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Thread (1/12): When starting LÜM two years ago, we were the next evolution of the platforms that came before us.
We combined social, streaming, micro-tipping and tools for artists to share music, engage fans, monetize content, and collaborate with other artists. It worked.
We combined social, streaming, micro-tipping and tools for artists to share music, engage fans, monetize content, and collaborate with other artists. It worked.
We grew a community of over 200k artists that uploaded over 600k tracks. We became one of the largest user-uploaded streaming platforms all while artists monetized their fans in completely novel ways. We were disruptors and the industry noticed. But the music industry is complex.
Music is overly commoditized with a global catalog of free to near-free music. Leaving artists and intermediaries all fighting over the same slice of pie.
In addition, fans are overwhelmed by content spanning infinite interests, making content hard to monetize. It is tough.
In addition, fans are overwhelmed by content spanning infinite interests, making content hard to monetize. It is tough.
