As Congress Looks to Change How Streaming Services Pay Musicians, Friendable Inc. (FDBL) Offers Viable Solution with 360-Degree Platform Supporting Music Artist Production, Distribution, and Marketing
Sep 15, 2022
- House Concurrent Resolution 102, co-sponsored by Congresswoman Rashida Tlaib and Congressman Jamaal Bowman, seeks to change how streaming services pay royalties to artists
- Friendable’s 360-degree Fan Pass Live artist platform supports production, distribution, and marketing, with all earned revenue going to the artist
- Fan Pass Live is a large aggregator of artist data, with enterprise-level services on track to become the largest data and content funnel in the industry today
There is a lack of transparency in music streaming services like Spotify, Amazon Music, Apple Music, and YouTube, creating an environment dominated by private deals with powerful corporations, predatory pricing, and other practices that would otherwise be illegal in the traditional music industry landscape. Even the largest streaming service in the world, Spotify, paid rights holders at a rate of $0.0030, a rate that would require 800,000 monthly streams for an artist to make the equivalent of a full-time worker at $15 per hour. According to the UN’s World Intellectual Property Organization, these rates are declining yearly.
Congresswoman Rashida Tlaib of Michigan’s 13th District has co-sponsored House Concurrent Resolution 102 with Congressman Jamaal Bowman of New York’s 16th District, which proposes a new resolution recognizing the need to establish new royalty programs that directly compensate musicians through…
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