The Company is Accelerating its App Release to Provide Entertainment to Those Affected by COVID-19, Celebrity Music Artists and their Fans Following World Wide Concert Tour Cancellations
Friendable, Inc. announces plans to accelerate its release of the Fan Pass Live Streaming Video application. The world has changed in recent weeks and Friendable is adapting its Fan Pass business model to allow Artists of all genres to share Live Video experiences, new music and event style entertainment that can be broadcast from the artists to their fans, directly from the Fan Pass mobile application.
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“Originally our goal for Fan Pass was driven by the desire to Live Stream the “Backstage Experience” of a concert event and open it up to all fans world-wide, but the world as we know it has changed and we must adapt. Management believes it is time to deliver our Fan Pass app, to support the Artists that want to monetize their events, create donation offerings and give to one of the official COVID-19 relief funds, all at the same time. Offering certain live entertainment for free during these times will remain a constant in our opinion and it would be a wonderful thing to not have to worry about finances during these times, yet that is not a reality for most Artists,” said Robert A. Rositano, Jr, CEO, Friendable, Inc.
Fan Pass has recently engaged several of its current investors for a small private offering/capital raise, which ensures the Company’s ability to lock in the first two music artists and properly support the app’s functionality through rollout. Friendable, Inc. is seeking to raise $300,000 to finalize its plans and launch these two events in April 2020.
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Friendable has currently received commitments for a significant portion of the total offering to date and believes the Company will achieve a closing in the coming weeks. The offering includes a significant revenue share starting at 20% along with an equity ownership component.
“Upon completion of our capital raise and app rollout, a portion of funds received from each event will be put toward the COVID-19 relief fund. Additionally, we believe there are fans across the globe that are ready to support their favorite artist, pay a small fee for a live online event and more importantly support the fight against this world-wide Pandemic by signing up for a $2.99 Live entertainment stream, which will be brought to the world by Fan Pass,” concluded Rositano, Jr. CEO, Friendable, Inc.
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