Online platform and app Insidr Music is set to launch in 2024 with users able to subscribe directly to artists.
The subscription model is similar to platforms such as Patreon and Substack, but opens up music streaming for unsigned acts.
With Insidr, fans subscribe to an artist and directly pay a monthly subscription price that the artist sets. The subscriber is able to get first access to new music and also stream unreleased music.
MIDiA reported that recorded music revenue for DIY artists who directly release music without a label grew by 16.6% in 2022 to $1.7 billion, increasing market share from 5.2% in the prior year to 5.7%.
Spotify recently introduced a threshold of 1,000 streams annually before it starts paying royalties.
We built Insidr to make sure unsigned artists could properly monetise their work
Kima Otung
Insidr said it is offering unsigned artists a sustainable monthly income and giving their fans access to more of their work such as demos, different versions of songs or fully formed tracks.
The start-up has been founded by former corporate lawyer and music artist Kima Otung and AI product engineer and musician Dan Ryland. Insidr launched in beta in late 2023 and goes to market fully this year.
Kima Otung (pictured), CEO and co-founder of Insidr, said: “We built Insidr to make sure unsigned artists could properly monetise their work and reach fans that really crave hearing more of their work. Patreon for video creators is valued at $1.5 billion with over eight million fans subscribing to over 250,000 creators – demonstrating a clear market for this model.
“For music, there is no equivalent and Insidr was created to meet that need. We have launched a platform that’s both ethical and viable, which artists have already started making money on, and we look forward to building the Insidr community.”
The app is live now: https://insidrmusic.com
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