In an instagram post by Scrybe Streaming CEO, Christian Phyfier, he shocked the streaming community with more insight into the app, declaring that the new streaming service coming June 16th 2020, is to never have third party business advertising, whether the listener is a free user or a premium user.
Within 1 month of the announcement of Scrybe’s release, the app has already gained over 50k minutes of content prepared to be released by over 600 artists. Along with that, the Scrybe Streaming Version 1 (V1) Conference is nearing its capacity. If Scrybe Streaming continues to grow at the rate it has after it launches the company is projected to be profitable within its first 18 months.
Phyfier stated that he would prefer Scrybe provide a unique experience rather than be greedy. Within Scrybe there are numerous avenues of revenue, but even more the Global Phenomz parent company owning a renowned digital marketing agency, studio database and other companies, we can assume that squeezing the artists and listeners is not something that will be necessary for this businesses long term direction.
The unique aspect is that for most streaming companies, ad revenue is an essential portion of what allows the company to become profitable. This is because the majority of the subscription revenue paid by listeners is dispersed to the artist as a royalty.
With Scrybe, the revenue that is paid by the listener goes directly to the artist, and the business earns its revenue from the success of each individual artist. So there are no damaging royalties to the bottom line, Scrybe will basque in the success of its artists, which encourages the company to always put the artists first.
In comparison to the current streaming business models here is how Scrybe is projected to be different in a nutshell.
- Currently if someone signs up to a streaming service (Not Scrybe) their $10 a month subscription is thrown into a royalty pool. Essentially the more the fan listens to music the more the streaming company has to pay the artist through their licensing agreement. So the business has to add advertisements to help create an avenue of revenue to protect the bottom line.
- With Scrybe the artist has the choice of how much their content is valued at and the user has the choice to pay it. Each payment goes directly to the artist minus Scrybe’s partnership percentage. If an artist charges .10 cents a month for their entire catalogue of music, and has 100,000 Scrybers, then that artist is making $10,000 a month. Scrybe earns a small portion of that, monthly. As the artist continues to grow, the business does as well.
When the music industry as a whole has millions of new artists per year, Scrybe has unlimited potential to generate billions of dollars, along with the artists who are using the app. With that type of revenue coming from small and large artists, it is understandable why Scrybe will never need to accept advertising from large corporations.
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Looking to be apart of Scrybe’s launch?
Artists & Podcasts – Pre-register to have your content and profile created before the June 16th launch by visiting www.ScrybeStreaming.com
If you would like to attend the Free Scrybe V1 Conference June 20th, you must first pre-register, then RSVP at the eventbrite link on www.Scrybestreaming.com
Photo Credit: WestEal Photography