Artistree is a multi-faceted platform that centers on the concept of being monetarily rewarded for predicting an artist's success. A fan will browse through a database of artists ranging from extremely successful to those still seeking to solidify a fan base. Once the user finds an artist they believe will be successful, they can invest in the artist through our platform.
We measure the artist's success by the number of streams accounted for over on the four most popular streaming services: Spotify, Pandora, Apple Music, and Soundcloud. Based on whether the artist’s streams go up or down on a week-to-week basis from the time of investment, the user either makes a gain or loss on their investment. The stream count percentage change is directly correlated to the monetary returns of the user. If a user invests in an artists and the artist stream count goes up by 12%, the user has a 12% return on the day.
The user can develop a portfolio of artists to invest in. This portfolio would allow for a social component, in which users could "follow" other users and track their investment profiles and thus compete with friends or mimic their investments. Artists themselves would also be encouraged to have profiles, which allows users to connect with the artists they are invested in on a more personal level, as they can see the artists that they are invested in.
The artist benefits from our platform by having users monetarily invested in their work, which motivates fans to promote and stream their content. Just as well, artists being able to see that they have people who believe in the success of their music makes them more likely to put out more music for their fans. Artistree encourages promotion from the fans, and gives them a chance to monetarily benefit from correctly finding "the next big thing", whereas currently their only benefit is their ability bragging rights with their friends.
The underlying concept that drives the app's participation is direct performance correlation, where a user's success is directly tied to the performance of the individual they are invested in. This concept currently only exists in entertainment industry in the form of fantasy sports, which has thrived utilizing similar concepts. We hope to bring direct performance correlation to the music industry, and allow both the artists and users to benefit.