Indie-focused streaming, social, merch, ticketing, and superfan platform OpenWav has officially launched. Photo Credit: Aman Chaturvedi
Streaming, merch, ticketing, and superfan platform OpenWav has officially set sail with an eye on “redefining the future of independent music.”
The self-described “next-generation music platform built for indie artists” formally debuted at A2IM Indie Week in New York. Established and led by 88 Rising co-founder Jaeson Ma – fellow OpenWav co-founder Eric Tu serves as COO – OpenWav launched as OP3N some years back.
Initially zeroing in on blockchain and Web3 technology (albeit while also emphasizing its AI capabilities), OP3N scored a $10 million raise in 2021 before drawing support in 2023 from Warner Music and others in a $28 million Series A.
Back to the newly minted OpenWav, Wyclef Jean has signed on as chief music officer, with former Sony Music and Amazon Music exec Madeline Nelson aboard as a senior advisor. And as the company sees things, its all-in-one offering will help artists more effectively monetize and leverage their fanbases.
“In early testing,” the business spelled out, “artists generated five figures per week on OpenWav, exceeding what the vast majority of artists earn in a year from streaming.”
Of course, time will tell whether the app (now live on the Play Store and the App Store) catches on at scale and keeps the payout trend going.
At present, there’s definitely a lot happening on OpenWav, one component of which, complete with posts, likes, and comments, essentially functions as a traditional social platform. (In a contrast to traditional social platforms, though, users also have a readily available option of filtering artist posts as well as events by location.)
Regarding merch, OpenWav includes a custom-product “design studio” with mobile support and AI-powered image generation. Per the appropriate tool’s description, the company handles manufacturing and shipping on its end; a hoodie priced at $45 would deliver about $13 in profit to the seller, according to the same source.
Streaming-wise, the “tracks” tab seemingly defaults to video playback and looks not unlike a TikTok page; links to third-party DSPs such as Spotify are stationed atop profiles.
On the core superfan front, artists can charge a once-off fee for access to certain tracks/posts if so inclined. And OpenWav features a standalone private-chat section, presumably with monetization opportunities of its own, to boot.
In a statement, Jaeson Ma touted his platform as a means of fueling sustainable careers against the backdrop of paltry streaming payments and overcrowded social services.
“The music industry is broken,” the East West Ventures founder summed up. “Most artists can’t make a living off streams, and social media rewards clout, not connection. OpenWav was built to change that. We’re giving artists the power to monetize their superfans directly, own their audience, and finally build a real, sustainable career doing what they love. No middlemen. No gatekeepers. Just artists in full control.”
Elsewhere in the increasingly crowded superfan realm, Hybe’s Weverse is continuing to record user growth. And despite backing OpenWav, Warner Music Group is slowly but surely preparing to drop a different app geared towards diehard followers.
Content shared from www.digitalmusicnews.com.