Grammy Award winning musician, musician, and producer Wyclef Jean says that the music industry is broken, which is now involved with a startup, OpenwavIt is looking at the artists to give back power. Through the Openwav app, Launched In summer, artists can release new music and exclusion; Connect directly with fans; Sell the merchant; Host concerts, pop-ups and listening parties; More.
Later, the startup plans to provide more assistance to the artists using the AI Tool.
In luck Churning technology This week the conference, the main creative officer in the Openve, Jean had harsh words for the status of the music industry, especially criticizing the business model of streaming services.
“If you are a new artist, you have literally a rip-up of the amount of (accumulated) to get $ 10,000. So now you have a continuous rebellion,” he said.
Jean told Cardi B as a recent example of the problem, saying that people probably thought that it was fun that she was on the road selling CD and vinyl albums (which (which He promoted a ticket Her album), what she was really doing, showing how bad things have become for artists.
To keep things in perspective, Openwav’s co-founder and CEO Jason maWho spoke with Jean at the event, said, “Now on SPOTIFY … for $ 3,000 you have to hit 1 million streams.” Ma is a media industry entrepreneur, investor and advisor who is supported Many startups, Musical.ly (which became tiktok), triller, coinbase, grab, and others, and co-establish many media companies and NFT App OP3N.
Ma explained that the broken model of the industry is that the team in Openwave is building a direct-to-fan music platform.
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“Algorithms are not rewarding music,” he said, agreeing with one Social media posts recently Singer Lizo, who “complained about lack of”Summer song“This year.
Ma then told that today’s artists do not need one lakh listeners on Spotiff, but for 1,000 true fans.
“If you have 1,000 true fans that give you $ 10 per month – a Starbuck Coffee Times is 1,000 – it is $ 120,000 per year as an independent music artist. Think of it.” (Technically, it is $ 100,000 per year-it is probably Mispok-but stands for her; it is a place to mudge directly-to-entertainment.)
“Spotify is not paying you. Instagram, Tiktok is not paying you. But your true fans will pay you. They will buy your tickets. They will buy your exclusive music – your music will be dropped first on Openwav. Said.
Of course, it is not alone in thinking about changing “super fans” in a revenue stream for openwav artists. Spotify is talking about creating a super-fan platform for some time, calling investors on its earnings to launch its objective New premium tier This will fulfill fans who will get quick access to concert tickets, more facilities and other allowances. The company is interacting with labels like Universal and Warner Music to do so.
Openwav is not necessarily targeted by major artists, as spotify, though. Instead, it will be after the commencement of Indie artists and others.
The concept is not completely new. Spotify tried to enter this place, even when it introduced a way to upload their own music back to Indie artists in 2018. But this effort soon stopped after the company surfaced. Pressure from your label partners Who realized that this step would cut their sales.
Ma, in response to a question, what makes Openwav different from other fan platforms, admitted that today was contestants in the market, but argued that no one is doing everything that Openwav is doing in one place.
“When you come to Openwav, you are able to sell tickets and make 80% profit – 20% (goes) platforms enables you to sell tickets in your show,” he said. “Everyone who buys a ticket goes into an event chat like a discord, and you are truly able to integrate and integrate with those who are buying tickets in your show,” MA continued. “So you are really able to leave the merchant in the same community chat with zero upfront cost, no inventory, global dropships.”
Artists on the stage will also be the owners of their audience, such as fans’ email addresses and phone numbers.
The forum allows artists to use AI to design their merchants, and both genes and ma expressed enthusiasm about technology. Jean said that AI could help the music artists to make more than before, and Ma reported that even record manufacturer and lyricist Timbaland is using AI Music Service Suno like a sample to help him do more with his current music.
In Openwav, they plan to use AI to provide artists to help a manager, by suggesting things such as tour locations or mercury ideas, as well as for example album arts or songs to make a video.
The MA said, “What we see with AI is that AI is going to be your best friend as an artist,” MA said some AI features will reach the “phase two” of the app. Meanwhile, available on Openwav IOS And Android Equipment for consumers.
