Friendable Inc. (FDBL) Entering Q4 Focused on Digital Advertising and Social Media; Aims to Attract Artists Across a Variety of Musical Genres
Focused on artist acquisition and genre diversity, mobile technology and marketing company Friendable recently began testing campaigns on Facebook and other networks for their Fan Pass platform. These digital advertising and social media campaigns were designed to attract artists across various musical genres. As initial results from testing are received, the company plans to extend its sights to other platforms like Google, YouTube, and TikTok (https://ibn.fm/D4TyF).
Having recently concluded its initial 120-day plan, Friendable has entered the remaining 90 days of the year looking to extend its brand awareness and artist offering. The company plans to include genre-targeted individuals, including industry managers, venues, and music-related booking services. To this end, Friendable has been working with Lobeline Communications, which is handling all of the company’s public relations and accelerated social media coverage.
Marketing Technology News: MarTech Interview with Elli Dimitroulakos, Head of Automation, Americas at Acast
“As we enter the final quarter of the year, we have our sights set on testing, converting, and growing our artist and fan bases. At the same time, we continue monetizing our service offering and fan subscriptions,” Friendable CEO Robert A. Rositano Jr. said in reference to moving into the new year. “From inception, the Fan Pass Livestream platform has seen our business model perform at a micro-level; now, it’s time to add some scale to our artist and fan subscribers, as well as testing additional fee-based service offerings that are truly needed and appreciated by the independent artist community.”
The Fan Pass platform is artist and fan-oriented, with newly designed applications available for Android and iOS operating systems. The live streaming community built by Friendable through Fan Pass allows artists to generate revenue and fans to listen to the artists they love while discovering new ones through a musically oriented community of like-minded individuals.
Artists have the opportunity to use Pro Services, a hand-selected assortment of resources available to artists (at a cost) to develop merchandising, logos, social media posts, and more. The online shop allows artists to purchase equipment and other items they may need for their performances. Fans sign up, paying a monthly fee, to gain access to their favorite artists, with the opportunity to purchase exclusive merchandise and tickets to exclusive VIP shows.
Marketing Technology News: MarTech Interview with Jason Brown, Addressable Advertising Lead for WarnerMedia Ad Sales
According to Rositano, as results of the company’s campaigns unfold, Fan Pass will report on metrics, conversions, rankings, and revenues that have garnered enough traction to extrapolate results and push for scale as the campaign builds momentum or adjusts based on response rates. “We remain focused and confident about what we have seen to date – it’s all about relationships, scale, and continuing to iterate our technology as we grow,” he added.
The Fan Pass platform’s remarkable growth and increase in popularity comes at a time when the entire live streaming market and creator economy are experiencing an upward trend. It is estimated that consumers will spend a total of $6.78 billion on social apps in 2021. This amount is expected to grow at a CAGR of 29%, resulting in an estimated $17.2 billion spent annually by 2025. The U.S. and Japan currently dominate this market, spending more than $1.5 billion on social apps during H1 2021 (https://ibn.fm/Qq8E4). Additionally, research indicates that 740 billion hours of consumer time was spent on social apps in Q2 2021. The total time spent on live streaming apps on Android phones alone is set to exceed half a trillion hours outside of China by the end of 2021.
Marketing Technology News: Kayne Partners Named to Inc.’s 2021 List of Founder-Friendly Investors