NetworkNewsWire
Editorial Coverage: For those on the connected side of the
digital divide, the internet has created a borderless society where
everything is within reach of a mouse click. For the approximately
44 million
American homes still without broadband, President Joe Biden has
tasked
Congress with approving a budget that helps bridge that divide.
From a business standpoint, that’s an opportunity for a bevy of
companies, including streaming services, advertisers, e-commerce
brands and more to reach large pockets of the country currently
unattended. That means more opportunity for Friendable Inc.
(OTC: FDBL) (Profile) and its Fan Pass live-streaming
mobile and web-based platform to further accelerate its growth
trajectory by providing unprecedented access to artists ranging
from up-and-comers to some of the world’s biggest music artists and
celebrity talent. Those connected can hardly fathom a non-streaming
world anymore where, with just a tap on a device, live concerts,
podcasts, movies and music are instantly available from an array of
providers, including Spotify
Technology S.A (NYSE: SPOT), Apple
Inc. (NASDAQ: AAPL), Disney
(NYSE: DIS), Amazon
(NASDAQ: AMZN) and more.
- S. market has more streaming service subscriptions than people
(340 million vs. 330 million).
- With its Fan Pass app, Friendable addresses a gap in the live
video-streaming market by providing users exclusive engagement with
musicians and celebrities.
- All critical growth metrics are surging for Fan Pass, including
artist sign-ups spiking from 317 in February to 575 in March.
- FDBL just announced its foray into exploding NFT market,
offering limited-edition NFTs with benefits subscribers can’t find
anywhere else.
Click here to view
the custom infographic of the Friendable
editorial.
Opportune Time to Support Music Artists
With traditional media in decline, the trend towards streaming
has created a massive marketplace with no signs of slowing down.
Underpinned by growing adoption of cloud-based solutions to
increase the reach of video content, with blockchain and artificial
intelligence technologies improving video quality and ever-growing
popularity of mobile devices, analysts at Grand View Research peg
the global video
streaming market at $50.11 billion in 2020 with robust 21.0%
compound annual growth expected to 2028.
In its series
titled, “New Normal, New Opportunities,” RBC Wealth Management
examined secular trends magnified by the coronavirus pandemic,
including cord cutting and video streaming, trends that are likely
to stay intact in a post-COVID economy. As determined by Roku,
nearly one in three U.S. household cancelled cable or satellite
subscriptions in favor of alternatives to view movies and other
content and another 25% of households trimmed their traditional
television services, a trend known as cord shaving.
Against that backdrop, the last year has been an opportune time
for Friendable
Inc. (OTC: FDBL) to launch its Fan Pass mobile and
desktop platform as a novel entertainment service for both artists
and their fans/consumers. Created by Robert Rositano Jr. and Dean
Rositano, serial entrepreneurs with a track record of success,
Friendable’s Fan Pass platform addresses a gap in the
video-streaming market by giving artists and fans what they want:
more insight into the ongoings of artists, musicians and
celebrities through exclusive content offered by the Fan Pass
service offerings.
Currently, services are front stage facing, as artists connect
with fans on the Fan Pass Virtual Stage. These events are
supplemented with merchandise offerings and various add-ons that
allow the fans to support their favorite artists by signing up for
the monthly subscription or simply purchasing merchandise or
live-event tickets, all shared with each artist on a revenue share
basis. As venues re-open, Friendable will engage in various VIP and
Backstage options for fans to gain access to exclusive
behind-the-scenes content as well.
Rather than competing with juggernauts such as Amazon, Netflix
or even Spotify, Fan Pass is a complementary partner that
capitalizes on the fact that 45% of respondents in a Livestream/New
York Magazine survey said they
would pay for live video from a favorite performer, speaker or
sports team. A stunning 87% of respondents said they prefer to
watch video online if it meant more behind-the-scenes content. That
is the sweet spot for Friendable’s Fan Pass live-streaming
platform.
Empowering Artists, Gaining Maximum
Exposure
Unlike other agencies that effectively want artists to sign
their lives away, Fan Pass is a true artist partner, designed to
launch, elevate and activate careers coming up through the
platform. Friendable also collaborates directly with artists,
booking agents, talent managers, live venues and even record labels
to gain access to special-event performers and ultimately their
fans, as they will be the ones shaking out the new or undiscovered
talent waiting to be discovered and elevated by these very same
fans.
Throughout the process, the artists remain in charge, benefiting
from numerous onboarding services provided free of charge by the
Fan Pass team and platform. Additional tools and fee-based pro
service offerings are also available to assist with logo creations,
merchandise design or lighting, and streaming packages to support
artists in building and managing their careers. These tools include
digital marketing avenues such as celebrity direct-to-fan and
digital-ad campaigns on social media, search and email. The
strategy is bidirectional, meaning Friendable and Fan Pass utilize
independent artists, celebrity and user-generated content to gain
maximum market reach.
As soon as the Fan Pass agent team has completed the onboarding
process and an artist’s channel goes live for fans to access, the
artist is encouraged and incentivized to promote themselves. These
promotions are designed by Fan Pass and approved by each artist
prior to social media postings, which dovetails perfectly with
opening up the VIP/Backstage experience and exclusive
behind-the-scenes content offerings as live venues schedule
re-openings.
To provide some color, consider an independent artist with a
million fans and followers across social media platforms — or a
celebrity artist with more than 50 million. As venues re-open and
fans compete for opportunities to attend a live show, Fan Pass
intends to be behind the scenes offering up livestream content.
Traditionally only a handful of fans could ever obtain a backstage
pass or participate in a backstage meet-and-greet; however, that
all changes when fans download the Fan Pass app or use their
website to gain access to exclusive experiences for a fraction of
the cost.
Fan Pass charges $3.99 per month (or $38.30 annually) for an
all-access pass to all artist content, streamed across various
music genres in the app and on the Fan Pass website. The artists
receive a portion of these fees, based on the type of content —
video, audio or image — as well as fan activity in each artist
channel. In the case of a live or special-event ticket, artists
have the option of selling tickets to these live shows as an
additional source of revenue, netting them 100% of ticket sales
processed by Fan Pass and paid out immediately.
In the example above, if only 1% of the independent artist’s one
million fans, or 10,000 fans, purchase an event ticket for $8, that
totals $80,000 in revenue for the artist — and that is in addition
to the ongoing or recurring subscriber revenue shared with the
artists.
And that’s not all. Friendable has been securing partnerships to
ensure Fan Pass expansion as additional platforms are coming soon.
The company is also targeting key relationships within the
entertainment industry as it evaluates further opportunities to
support and service Fan Pass artists and fans. Potential OTT
platform expansions include Apple TV, Android TV, Roku and
more.
Fans, Artists Loving It
Appetite is growing for the Fan Pass live-streaming platform as
measured by rising activity and growth data
related to artist sign-ups, monthly platform impressions, fan/user
sessions and increases in social media followers, likes and reach.
In February 2021, 317 new artists signed up for the platform, with
live-event streams numbering 32, up 64% from January. The company’s
reach on Facebook expanded 30% as likes for the Fan Pass page rose
19%, while the reach on Instagram jumped 55% as the number of
followers rose 9.3% month over month.
While those numbers are impressive, March’s
numbers ticked even higher as the word got out about what Fan
Pass brings to the table. An additional 575 new artists signed up
during the month, with live events and performances doubling from
February. Fan Pass impressions increased 19% and live-channel
impressions soared 69%. Facebook reach exploded by 120%, and
engagement was up another 19%. All the critical metrics for
Instagram also notched double-digit percentage increases.
Genius: Jumping in the Red Hot NFT Market
Friendable management is not missing a beat while getting in
front of emerging trends that fans crave. NFTs, or non-fungible
tokens, are one of the hottest markets around. NFTs are unique
digital assets stored on blockchain technology that can’t be
reproduced. Digital artwork has been prized, as illustrated by a
relatively unknown artist called Beeple raking in an
astonishing $102.2 million from selling 842 pieces of his work.
Jack Dorsey’s first tweet (autographed), short videos of pro
basketball players and other things digital are all the rage as the
NFT frenzy rages on.
Friendable and Fan Pass with its long list of artists are a
perfect fit for this market. This month, the company inked a letter
of intent with Santo Blockchain Labs and Santo Mining Corp. to
develop global entertainment and music artist-driven NFTs, along
with its own marketplace. Each NFT, expected to be limited-edition
digital and/or augmented-reality images, represents a unique
opportunity for revenue streams for the artists, Friendable and
Santo. NFTs can also include gold or platinum tickets that give the
owner exclusive benefits to a physical venue or event with the
artist. In totality, NFTs are a savvy way to generate revenue while
also building artist and Fan Pass brands by making the most of an
accelerating trend.
Others in the Streaming Space
The streaming industry is absolutely thriving, which could lead
to an increase in consolidation activity as companies look for any
potential edge to win consumers. Examples of M&A activity in
recent years include IAC-owned Vimeo
acquiring LiveStream and VHX for undisclosed amounts, as well
as Magisto for a reported $200 million and Stingray making several
acquisitions including Qello, Chatter, DJ-Matic and Yokee.
Spotify
Technology S.A. (NYSE: SPOT), a service first known
for music but now a global leader in streaming podcasts, turned the
industry on its head last year when it signed comedian and podcast
host Joe Rogan to a $100 million contract to get his content
exclusively publishing on its brand. Spotify CEO Daniel Ek has said
that “audio – not just music” is the future of the company. The
company moved with a
purpose in that direction, bolstering its podcast library from
just 185,000 choices in 2018 to over 2.2 million as of
February.
Apple
Inc. (NASDAQ: AAPL) has a knack unlike any other
to position itself as providing only the highest-quality products
and getting its loyal base to pony up big dollars for what they
want. The same could be said about its streaming services. A new
study by Self Financial examined IMDb scores with U.S. customer
data, and not surprisingly, Apple TV+ topped the
list of providing the highest-quality content providers,
outstripping Netflix, HBO Max, Prime Video, Disney+ and Hulu. Apple
only launched its streaming service last year and already
reportedly has more than 30 million TV+ subscribers.
Disney
(NYSE: DIS) is certainly a family show icon for big
and small screens alike, and now the astute entertainment provider
is mastering the streaming space too. The company’s “The Falcon and
the Winter Soldier” on Disney+ is a blockbuster, reportedly
scoring 495
minutes of viewing time when its premiere episode came out the week
of March 15, making it the biggest Disney debut ever. For
perspective, consider that the show outperformed both premieres of
seasons one and two of the Disney blockbuster, “The
Mandalorian.”
Amazon
(NASDAQ: AMZN) is more than just the go-to e-commerce
website. Once exclusively a book purveyor, the company has a
complex ecosystem today including streaming music and movies that
fall under its Prime label for members. Amazon was ahead of the
curve more than most realize, unveiling Amazon
Studios to produce, acquire and self-publish original movies
and other content.
With more streaming service subscriptions in the U.S. than there
are people (340 million vs.
330 million), it’s hard to believe that the market is still in
its infancy. Common sense suggests that the COVID-19 pandemic may
have artificially inflated subscribers as people were on lockdown,
but judging by robust corporate projections, all it did was
enlighten more people to the beauty of streaming compared to
traditional media.
For more information about Friendable Inc. (OTC:
FDBL), please visit Friendable
Inc.
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