Indigenous music streaming platform, uduX, in partnership with PiggyVest, has announced a new product calledthat would allow fans to invest in the music catalogues of artistes, and share in their earnings.
According to the Chief Executive Officer of uduX, Chidi Okeke, the programme would be launched in May 2021. He added, “PopRev will give artistes access to funding, with no intention of buying out their master tapes. We are creating a new artiste revenue model driven by fans’ social engagement and the new normal of ‘sharing’. We want to give investors access to metrics and the performance of their investments on demand.
The CEO of PiggyVest, Somto Ifezue, also stated that the initiative would open up the market for more data-driven investment. He said, “This is a very innovative solutions platform within the music ecosystem and we are thrilled to work with them. This is a music business solution that builds equity for African artistes and it will be very attractive to our investors.