Estonian startups Fairmus and Fanvestory announce a merger
Estonian startups Fairmus, a streaming platform, and Fanvestory, a marketplace for song copyrights, have announced a merger aimed at enhancing fan experience in the music industry, ArcticStartup reports. The companies do not disclose further details of the deal.
- Founded in 2017, Fanvestory is a marketplace for music copyright. It allows fans to buy a piece of music and be entitled to its future royalties while supporting the careers of the artists they believe in. The company provides the artists with money up-front for their copyrighted works with a unique VIP communication channel.
- Fairmus is a global fair trade music streaming platform coupled with “listen and support local” philosophy. It provides fans with an easier way to find their favorite artists. Its revenue model is based on the money of paying users being shared only among the artists they actually listen to.
- The merger creates an opportunity to find the missing component for the growth of Fanvestory, as it allows for a real interface between the artist and the listener. The deal also enables Fairmus users to help artists create new music in the future.
- After the deal, Fanvestory users will receive an offer to use Fairmus during the month of April, while Fairmus users will have the opportunity to implement their music ideas in life.