Next Big Sound (a/o June 18th):
Re: My Song Was Played 3.1 Million Times on Pandora. My Check Was $39...
There has been a ton of talk circulating about a new company launching in January called Funn Networks. Its been a ten year in the making project and here's what we have thus far on information relating to the music industry:
FUNN COMPENSATES LABELS, ARTISTS & INDIES LIKE NO OTHER
Our mission is to provide a platform that provides both parity and transparency unlike all of the other businesses that currently make up the digital distribution landscape. It’s also time for everyone to get paid what they deserve and to eliminate the infighting between artists, labels and the consumer. So how do we plan to do that? It’s simple. Funn plans to pay all participating content providers up to 20 times more (not percent) then they are currently making today. Here are a few examples: Music Videos Our research shows that the two most popular video streaming companies pay roughly $0.01 per video stream to artsts/content owners. Digital Music News recently reported that a Top 10 artist had one of his video's shown 170,000,000 times yet he made less than one million dollars. LESS THAN A MILLION DOLLARS??? Funn is projecting that it will pay all artists (including Indies) roughly $0.10 to $0.20 per video stream. So if we streamed a video 170,000,000 times we would pay $17,000,000 at a bare minimum. We think this speaks for itself.
Internet Radio
There are numerous companies that make up this landscape yet they all pay the bare minimum to labels and artists. These payouts have ultimately led to artists fighting with labels because they feel they aren’t being compensated enough. In the labels defense, there simply is not enough money to spread around or pay artists with. We plan on putting an end to this. The major Internet Radio players, on average, pay roughly $0.005 per stream on a best case and even less to independent artists. Funn plans on paying $0.02 to $0.05 per stream. Yes, you read that right. Go ahead and do the math.
Concert Events
For some reason, just as with Music Video’s and Internet Radio, this is an area where artists and labels have failed to make revenue. Funn plans on putting an end to this as well. Funn projects it will pay (at a minimum) $5.00 to $10.00 PER USER, per a Funn based exclusive event. Yes, this amount is enormous and its meant to be- - It's about time artists finally make up for the money companies such as Ticketmaster, Live Nation and others have sucked dry. So how does this affect you? Well if your event, hypothetically, had 20,000,000 views, Funn projects the event will gross $100,000,000 in additional revenue.
Sync Licensing
Now its gets even more Funn. Did you know that millions upon millions of videos on sites such as You Tube are made by consumers who mixed a copyrighted song into a video without permission or a sync license? With Funn, we are going to offer a service called "Funn Sync" whereas consumers will be able to mix a song into a video and as a result will allow the artist to finally make money where they never have in the past. This is an area where the entertainment industry simply has failed to produce revenues. Funn projects it will pay out hundreds of millions of dollars per year in royalties for simply by “allowing” the consumer to sync content. For an example, check out a video on You Tube labeled "JK Wedding Entrance." It's a video that has been seen 76 million times. That’s 76 million times an artist, in this case Chris Brown, didn't make a dime.
--------------->Funn has a twitter page and facebook page. Hope this helps. Its time for the bs to stop. People need to be compensated for what they are worth!
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