribution services. The global music streaming market was valued at $24.4 billion in 2020 and is expected to reach $76.9 billion by 2027, growing at a CAGR of 17.8% from 2020 to 2027 (https://ibn.fm/xI3wa). The global music distribution services market was valued at $911.87 million in 2020 and is expected to reach $1.7 billion by 2030, growing at a CAGR of 6.2% from 2020 to 2030 (https://ibn.fm/vinDf). With the increase in technology and the demand for digital platforms, Friendable is staking its claim in both markets.
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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