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.”
With all its similarities to crowd-funding, the new tool could be met with a backlash. When Zosia Mamet of hit TV show Girls formed a band with her sister and asked for $32,000 to shoot a video in 2013, the response was harsh to say the least.
Irony: the word privilege is misspelled twice in the Mamet sisters’ kick starter: http://t.co/IbE94GBlXN
— Jessica Grose (@JessGrose) May 29, 2013
And who could forget the backlash following Amanda Palmer taking a record-breaking $1.2 million via Kickstarter to support her new album and tour?
Granted, both Mamet and Palmer were deemed already financially successful – and Songtradr is simply creating a new revenue stream for artists who are already hindered by a digital music industry – but fans can become cruel mistresses when asked to pay for more than the music.
Songtradr has officially raised $6m in investment to date and recently, inked a partnership with global retail music provider Mood Media, which has an office in Sydney.