Music app

Ne-Yo to partner with new music streaming app

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.

Ne-Yo’s collaboration with LÜM differs from, say, Jay-Z’s approach to launching Tidal, which swam upstream by removing the rap mogul’s music from Spotify (although he later reversed the course on this point). And that was informed by other warning stories about music and tech, like when U2 had their album preinstalled on all new iPhone 6 devices, much to the dismay.

But that was the early days. Today, the transition from a successful recording artist to a tech mogul has become much more sophisticated. And by partnering with LÜM and its exchange, Ne-Yo has set itself the goal of being a leader amid the hottest tech trend, cryptocurrency, which is set to disrupt a financial services market. which is expected to reach $ 26.5 trillion by 2022.

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“Technology has come to play a huge role in our lives, sometimes for the better, but sometimes disrupting systems that could have been better left untouched,” Ne-Yo told me in a recent interview just before the debut. ‘Exchange. “Rather than complaining about the challenges we face as artists, it is important for us to find new opportunities and embrace these tools that can help us rewrite the rules in a way that preserves the arts. .

Artists can upload their content to the app, where fans can discover artists and stream music by re-sharing songs with their friends so that the app becomes an ecosystem of digital assets traded and sold with its currency. virtual, encouraging artists to earn income. “LÜM is one of those rare tools – it totally changes the musical landscape for artists who are struggling to earn an income,” added Ne-Yo. “It lays the foundation for independent artists and fans to see what the future of music may look like to them.”

LÜM’s virtual gift service is available without a minimum threshold for subscribers or video views. This contrasts with platforms like TikTok which maintain high thresholds, making this revenue channel unavailable to newbie / emerging artists. As LÜM’s co-founder and CEO said in our interview: “The virtual gifts feature has allowed us to offer tens of thousands of independent creators a new way of looking at their careers – to help them grow. build stronger relationships, network, collaborate and make real money. “

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Time will tell if LÜM meets Ne-Yo’s expectations, but the bet is further proof that being an artist and an entrepreneur are two sides of the same coin.

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