To be successful in Hollywood, you need entrepreneurial tenacity similar to that of Silicon Valley. Yet although the two cities are in California, they are poles apart. The music industry is continually disrupted by new technologies pioneered by entrepreneurs in Silicon Valley. Instead of swimming against the tide, Grammy-winning R&B star Ne-Yo decided to go for it and work directly with a music app that expands its reach to ensure participating artists get paid.
The multi-platinum artist and his label, Compound Entertainment, have announced a partnership with LÜM, a streaming and discovery app that was previously mobile / iOS-only but has just released a web and Android-friendly platform called Exchange that emphasizes collaboration and monetization of artists. The goal is for emerging musicians to expand their fan base and earn money with LÜM’s in-app currency feature called Virtual Gift. It is a model whereby greater community participation leads to greater rewards, allowing artists to leverage the service as an entrepreneurial tool.