Musiconomi Announces First Strategic Partnership With Substream
Laying the groundwork for global expansion
We are very excited to announce a new partnership with Substream Music Group. As Musiconomi moves to become a truly global brand on the blockchain, the Substream partnership is an ideal fit for its platform and sets the stage for many others to follow.
Substream Brings Valuable Expertise
Swedish electro/pop label Substream was founded in 2004 by Håkan Ludvigson, Mikael Arthursson, and Jonathan Karlsson. They house 450 artists (including remixers) and have released such amazing artists as Lettercamp, This Morning Call, Rubikon, Auto-Auto and others, many of which have topped the charts on Billboard and iTunes. Substream is managing a total of eight subsidiary labels for dance music (www.clubstream.se) and downtempo electronica (mareld.substream.se) and operates as a publisher, making the label a partner with uniquely valuable experiences.
“The music industry is in desperate need for a faster and more efficient solution for royalty payments. We believe that blockchain technology with smart contracts has the potential to make both distribution and royalty accounting direct and efficient, and we are excited to be the first label and strategic partner with Musiconomi to make our catalog available on the platform,” said Håkan Ludvigson, entrepreneur and Substream co-founder.
Additional Partnerships are Coming Soon
As much as the Musiconomi platform is designed to benefit artists by enabling immediate and direct payment, there is also plenty of opportunity for labels to enjoy those same benefits that come with the use of of smart contracts and blockchain technology.
Developing strategic partnerships is a key element of the Musiconomi platform, and the team continues to actively explore opportunities to bring others on board.
Preparing the Terrain for the Crowdsale
Although partnering with one of Sweden’s largest independent record labels is exceptionally good news, we are aware of the current market conditions and understand that supporters may be understandably cautious and concerned by the recent downturn. That is why we decided to postpone our crowdsale by a couple of weeks. While crypto markets are volatile, we are confident in the future of both crypto and token crowdfunding and know that the markets and supporters will soon be reassured. We’re looking forward to announcing our new public crowdsale date soon.
This delay will also give us extra time to work on our strategic partnership program, proving the value of Musiconomi to artists, record labels, listeners and of course supporters.
We will gladly answer all your questions sent through social media channels and you are of course always welcome to come chat with us on our Slack.