In today's world, it's incredible to see how technology is shaped by its early users. Whether it's the device you're using to read this or the software displaying it, the internet platforms thrive on contributions from an early community of users who are passionate about the product.
This phenomenon is most apparent in the world of content creation. Creators excitedly post their content to the latest digital streaming platform in the hopes of growing an audience. Through their use the platform, creators turn into advocates, aid in developing the product, and help it grow a user base. The problem is, the contributions of these early evangelists go unnoticed when the product is raises capital, gets acquired or goes public, leaving a community of early advocates empty handed.
The economic interest of the biggest content platforms is concentrated and often poorly aligned with their most valuable users, the content creators themselves.
There is a significant imbalance between platform earnings and creator earnings. Spotify generated a staggering $11 billion in revenue in 2021 while the average artist on the platform earned $625 the same year. This disparity highlights a fundamental issue: artists and creators, the lifeblood of these platforms, deserve a fair share of the rewards.
Phlote is an experiment to see what happens when you introduce the concept of user-ownership to music by enabling those who create music on the platform to earn a stake for contributing to its success.
Phlote isn't just for musicians; it's for anyone who loves music. Whether you're a budding artist, DJ, a dedicated fan, or simply someone who enjoys great tunes, Phlote invites you to be part of the movement to push music culture forward.
If you're as excited about this as we are, join us, and let's create the future of music together.