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Ooki - Product Story

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GN
Guvanch Nurgeldiyev
Universal Music Group, Sony Music Entertainment, Warner Music Group, and Merlin accounted for approximately 82% of Spotify music streams in 2019 [1]. Which means, the majority of music market controlled by a few giant companies, not by music creators.

The problem in music industry

We’ve been passing through tough times. Many of us have suffered from the pandemic outbreak somehow. Remember, in Italy people started to playing music on their balconies to have a slightly better time.
That was hope for the future. However, the same musicians have suffered the most from the pandemic. Because they no longer can be on stage, it’s still the same. Meantime some companies earned billions. [2][3] This outlines the bigger problem in the industry. Creators are not owners of their work. Fortunately, it is changing slowly.
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As you can see 2019 numbers of independent labels and artists are growing much more than major label companies. [4][5]

Our goal

To accelerate this change, we’re going to build automated and connected features within our product. Our goal is to help independent musicians to become self-sufficient without the major labels. They don’t need our donations, they need much more awareness by the audiences. In my personal opinion, they already creating great work, but you know it just not possible to compete with heavily funded marketing campaigns. So our product roadmap is following these;
Independent music discovery based on audio features
Artist - fan engagement features
Raising money from the crowd by selling equity of music ownership

We already released the first feature - music discovery - on our web app, this will be followed by Apple Music & YouTube Music connection and mobile app.
If you wanna find out something unique, please check it out 👉
Ooki
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Thank you, go independent.

Sources

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https://www.ifpi.org/ifpi-issues-annual-global-music-report/
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https://www.digitalmusicnews.com/2021/02/03/sony-music-q3-fy-2020-earnings/
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https://www.digitalmusicnews.com/2021/03/30/bmg-2020-revenues-2/
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https://www.midiaresearch.com/blog/independents-grew-fastest-on-spotify-in-2019-but-theres-a-twist
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https://www.forbes.com/sites/melissamdaniels/2019/07/10/for-independent-musicians-goingyour-own-way-is-finally-starting-to-pay-off/
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