- Churn occurs when subscribers sign up for a streaming service and immediately cancel once the current season or event is over, but re-sign up when something new catches their attention
- Fan Pass Live offers subscribers a new type of experience that revolves around the life of their favorite artists and the ability to see them on-demand
- The global music streaming industry was valued at $29.49 billion in 2021 and is expected to reach $103.07 billion by 2030, growing at a CAGR of 14.7%
For companies competing in the music and video streaming industry, personalization is becoming a key contributor to earning higher subscriber retention rates. Churn has always been a problem in the landscape, with subscribers signing up for subscription services but leaving the platforms once their need was fulfilled and signing up again when a new season or event occurs. With video streaming platforms introducing algorithms that “recommend” what you should watch next, Friendable (OTC: FDBL), a mobile technology company focused on its Fan Pass Live artist platform, is introducing a new way to engage and retain subscribers through its Fan Pass Live branded offering.
The Fan Pass Live artist platform proactively supports artists and provides a personalized experience for fans who subscribe to its music platform, including:
- An exclusive look into the artists’ lives
- The ability to browse for upcoming events (online and in-person)
- Backstage access before, during, and after an event
- A single dashboard where fans can view notifications, discussions, and new artists
- Real-time interactions through livestream performances
- Exclusive interviews and one-on-one videos
- A behind-the-scenes look at music videos and photoshoots
- Access to exclusive artist merchandise
For $2.99 per month, fans gain access to a growing catalog of artists across multiple musical genres, including pop, rock, indie, jazz, and more. Additional charges apply for VIP and Pay-Per-View performances, with artists earning 100% revenue from ticket sales and fan tips. Yearly rates are also available for fans subscribing to the music platform, offering a discount from the monthly price.
At the beginning of 2022, Friendable announced the successful acquisition of Artist Republik and FeaturedX, completing its offering as a 360-degree offering for artists and adding additional opportunities for fans. Now, artists can produce, distribute, and market their music across additional platforms, in addition to creating musical collaborations with other artists with ease.
The current artist contest being held by the company is the Artist Republik Song of the Summer contest. All entries have been submitted and narrowed down. Although the artists are in control of their music, fan voting controls the winner of the $1,000 prize in each genre category.
In the coming months, Fan Pass Live’s artist platform will offer artists and fans the opportunity to experience music in a new realm – with NFTs and Metaverse performances. As the digital landscape of music evolves, Friendable is at the forefront of bringing new technology to the music industry.
The global music streaming market size reached $29.49 billion in 2021 and is expected to grow at a CAGR of 14.7%, resulting in $103.07 billion by 2030. The industry’s growth is expected to occur due to the increased interest in digital platforms and the use of smart devices, which enhance the experience for artists and fans alike. Despite the churn that occurs for subscription services, platforms are still popular for their ability to personalize the music experience and the ease of use for connectivity, allowing for hassle-free apps and browser experiences (https://ibn.fm/Sh6we).
Fan Pass Live personalizes the music experience for the fans by taking them on a journey with their favorite artists through the livestream experience, merchandise, and the ability to browse new and upcoming artists.
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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