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Discussion Starter · #1 ·
I have no affiliation to this site, it is relatively new, I think. A place for both fans and musicians/bands to go. Bands can stream music and fans can listen to and donate to those bands. Below is a direct link, with a YouTube video, and a write-up I received via email:



Most of you know me as a musician and hopefully you love what I do. When I'm releasing a new album or a song I put it online and usually get some amazing responses from you, for which I am truly grateful - your love and appreciation of my music is really what keeps me going.

But then there's the other side of it, which is the music industry. For most artists it's a broken, dying industry which has almost nothing to offer anymore. I'm not just talking about Covid-19 and how in a matter of a few months it killed off live shows. Even before then, with music sales largely gone over the past two decades, and with music streaming platforms like Spotify and YouTube paying musicians ridiculous amounts like $0.003 dollars per play, very few artists can really survive, let alone flourish in this situation.

This is why MusoMind was created. With MusoMind, you can support my music on a monthly basis at any amount you'd choose - even one dollar! My entire catalog is available to you there, because the idea is not to lock up music again (we totally embrace the fact that music is freely available anytime, anywhere), and it's also not about raising charity. Rather it's about balancing and forming a new type of relationship between fans and artists - I bring in my music and make it completely available to you, and in exchange you bring in your support. It's a simple model that works for everyone and with it artists like me can commit to keep releasing great new music - and even do it more often.

I'd like to take this opportunity to invite you to support my music on my MusoMind profile and to take part in a real game change in the music world. On my end, I commit to keep releasing new music that you'll love, which will always be accessible to you.
 

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Interesting service and concept... I am wondering if there's a stipulation here about exclusivity? If one posts media on musomind, and can make money off of it there, is one allowed to still post elsewhere, whether it be for free or for profit?

I just went to the site and was struck by what I read in terms of what Musomind retains as a profit:

"We do not take any fees from you, [the fans] are charged on top. For instance, for a monthly support of $1.00, we will charge the fan $1.39."

40%... That's a lot!

While not being exclsively for artists, Patreon seems to take a far more reasonable comission. But, admitteldy, I haven't looked too deep into Patreon either.
 

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Discussion Starter · #3 ·
Interesting service and concept... I am wondering if there's a stipulation here about exclusivity? If one posts media on musomind, and can make money off of it there, is one allowed to still post elsewhere, whether it be for free or for profit? I just went to the site and was struck by what I read in terms of what Musomind retains as a profit: "We do not take any fees from you, [the fans] are charged on top. For instance, for a monthly support of $1.00, we will charge the fan $1.39." 40%... That's a lot! While not being exclsively for artists, Patreon seems to take a far more reasonable comission. But, admitteldy, I haven't looked too deep into Patreon either.
I'm uncertain of the cost of running such a site, and so... cannot comment on that. Any fee is voluntary, however. You could go on the site and listen to music and be a 'fan' only if you want to. I've never been on Patreon and couldn't compare the two services, or how this one is different. I merely thought it was a different avenue, particularly for bands (and for the fans that want to support them).
 

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Discussion Starter · #4 ·
Interesting service and concept... I am wondering if there's a stipulation here about exclusivity? If one posts media on musomind, and can make money off of it there, is one allowed to still post elsewhere, whether it be for free or for profit? 40%... That's a lot!
I did relay your message and ask that the founder (Yuval) respond. He's having issues in registering for this site, but here are his comments:

Hi Brian, thanks for letting me know.

I am trying to register to the Guitars Canada forum but there seems to be some technical problem there, I can't receive any verification emails from them and without confirming my email address I can't comment. So it would be great if you can reply with this:
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Hey guys, thanks for checking out MusoMind!

I'm Yuval, co-founder of the platform and I'd love to respond and clarify any questions about it..

I'll start from the latter concern about our fees breakdown. Over a half of our fees is actually not going to us, but rather to the payment processor, in this instance PayPal.

For a $1.00 to support an artist, we need to collect on top: $0.15 platform fee (15%), $0.02 VAT on the platform fee, and then $0.22 payment processing fee which goes to PayPal for instance, making a total of $0.39. The reason for the high transaction fee is the low amount transferred. Amounts under ~$5-6 are considered "micro-payments" and their transaction fees are higher. That's not really up to us, but the important thing to remember is that our platform fee percentage isn't really 28% ($0.39 out of $1.39 in this example) but in fact much less. The total fee is technically a high percentage, but only because of the low amount.

By the way, if you support music on other platforms, you'd pay similar fees, but there you're usually not aware of it because they are just being cut from the artist's share. We chose to be transparent about it so that fans know actually how much will the artist see from that in the end. But maybe that's a good point for us to add, so that people are aware of this breakdown already in our info pages. We are a very new platform and once we gain some mileage we may be able to negotiate for better rates with our payment processors.

Regarding exclusivity - we don't require any exclusivity at all! You can keep having your music posted wherever you'd like. In fact, your releases on MusoMind are embedded from other platforms like YouTube and SoundCloud. That said, if you invite your fans to listen to your music, you might want to choose where they are most likely to support you for it on a regular basis - that would be MusoMind.

Also, the biggest difference between us and crowdfunding platforms like Patreon, other than the fact that with us fans can choose any amount to support with, is that we don't ask the artists to produce any special benefits, extra rewards or exclusive content. In MusoMind the music is all that the fans need.

if there are other questions please feel free to contact us. We look forward to seeing you as fans and artists on MusoMind!

Yuval
 
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