Earlier this week, the App Store removed Musi, an unlicensed music streaming app. This development is being underreported, but it's a huge story.
According to various reports, Musi, which operates in a legal "gray area," has generated an estimated $100M+ in revenue since Jan 2023—NONE OF WHICH IT HAS PAID TO RIGHTS HOLDERS.
The removal, per Torrent Freak, came after pressure from music industry groups, including IFPI and the NMPA, and follows extensive complaints about Musi not compensating creators. With over 100 million downloads, the decision to ban Musi should lead to significant financial gains for the music industry.
Source: https://lnkd.in/gUVpprhz
In May, WIRED reported on Musi's popularity among "thrifty teens" who lacked the disposable income necessary for a subscription service. "In one classroom of sophomores that WIRED surveyed at a Chicago high school, 80 percent used it to stream music."
Source: https://lnkd.in/gt2Bxga8
At Audiomack, we understand the challenges younger music consumers face—lack of access to credit/debit, hard-capped data plans, and unreliable WiFi. That is why our freemium model is such a hit. However, in contrast to Musi, a significant portion of our revenue is allocated and paid out to rightsholders.
Whether you use Audiomack as your primary DSP or as a supplement to another provider who offers an ad-supported tier, like Spotify, it's crucial to understand how your actions impact the artists you love. Streaming through legal means is paramount to supporting artists.
You can download Audiomack for FREE in the App Store and Google Play today—we don't require a credit card. Our more than 35M MAU enjoy our best-in-class human curation, the ability to listen to music offline, and Audiomod, a game-changing playback tool.
Read More: https://lnkd.in/gWWUEiJf
#MusicStreaming #MusicIndustry #MusicBiz #DSPs #Audiomack #Spotify #IFPI