Earlier this year, Symphonic announced an affiliate partnership with FORMLESS, enabling artists and labels to expand the way they distribute music through the Share protocol, directly with them. Here’s how it went with Brandon Tory, a long-time Symphonic artist, and the first artist to release a song using the Share distribution technology for his latest song, “Money Can’t Buy Love”…
Everything You Need To Know About Formless’ Share Protocol
How does it work?
The Share Protocol (SHARE) is decentralized distribution using peer-to-peer, pay-for-access micro-transactions on blockchain, created by their team with the mission of creating virtual and physical experiences that enable people to live more fulfilling lives.
With SHARE, Symphonic artists can work directly with Formless and their product to gain even more control over their success path by easily creating smart contracts, determining audience access, setting a price they choose, enabling permission less curation, revenue sharing and receiving instant payments. — SHARE is the new way to distribute your media, where you can succeed on your own terms.
- This technology allows for setting content prices, immediate payment to contributors, and the ability to share revenue directly with fans via the latest feature, ‘Liquid Splits.’ Brandon Tory, a long-time Symphonic artist, is the first artist to release a song using the Share distribution technology for his latest song, “Money Can’t Buy Love”.
Check out a breakdown of how the release came together, and learn how you can do it too…
What We Did
Launch Strategy: The FORMLESS team developed a comprehensive strategy to launch the song via Share, which uses a smart contract for managing rights, enabling direct and instant revenue from streams of the song.
Split Allocation Strategy: Brandon’s team worked to determine the price of the song and the split allocation that would distribute revenue from the streams directly to various rights holders including the artist, producers, distributors, and the public.
Rollout Cadence: Finally, the team planned a comprehensive rollout strategy involving 30+ pieces of content, created in partnership from Brandon’s archival footage and interview clips. The rollout culminated in a Live space where audience members and fans were able to claim a percentage of “Money Can’t Buy Love” in real-time by opting into the liquid splits via Share.
- 500X increase in revenue-per-stream compared to traditional streaming
- 200X faster time to revenue, with instant payments
- $160 earned in 24 hours from 100 streams
- Revenue Sharing: All community splits claimed in 30 minutes
- Engagement: 5000% increase in song link clicks, 177% increase in impressions
Formless and Share directly paid 60% of passive revenue to the contributors and the community split holders. When it comes to building his community, 35 new emails were collected, forging deeper connections between creators and their consumers. After all this, the potential for growth in the future from these efforts increases exponentially, expanding his community revenue sharing beyond music to other digital assets and products.
Interested in trying this for yourself?
Please reach out to formless.xyz/creators if you would like to discuss how to create similar results as part of your upcoming release strategy.