The music industry is broken. The new OpenWAV application aims to change this

The music, the music, composer and producer Grammy Wyclef Jean says that the music industry is broken, which is why it is now participating in a startup, OpenWavThis looks forward to restoring power to artists. Through the OpenWAV application, Firing During the summer, artists can drop new exclusive music, communicate directly with fans, sell Merch, concerts, pop -up windows, listening parties, and more.

Later, you plan to start to provide more help to artists who use artificial intelligence tools.

Speak in wealth Mental storm technique This week’s conference, Jean, the chief creative official at OpenWAV, had harsh words for the music industry, especially criticizing the broadcasting services model.

He said: “If you are a new artist, the amount of flows that you have to (accumulate) get $ 10,000 is literally. So far you have a continuous revolution.”

Jean referred to Kardi B as a modern example of the problem, saying that although people thought it was funny to be on the street selling CDs and vinyl albums (that I did to promote Tiktok Her album), what she really did is to show how bad things for artists.

To put matters in their right quorum, co -founder and CEO of OpenWav Jason Ma“At the present time on Spotify … for $ 3,000, you must reach a million currents,” said, who spoke to Jean’s side at this event. MA is a businessman, investor and consultant in the media industry Many startups, Including musical.ly (which has become Tiktok), Trilller, Coinbase, Grab, and others, and participated in establishing multiple media companies and NFT OP3N app.

Clear what the broken model in the industry is the reason for the team in OpenWAV to build a music platform directly to Van.

“The algorithms are not a rewarding music,” and pointed out that ” Published for modern social media From the singer Lizo, who complained about the absence of “Summer Songthis year.

Then he explained that what artists need today are not a million listeners on Spotify, but rather 1,000 real fans.

“If you have 1000 real fans, it gives you $ 10 per month – a Starbucks Times Times 1000 – i.e. $ 120,000 annually as independent music artist. Think about it.” (Technically, it is $ 100,000 per year-it is possible that it is a mistake-but his point of view stands; there is room for income from direct experience.)

“Not to pay you Spotify. Instagram, Tiktok does not pay you. But your real fans will pay you. They will buy your tickets. They will buy your exclusive music – your music has been dropped first on OpenWav.

Of course, OpenWAV is not alone thinking about converting “super fan” into a flow of revenue for artists. Spotify itself talks about building a super fan platform for some time, as investor tells of its profit calls aimed at launching a New installment This would meet the needs of fans who will get early access to concert tickets and more features and other privileges. The company negotiates with stickers like Universal and Warner Music to achieve this.

OpenWav will not necessarily target major artists, as is the case. Instead, this will be after independent artists and others who just started.

The concept is not completely new. Spotify tried to enter this space as well Indye artists to download their own music Once again in 2018. But this effort Soon it was closed After the company faced Presse from its label partners Those who felt that this step would reduce their sales.

MA, in response to a question about what makes OpenWAV different from other fans ’platforms, admitted that there are competitors on the market today, but they have argued that no one would do everything OpenWav does in one place.

He said: “When you come to OpenWAV, you can sell tickets and earn 80 % of profit – 20 % (go to) the platform, allowing you to sell tickets to your offers.” “Everyone who buys a ticket goes to the event chat, such as the dispute, and I was literally able to communicate, integrate and communicate with people who buy tickets to your offers,” Follow. “Then you can already drop Mirch in the same community with zero costs, not stock, global.”

Artists on the platform will have their fans, such as the e -mail addresses for fans and phone numbers.

The platform allows artists to use Merch design, and Jean and MA expressed their enthusiasm for technology. Jean pointed out that artificial intelligence can help music artists to create more than before, and what indicated that even the recording producer and songwriter Timbanand uses Music Music Service Suno as samples to help him do more with his current music.

In OpenWAV, they plan to use artificial intelligence to help artists in the way the manager can, by suggesting things like tours or Merch ideas, as well as providing tools for making art or lyric videos, for example.

“What we see with artificial intelligence is that artificial intelligence will be your best friend as an artist.” Meanwhile, OpenWav is available IOS and Android Consumer devices.