Fanatic.fm Connects Bands With Brands For Charity
How to monetize music is the biggest challenge of the post-Napster music industry. At Midem 2010, Ian K. introduced himself with an exciting concept that's a four-way win for artists, brands, charities and fans. I've acted as an advisor since and late last week, Ian launched fanatic.fm in beta with Samsung Imaging as the lead sponsor. Here's how it fanatic.fm works and an intro video:
Artists upload music to fanatic.fm where brands and fans bid to sponsor it. After the band's approval, sponsors can use the music in their own social media campaigns and co-promote directly within the music player.
Every time the music is played using the fanatic.fm player, which can be embedded in any site or social media page, the band is paid and a portion goes to an approved charity. Watch the intro video, visit fantatic.fm and come back to share what you think.