Succeeding in Hollywood requires entrepreneurial tenacity similar to that of Silicon Valley. Yet even though both cities are in California, they are a thousand miles apart. The music industry is continuously disrupted by new technologies pioneered by Silicon Valley entrepreneurs. Instead of swimming against the tide, Grammy-winning R&B star Ne-Yo decided to jump in and work hands-on with a music app that expands its reach to ensure participating artists get paid. .
The multi-platinum performer and his record label, Compound Entertainment, have announced a partnership with LÜM, a streaming and discovery app that was previously mobile/iOS only, but has just launched a web and Android compatible platform called Exchange that emphasizes artist collaboration and monetization. The goal is to enable emerging musicians to expand their fan base and earn money with LÜM’s in-app currency feature called Virtual Gift. It’s a model in which greater community involvement leads to greater rewards, allowing artists to leverage the service as an entrepreneurial tool.