LiveRoom is a Columbia Startup Lab startup launched in April 2020 aiming to empower music artists globally to achieve their goals thanks to a supportive network of music professionals.
September 22, 2020 – LiveRoom Media addresses the challenge of a lack of sufficient online monetization options and remote professional networking opportunities within the music industry.
As two-thirds of creatives lost the majority of their income as a result of COVID-19 and social media platforms started overflowing with clutter, LiveRoom aims to provide a highly targeted and specialized platform for the music industry where musicians can monetize their performances regularly, music fans can get invested in their favorite creative’s success, and where all the members can network, upskill, and find mentors to advance their music careers.
“We interviewed more than 60 independent and up-and-coming musical artists and all of them concurred that in addition to a lack of monetization options for musicians, it’s difficult to connect with industry people due to too much clutter on general social media platforms such as Facebook or Instagram. LiveRoom aims to change it by providing a highly-targeted solution for the music industry,” says Gabriela Naumnik, LiveRoom’s Co-Founder and CEO.
Currently, artists can expect to earn between $0.006 and $0.084 per stream on Spotify, which is not enough to make a living off the platform. LiveRoom offers artists multiple monetization options, including keeping 90% from in-stream contributions, receiving 50% from LiveRoom subscriptions on a monthly basis, and future help with selling artist merchandise.
“It’s a platform created by musicians for musicians,” says Klementyna Bohdanowicz, LiveRoom’s Co-Founder and CRO/CMO, “You need to get verified as an artist to perform on LiveRoom, and if you’re not there yet, the LiveRoom network will help you out.”
LiveRoom is a result of an entirely remote 5-month-short collaboration between 4 Co-Founders: Gabriela Naumnik (CEO), Klementyna Bohdanowicz (CRO/CMO), Konrad Krawczyk (CTO), and Sara Bruszt (CDO), all of whom met during their undergraduate years at NYU in New York and Shanghai.
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YouTube Video – https://www.youtube.com/watch?v=fy8P5ZbeVkM