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Friendable Inc. (FDBL) Leverages Growing Music Streaming Market to Give Independent Artists More Control Over IP, Revenue, Through Proprietary Platform

  • Goldman Sachs’s yearly report on the global music industry expects music streaming revenues to reach $89.3 billion in 2030, with paid streaming contributing $55.6 billion and ad-funded streaming contributing $33.7 billion of the total
  • Friendable’s 360-degree artist platform offers independent music artists the tools they need to produce, distribute, and market their music while generating (and keeping) revenue
  • On average, artists lose 90% of streaming revenue to record labels, 10% to booking agents, and 15-20% of overall income to managers while feeling unsupported and controlled by these labels

The highly coveted yearly music industry update released by Goldman Sachs strives to answer the billion-dollar question – how much will the music industry be worth in 2030? The update suggests that global music streaming revenues will reach $89.3 billion in 2030, with paid streaming contributing $55.6 billion and ad-funded streaming contributing $33.7 billion. Goldman Sachs analyst Lisa Yang and a team of colleagues penned the company’s report citing that the reduced increase in its projection numbers is driven by higher paid streaming annual revenue per user and ad-funded streaming assumptions. The decrease also includes the decline in physical sales (https://ibn.fm/hbiqv).

On average, artists lose 90% of streaming revenue to record labels, 10% to booking agents, and 15-20% of overall income to managers. The fees are not the only problem; most artists feel a lack of support and a lack of control, in addition to their…

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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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