Offering Solutions, Support and Options to Artists with Dwindling Resources and Loss of Revenue, Giving them Back Control Over their Careers
CAMPBELL, CA, Aug. 12, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Friendable, Inc. (OTC: FDBL) is announcing some of the staggering statistics and effects COVID 19 continues to have on the music industry, as Fan Pass seeks to identify all artists in need of a viable solution to bring back revenue opportunities, utilizing its Fan Pass platform.
The World Economic Forum released this past May staggering figures relating to how Covid19 has affected the music industry. The report states with the disappearance of live music concerts and no end in-sight that the "six-month shutdown is estimated to cost the industry more than $10bn in sponsorships," and individual artists are feeling the loss the most. With the ban on large gatherings, small and large venues have shut their doors, and artists are finding themselves deprived of their primary source of revenues, live gigs. Live shows account for 75% of artists' income and are directly tied to the release of new music. Rolling Stones magazine reported that a growing list of artists is delaying new releases to later in the year. Well-known artists from megastars Alicia Keys and Lady Gaga to upcoming groups Haim and Hind, R&B singers such as Toni Braxton, Kehlani to veteran rockers The Pretenders, and country music legend Willie Nelson, have all decided to delay the release of their latest albums. Touring is the number one promotional tool for a new album launch and is also an excellent marketplace for merchandising and connecting with fans. Many artists are taking the position that without the ability to tour, it's best to wait.
“In response to the growing pressure on the music industry to mitigate the damages done by the global pandemic, we have used technology to begin rescuing those in need and harnessing the power of live video streaming to do it. We believe our platform provides everything needed to achieve real results and Fan Pass does so in a way that’s both accessible and organized for artists and their fans. From the start, we aimed to give back artists a voice, a source and a platform to earn and to connect with fans, all while sharing in multiple revenue streams. With the global pandemic disrupting the industry, as well as the ever changing artist and industry needs, we are determined to provide our solution to those who are used to earning a living on the physical stages across the country, as we do the work to expose our opportunity to this massive group in need," said Friendable CEO, Robert A. Rositano, Jr.
What does precisely Fan Pass Live do? For starters, it breaks down the barrier between artists and fans, with artists broadcasting their events, concerts, and announcements to supporters directly from the Fan Pass mobile application or desktop. More importantly, it gives back to artists a way to remain relevant to their fan base and earn revenue.
Fan Pass Live Shares Revenues with Artists
It offers artists at all levels and genres, the opportunity to engage fans from one location, removing the need for multiple sharing platforms. It conveniently provides Exclusive Artist "Channels" jam-packed with all their relevant content from videos, photos, interviews, and past and upcoming events. While Fan Pass charges the fans a small transaction fee for ticket sales, artists keep the money earned from ticket sales. The handling of the merch is also taken care of by the company and once it's approved by the artist, all merch is released within the artist's channel.
While it's free for the artists to join, Fan Pass will monetize using an "ALL ACCESS VIP" Offering priced at $3.99 monthly subscription model paid by fans through its website or $4.99 if processed by the Apple App Store or Google Play Stores, with a three-day free trial. How sweet does it get for the artists? These revenues are shared with all Channel artists. In exchange for its platform features, live streaming tools, bandwidth, processing, and handling, Fan Pass will also earn platform fees on each separately ticketed event, as well as splits with each artist on subscriber fees and merchandise designed and sold on the platform.
Integration with Brightcove
Live Streaming integration has been completed with its relationship with Brightcove, a scalable, proven back-end infrastructure, on-demand scaling to meet high traffic demands and redundancy that is relied upon by some of the biggest brands, and significant events.
Robert Rositano, Jr. said, "We are offering a way for artists to do what they do best, be artists, let Fan Pass do the work. We aggregate their content, create their Channel graphics, and build out everything they need. Alongside their Channel, the Fan Pass team delivers merchandise designs to populate the artists' merchandise store, as well as delivering the Instagram ads they can use to promote to their fans/social followers when they choose to pop up a live performance, chat or meet and greet. The time has come for all of us to come together. I know we have learned so much, and it's time for us to give back with a platform like Fan Pass."
About Friendable, Inc.
Friendable, Inc. is a mobile-focused technology and marketing company, connecting and engaging users through two distinctly branded applications:
The Friendable and Fan Pass Mobile Applications.
The Company initially released its flagship product Friendable, as a social application where users can create one-on-one or group-style meetups. In 2019 the Company has moved the Friendable app closer to a traditional dating application with its focus on building revenue, as well as reintroducing the brand as a non-threatening, all-inclusive place where "Everything starts with Friendship"…meet, chat & date!
Fan Pass is the Company's most recent or second app/brand, scheduled for release in 2020. Fan Pass believes in connecting Fans of their favorite celebrity or artist, to an exclusive VIP or Backstage experience, right from their smartphone or other connected devices. Fan Pass allows an artist's fanbase to experience something they would otherwise never have the opportunity to afford or geographically attend. The Company aims to establish both Friendable and Fan Pass as premier brands and mobile platforms that are dedicated to connecting and engaging users from anywhere around the World.
Friendable, Inc. was founded by Robert A. Rositano Jr. and Dean Rositano, two brothers with over 27 years of working together on technology-related ventures.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by Friendable, Inc. The iTunes rankings should not be construed as an indication in any way whatsoever of the future value of the Friendable's common stock or its present or future financial condition. The public filings of Friendable, Inc. made with the Securities and Exchange Commission may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Friendable, Inc. cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, Friendable, Inc. does not undertake, and Friendable, Inc. specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Contact:
Friendable: Phone: (855) 473-7473 Ext. 101
Email: Info@friendable.com
www.friendable.com
