Rapper JR Shares How Much His Distribution Start-Up Fyve World Aims To Pay Out In Streaming Royalties
SRapper JR Shares How Much His Distribution Start-Up Fyve World Aims To Pay Out In Streaming Royalties. south African rapper and entrepreneur JR took to Twitter to share how much his distribution startup Fyve aims to pay out streaming royalties for independent artists. The post read, “There’s an artist distributing through @fyveworld and has made R17k in 3 months!! We are targeting to pay out R500k – R1M in streaming royalties to Independent artists in our first financial year.”
The rapper also revealed that there is an independent artist that uses his distribution platform that earned R17 000 in just 3 months. This shoes that this is a platform where independent artists can not only build their careers but can also earn a living through the Royalties that their music makes. When artists are signed to a label they usually earn a little to none of their share of the music Royalties, when they are independent and are using Fyve, they can earn all their Royalties with no hassles and the money is deposited straight into the artists bank account.
With the projections that the company has set, it means that they will be signing up more artists and to make sure that they receive the Royalties that they worked hard to earn. The company seeks to make it easier for artists to be on to top of their music finances because they can survive and live off their Royalties when they handle their business in a professional manner. Fyve World targets to pay out R500k-R1M in streaming royalties in its first financial year, this shows that this distribution platform is getting more clients and its growing its impact.
Fyve is a Mobile Phone Music Distribution App, that allows music makers and creators to upload their music from their smart phones without having to submit tons of paperwork and music through web based aggregator or label services. As a mobile distribution tool, servicing the African continent, the first of its kind on the continent, Fyve is on a mission to deliver cutting edge, accessible, high tech to the man on the street. Fyve’s vision is to reduce the digital gap between creatives and technology and make distributing music easier.
