A recent fundraiser
Audius performed this summer a $ 5.5 million fundraiser. A few months later, the “blockchain-based music platform” opens its doors in a beta version full of promise.
Although its musical catalog is currently composed of only a hundred artists, the startup aims to compete with SoundCloud which no longer satisfies artists and has experienced some difficulties in recent years.
Audius does not hesitate to point out that its service is thought above all for musical artists and already allows them to upload their music for free to its site and share it freely. The platform benefits from the support of some artists like deadmau5, Rezz, 3LAU or The Stafford Brothers.
For the moment, the service is completely free, both for uploading the songs and for listening to them unlimited. The monetization phase should start in 2020.
Fill the gaps in SoundCloud
Many musicians and creators complained about the costs of hosting SoundCloud, the aging user experience, and the quality of the site, which has been deteriorating in recent months. Audius, its new competitor, therefore jumped at the opportunity to offer artists a new digital place to host their musical content.
Other information that should encourage music artists to switch from SoundCloud to Audius: the monetization program will be based either on advertising, or on subscriptions and 90% of the income will be directly donated to the musicians.
The platform already seems to appeal to artists: “Audius is exactly what I expected”said Choice, a hip-hop artist from Los Angeles. “I look at the artists I loved to abandon their independence to be better known. Is it too much to want both? No, and that’s what Audius offers. I want to recover my data. I want to be fairly compensated for my art. Audius is a game changer for both artists and listeners. “