Feed is an upcoming application that has the potential to revolutionize the music industry! It allows users to share music with other users and get paid for that sharing. Not only that, musical artists can use the app to both protect and sell their music. Atypical Sounds were given the chance to conduct an interview with CEO and founder of Feed, Mitch Ahlenius. Mitch elaborates on how this is all possible.
In simple terms, what is Feed?
Feed is essentially a new way for people to create trust in relationships. It allows you to automate those relationships. So what we are trying to create is something that allows users, artists, and businesses to create N-dimensional relationships. You can create any collaboration that you can think of on the fly and assign all the rights, royalties, and payouts for however that relationship works. Our goal in music is to introduce new revenue streams that haven’t been there before, with the goal to create economies of abundance. To break down Feed to it’s simplest form, it’s a mechanism of trust.
What is Feed’s niche?
The initial area that we are targeting is music. The music industry is currently a very fragmented industry that is disconnected between the artists, the labels, the publishers, the users, and everyone who is holding rights. We provide solutions to problems such as “How are individual parties getting their money”, “Where is the transparency for how they are getting their money”, and “Are they really getting that much of it?” We are creating a way that each party can independently verify their own relationship in which they are getting paid while introducing new ways for them to receive that pay by intelligent advertising.
What inspired you to create Feed?
I love music and I love sharing music with friends. I started to find that I was curating a ton of underground music via my friends. My one friend would consistently play me songs that I had never heard before and those would become my new favorite songs. What I realized is that my friend had a real tangible value to the artist in distributing their music and creating a musical landscape that became relevant to me personally. My friend would do this for all my other friends as well. I have a fundamental belief that the best music of today isn’t being made because it’s not financially viable for people to do it if people are stuck listening to mainstream music and are unaware of all the other resources available to them. This very well may help to curate a more nascent underground music industry. There is a lot of good stuff out there and sometimes it’s about finding the right people who can help you to sort through it all.
How would a regular user utilize feed?
The initial way someone would use Feed would be for searching, downloading, streaming, and sharing music with friends. If they are sharing music with their friends and they like it and share it, that leads to maybe seven people downloading that song. The initial person would have created a ripple effect in what is a revenue chain. So Feed gives people ownership of their own data.
Music is a form of data that has real value to advertisers, because that is what they are using in the first place to reach out to you. Instead of getting an advertisement while you are listening to a stream, you can get that same advertisement in a time that is contextually aware, and an advertisement that is actually going to be relevant to you. The ad could be delivered the following week in the form of an Instagram, YouTube video or anything that the brand might want to do. Feed allows advertisers to monetize their products while not interrupting your experience.
We are able to do this because we give every user these software agents, which are digital A.I.’s that you can teach terms and conditions on what they learn, how they learn, and how they share it with brands and advertisers. Users are paid for the information that they are using. So the same way that someone is sharing music suggestions to create an economic ripple effect is the same way that the agents works to collect data from you on the things that you like, the plus being that you are cut into the revenue stream.
How does Feed act as system of checks and balances in terms of accountability?
A checks and balance is a great way to think about how it works. You basically set up all the terms and conditions for how your information is being shared because you have a data app that progressively and intelligently distributes your information. So the checks and balances part would be whether there was someone who is improperly using your information outside your terms and conditions, or wants to use that information for something that you have not implicitly given permission for. Feed gives users independent verification that your terms and conditions are continuously being adhered to, due to the fact that there are agents monitoring the ways that your data is being used. That is the trust mechanism that Feed is able to create.
How will Feed continue to evolve/what new features can we expect in the future?
We have barely scratched the surface on our website. At the moment, it stands as an informational website. We are doing things with certain technologies that haven’t been done before that will open a number of doors that haven’t been opened before. The ethos behind Feed is that it will always grow and new things will always be coming out. One specific feature that will be coming out will be for musical artists. They will be able to set all the revenue distributions, have the ability to remix licenses and derivative IP that you can just program and upload. An example would be if someone uploaded their song to the internet and someone else wants to remix that song, the original musical artist could set the percentage of royalties or a flat fee that they want. Feed automates that whole process so that the artist’s music is protected. You can expect a number of both touring and discovery features as well.