From Forbes contributor, Brad Auerbach:
Readers of this column or almost any other publication dealing with the media business know that musicians have seen the most upheaval in their business. No longer is a major record label deal the ultimate brass ring; sales of music have evolved into renting…folks talk about trading the dollars of fixed formats like vinyl and CDs into the pennies for MP3 and streaming. Touring, merch and music publishing seem to be the ways to generate income for musicians these days. A couple years ago my brother pondered the idea of a digital tip jar, and I have been asking musicians new and old about the idea of being able to leave a few dollars while streaming an artist’s music.
Most artists love the idea.
Not surprisingly, brilliant minds continue to think alike, but in this case a company is implementing the idea.
Last week Songtradr, the fastest-growing music licensing platform in the world, announced new capabilities for artists to monetize their music careers. Fans will now be able to support their favorite artists on the platform and tip them directly, with 100% of the net proceeds going directly to Songtradr Pro artists.