LÜM’s streaming platform is built on a social network that enables emerging artists to circulate their music and grow their fanbase. The LÜM social network focuses exclusively on emerging artists and gamifies music discovery by increasing fan-to-fan and fan-to-artist engagement. Artists upload their content and engage with fans on LÜM’s platform. Fans discover artists and tracks by sharing, ranking, and engaging with their friends and communities. By rethinking the interaction between social media and streaming, we hope that LÜM will eventually become a digital “talent pool” for live entertainment around the world.
ARTISTS AND LÜM
After spending countless hours researching the music industry, we came away with this:
The barrier for making money as an artist through streaming is astronomically high, even though streaming, in general, is growing exponentially.
Current streaming alternatives are ineffective for promoting music as an artist, and equally ineffective for discovering music as a fan.
Concerts, tours, music festivals, and live music entertainment still create the best opportunity for all artists to earn income.
These realities helped us shape our platform to fit with our overall objective. We plan to use streaming as a means to an end to get emerging artists into live entertainment, and eventually signed by artist management and promotion companies.
Current streaming platforms are predominantly created for and tailored to mainstream music. More than 99% of audio streaming on current platforms consists of the top 10% of streamed tracks. This means that less than 1% of streams account for all other music. These streaming services increase the disparity in music promotion rather than reduce it. By focusing solely on up and coming music, coupled with passionate fans who want to discover all of the real music out there, we hope to change the way people view the success of the music industry. LÜM will only hold music from up and coming artists with the goal of circulating more new music between friends and local areas to increase artist and music discovery so that we can grow the careers of the undiscovered artists out there.
FANS AND LÜM
AI algorithms created by current streaming platforms recommend music that is mainstream and likely not always related to the music that fans are interested in. LÜM removes the digital monetization of music discovery and replaces it with human beings. Exploring new music by sharing, ranking, and engaging with friends and the people in a local area is what LÜM stands for. We want friends to be able to create a continuous, daily space for music discovery that is powered by organic music promotion as a result of the LÜM social network platform. Therefore, venues and other live entertainment spaces will become more involved with music styles in their local target market as fans progressively show what music is trending in those specific areas and genres. This will also be a huge key for artists that are on the LÜM platform.