‘Democratizing’ music: Madison’s LÜM platform unveils new feature, supports 200k artists | Business News

The greatest benefit of a Creator Club, he said, is that the tool is available to musicians of all followings and fanbases. A creator could just be starting out, or established like NE-YO, multi-Grammy-award-winning hip-hop artist who is also LÜM’s global ambassador and a co-founder.

But the new feature is only one of several LÜM has created to support its burgeoning creatives, the majority of which the startup revealed in the last 18 months.

Earlier this year, LÜM launched a digital music marketplace called “The Exchange” that creators can use to buy and sell each others’ services, Fergus said. Those can include features on tracks, mixing, vocals, beats and music reviews.

And in 2020, the startup became the first platform allowing fans to support artists through virtual gifting technology called “Notes.” A fan can purchase Notes and donate them to an artist, who cash them out or deposit them into a bank account, Fergus said.

Up until this month, however, Notes could only go toward tracks. Now they include creators’ photo and video content, he said.

As Fergus looks to the future of LÜM, he said he only sees more growth, as well as more avenues for “democratizing” how creatives earn an income. The company is forecasting that some global launches will take place within the next six to eight months, he said.