Music licensing company Songtradr has introduced a new tool to its platform which is sure to be polarising. It enables fans to directly ‘tip’ artists money online.
The Santa Monica-based company allows for 100% of the net proceeds going directly to its more that 100,000 Songtradr Pro artists.
It’s an interesting move for the worldwide marketplace for music licensing, which was created to pitch works to media companies in the TV, advertising, digital and film realms.
After an artist uploads their song to a public profile page and chooses a featured track, they can start receiving support from fans. Anyone can tip any amount over $1.
Paul Wiltshire, founder and CEO of Songtradr said:
“Many music fans want to be able to tangibly support the musicians they love, and when they buy music or merchandise, especially through third party providers, only a portion of that money actually ends up in artists’ hands.
“With Songtradr’s new features, artists can have their own profile and streaming interface to share with their fans, who in return, can reward them directly.”
Fans who tip can also leave a comment for the artist, as well as share the news on their social networks.
Wiltshire added: “Songtradr is a place where artists can monetise their music in the most direct ways possible, via licensing opportunities and ‘direct-from-fan’ support.”