Note from the CEO: OK, a way to participate in new music. Very interesting. New site Livamp now offers everyday people a way to participate in new emerging music artists. Who doesn’t want a piece of the next Taylor Swift or Kanye West? And through a crowdfunding platform as well.
“In 2015, for the first time in last 15 years, music industry globally registered a growth of 3.2%. Total digital sales contributed 45% of industry revenues, overtaking physical’s 39% share. Digital revenues rose by 10.2% to US$ 6.7 billion. But there is still an elementary weakness underlying this recovery. Music is being consumed at record levels; however, this explosion in consumption isn’t returning a good remuneration to artists and record labels. Thanks to a market distortion leading to a “value gap”, artists and labels are being deprived of a fair return for their work.
This gap is particularly acute for young artists looking to establish themselves. Money needs to be spent on marketing the talent before it can start producing returns. The market needs investors who can take the risk of introducing talent to the world. Though patrons have been doing this for centuries, the internet has the power to amplify the process. This opportunity was the driving force behind the inception of Livamp.”