Homeetc.NAMM 2012: Monkeybars social marketplace lets artists pay fans
January 27, 2012
NAMM 2012: Monkeybars social marketplace lets artists pay fans
AllDayTech swung by the Monkeybars booth at the Winter NAMM trade show last week to check out their intriguing new social marketing music site that pays both the artist AND the fans royalties for promoting creative content.
What? Make a little money just by telling other people about the music you like? I’m sure you’re wondering how this all works.
We spoke with VP of Product Phillip Zeelig, who boiled down the the Monkeybars premise quite simply: “Monkeybars rewards fans for promoting their favorite bands on social spaces.”
Monkeybars is a free online social marketplace through which independent artists can upload, promote and sell their own content–everything from music to movies to books to art. The artist also sets a royalty amount, or “reward,” to pay fans who generate a sale by sharing this content on their Facebook, Twitter or Google pages. Because there’s no middleman, the artist collects and distributes all profits themselves. And they can pay fans as little or as much as they like.
You read that right. Tell the world about that sweet indie band you love and you get paid! The band gets paid! Everybody gets paid! (Oprah outburst, sorry. We just got a little excited for a moment there because we think this is cool). Users can also log into Monkeybars via Facebook to browse, listen to or purchase content directly from the site.
Zeelig emphasized Monkeybars removes the limitations of e-commerce media sites, which usually pay independent artists just pennies on the dollar for every unit sold. He said Monkeybars’ main goal is to give these artists control of their marketing, money and let them build and connect with a community of fans. Fans who have always enthusiastically promoted their favorite artists can now enjoy a little compensation for their support. If it works as it was described to us and if fans and artists take to this model and support it, it sounds a total win-win.
Zeelig expects Monkeybars, which officially debuted Thursday at NAMM, to move out of beta in about a month. The platform will evolve based on artist feedback and market performance.
We think it’s a great concept with great potential.