Friendable Inc. (FDBL) Offers Independent Artists a 360-Degree Platform for Production, Distribution, and Marketing Music, While Retaining Full Control of Their Music

• 68% of the music industry market is dominated by major record labels, with independent labels and self-releasing artists rising to 27% of the market share
• The three primary record labels dominate the global music industry, valued at $53.77 billion in 2018 and expected to reach $65.17 billion by 2023
• 90% of artist revenue is lost to the record labels, management, and streaming service fees
• Fan Pass Live’s 360-degree artist offering allows independent musicians the ability to produce, distribute, and market their music, keep control of their art, and receive revenue through various avenues

For decades, the only way to make it big in the music industry was to sign with a major record label. Although 68% of the market is still dominated by three key labels – Universal Music Group, Sony Music Entertainment, and Warner Music Group – independent music labels and self-releasing artists have entered the arena, claiming close to 27% of the market (https://ibn.fm/TL8wd). While numerous factors are at play, the increase in the streaming market plays a vital role in how musical artists distribute their music. Over the past decade and a half, the streaming market has seen a dramatic increase in the music industry revenue it is responsible for, growing from 1% in 2005 to 83% in 2020 (https://ibn.fm/fOTqo). The digital service provider (“DSP”) with the most influence in the streaming market in 2021 was Spotify, holding 31% of the streaming market share (https://ibn.fm/BvELF).

The global music industry market was valued at $53.77 billion in 2018 and is expected to reach $65.17 billion by 2023 (https://ibn.fm/FErBm). However, the primary beneficiary of this revenue is still the major record labels and streaming industry dominators, not the…

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