LOS ANGELES, CA / ACCESSWIRE / November 2020 / Artists are already signing on with AmplifyX, a platform allowing people to directly invest in both established and emerging artists. In an industry that has long been seen as impenetrable for outside investors, CEO Adam Cowherd notes that the time has never been more ripe for a surge in music investment. "The younger generation is more financially active than ever before," he notes. "Due to smartphones, it's just as easy to buy a stock as it is to listen to music."
AmplifyX's Beta comes at a time of anticipation for the music industry. Despite the short-term drop in revenue due to live concert cancellations across the globe, a report on the music industry predicts an overall rise to $131 billion by 2030. As investors increasingly recognize music as a valuable and reliable alternative asset class, new investment opportunities are set to play a major role in this predicted climb. Music can be a smart alternative investment to hedge your portfolio, along with art, cars, trading cards, and more. As various funds and public companies have been created as vehicles for music investment-most notably Hipgnosis Songs Fund and Round Hill Music-the appetite for these investments rises into the billions.
AmplifyX opens possibilities for direct artist-investor relations based on transparency, trust, and consumer confidence. In addition to being registered with the SEC and a member of FINRA, AmplifyX evaluates emerging artists for a baseline number of online listeners, social media followers, and a core management team-metrics that potentially indicate the likelihood of quality investments.
AmplifyX's first artist is Detroit native Rocky Badd. To date, Rocky has amassed over 330,000 social media followers and over 11 million YouTube views as a fully independent artist. Rocky Badd is partnering with AmplifyX to allow her supporters to invest in a piece of her work. "It's the ultimate way to give back to those who have believed in me over the years," she says.
As investors build portfolios of the artists they want to support, AmplifyX's desktop and mobile-friendly dashboard offers detailed analytics of each potential investment, including play numbers, listener paths, and catalog insights. When the time comes to make choices, investors are well-informed, armed with consumer confidence and the power to affect major change for artists they choose to invest in. AmplifyX democratizes access to the music industry and, in turn, gives artists an alternative financing model.
For the artists, that path includes retaining control over their intellectual property, creative freedom, as well as up to 90% of their royalties. Partnerships between AmplifyX and companies like Chartmetric, Cadenza.tv, CrowdFreak, Jeeni, and The Rattleoffer resources and infrastructure that artists would typically find at a record label.
In a music industry that's long been criticized for its tendencies toward artist exploitation, AmplifyX's well-regulated artist investment ecosystem carries the promise of growth and change. Many established artists are leaving behind once-traditional record labels for independent ownership. In fact,a report estimates that indie artists will generate $2 billion in revenue in 2020. "AmplifyX works for the independent artist, allowing them to retain their rights while providing them with an alternative financing source and another vehicle to foster artist-to-fan engagement," says VP of Business Development Kelli Richards, whose industry experience includes having launched and led Apple's initial focus on music and having been a label exec at EMI Music.
The AmplifyX solution means a bright future for artists, investors, and listeners alike. "If artists have people who really care deeply about their music, and are willing to put their money where their ears are, we're going to see the potential for incredible opportunities for all parties," says Cowherd. He and his team at AmplifyX are ready to open up the music industry to investors looking for a new, evergreen option-one with the power to effect widespread change and open doors that have long been closed to external investors.
Company: AmplifyX
Email: [email protected]
Phone number: 213-577-4929
Website: www.amplifyx.com
SOURCE: AmplifyX