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06/07/2023
Article
Under-Compensation Cure: Remedy Connects Video to Subscription Music for Promo Plays that Chart and Pay

Remedy (remedytech.io) closes one of the value gaps that popped up when music went digital. Its core technology is simple—it knits video with audio from a viewer's music streaming service—but its implications are big: Every view helps a track chart and earns more royalties, no matter where it happens.

Artists' and labels' promotional efforts finally pay directly. Fans get to support creators every time they listen. DSPs get more opportunities to convert casual listeners into subscribers. Most importantly, none of this requires change in fan behavior, and all of it helps strengthen the bond between artist and fan.

Remedy's first product harnessing this tech is a dynamic artist onepage, a place to gather all your links, topped with an eye-catching video stitched to a fan's DSP account. Already road tested by major music companies like Big Machine, it takes the basic link list one step further. But as video formats continue to dominate social media, Remedy will soon be appearing anywhere fans and artists meet through videos.

"Any play that moves through our pipes earns more," explains CFO Kurt Linder. "Though we think Remedy will drive additional streams in the near future, we already know that it drives more compensation for the same work artists are already doing, right now."

Remedy is part of a larger trend of creators seeking compensation for all their work—and much of this work is effectively marketing. "Today, an aspiring artist is a digital marketing pro and regardless of their ultimate career goals, to sign to a label or stay independent, they need streams. In that growth cycle, Remedy serves them all the way through, even once they sign a label deal," says CEO Kevin Dailey.

The way through involves a lot of video plays; there are more uncompensated artist-fan touchpoints online than total DSP streams. Remedy allows these touchpoints to compensate artists for the first time. "Remedy turns artist-fan touchpoint into an economically positive interaction that can help an artist chart," states Dailey. "It breaks away from promotion as a giveaway, from the myth of unpaid exposure as the only way to reach people."

While monetizing what artists and labels are already doing, Remedy also helps fans stay in artists' orbits, instead of whizzing away thanks to social feed or an algorithmically queued next video. "If you're coming up in someone's feed, your potential fans are scrolling and they may move right past you, even if they connect with what you're doing. They aren't bonding," notes Eugene Joseph, CTO. "As an independent artist myself, we want to get fans into a longer-lasting, more immersive place and let them really dive into your music, buy merch or tickets, and start to enrich that connection. Remedy makes this way easier to accomplish."

The Remedy team is made up of huge music fans who want to help artists make a thriving livelihood. Dailey, a repeat entrepreneur who previously worked as a VC, believes, "starting successful companies begins with asking outstanding questions like what problems exist and who to serve." Driven by a sense of mission, Remedy aims to serve a social good so that everyone benefits: the fans, artists, labels, DSPs, the entire industry.

"Fundamentally, the company's name conveys the mindset of creating a 'remedy' to the problem of artists being under-compensated for their work," Linder adds. "We view it as a worthwhile mission. Entrepreneurship can be an art form, and just as well trained musicians use instruments, the Remedy team uses our business backgrounds to compose solutions that help artists make a livelihood from music."

"We continually push ourselves to ask high-quality questions like 'what would need to be true to massively improve the biggest problems facing the music industry?' We question the industry's limiting beliefs that marketing and promotion can only be an expense rather than a revenue-generating fan interaction. Why not ask a better question: 'Without changing the nature of the modern artist-fan interaction, and while complementing the current label system, why not drive streams that chart and pay?'" Dailey explains.

These questions led them to create a way for every play and stream to pay more, with minimal effort from artists, their teams, or their labels. Artists can simply sign up for an account, create a Remedy channel of videos and links, and start embedding Remedy-powered videos everywhere. Fans simply connect their subscription account with Spotify or Apple Music, with more DSP integrations on the way soon.

"Eight of the top ten influencers are from the music industry, " Linder notes. "Music is the single largest creator of content and influence online, yet it's one of the smallest of the entertainment industries. It's creating, but not seeing, the value." Remedy sees it, and is here to deliver it back to artists.