As artists look for ways to nab the biggest bucks for their work, streaming platform LÜM is gaining popularity with music makers and fans alike and has a star backer with industry knowledge.
Max Fergus, LÜM co-founder, said the allure of the platform lies in its ability to make connections between music lovers and creators, like singer and songwriter Ne-Yo, who is now partnering with the company.
"LÜM's a social music community for the next generation of artists and fans. Effectively, the LÜM platform combines music streaming and music discovery with a social media platform," Fergus told Cheddar.
While the year has been a struggle for many industries, last month LÜM closed a $3 million Series II funding round and gained a notable partner in Ne-Yo. A staunch advocate for artists, particularly independent artists, Ne-Yo told Cheddar the partnership is ideal as he navigates ways to help artists better reap the benefits of their work.
"Taking nothing away from the other streaming sites, but they're kind of designed to be in the favor of people that kind of have this big machine push behind them, that allows them to be in higher places on these playlists that are so important. That's not so much the case with an independent artist," Ne-Yo said.
The advantage for artists joining LÜM, according to Fergus, is that it not only helps with playlist placement and music discovery but when compared to other streaming platforms, LÜM's payouts are "8 times as much." While the platform doesn't pay music royalties, artists are able to generate income from direct fan gifting.
"Outside of being the future of music in the platform, about six months ago, LÜM became the first platform to allow fans to directly monetarily support artists on a music streaming platform through virtual gifting technology," Fergus said.
For Ne-Yo, fan engagement on LÜM was also a driving factor in his decision to get on board, he noted. Today's method of music consumption is vastly different than even 5 or 10 years ago; fans now rarely have opportunities to interact with artists at events like in-store meet and greets.
"I feel like LÜM is kind of trying to help bring back the importance of the relationship between the fan and the artist," he said.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
