EXCLUSIVE: Will The Trackd Music App Be The Next Big Thing?

Trackd, established in 2015, is a music recording and sharing mobile app, which helps artists make money through fan subscriptions. With the potential to be a huge presence against companies like Spotify, Trackd are seeking further investment to expand their footprint into the US and further develop their technological platform with an Android version of the iOS app.

It is clear that many influential figures believe in the prospect of Trackd, as they recently raised over £700k from directors and private investors such as Dave Stewart, Grammy Award winning musician and producer. Notable early adopters of Trackd include Birmingham artist and producer, AClass, singer songwriter Otto  who recently signed a record deal with Dave Stewart and The Voice finalist, Bethzienna Williams. This has translated into popular fan approval for the app, as it is used in 160 countries around the world. However, Trackd wants to solidify its presence in the lucrative North American market, which is only achievable through greater investment into product development and marketing campaigns. 

So what exactly is different about Trackd compared to the established players in the market? Trackd’s new fan subscription model is hugely valuable here, as it allows fans, similarly to Patreon, to support artists directly by monetising their music. Fans have nor restrictions on how much they can donate to their favourite artists, whether that be through monthly subscriptions or one of ‘ChipIn’ payments, which completely eliminates any of the unnecessary red tape administration that may have acted as a barrier to support in the past. Furthermore, since 85% of the payments go directly to the artist, many musicians will now have the financial sustainability they need to grow their fan base and continue doing what they love.  Crucially, this lets fans have a more personal, intimate relationship with the artist. Knowing they could get more money, artists would be able to create exclusive content such as demos and remixes to satisfy both theirs and their fans’ desires. Trackd founder and CEO Russell Sheffield commented that ‘to make the equivalent revenue from Spotify as they could from the sale of one CD, artists would need a track to be streamed over 1200 times.’ It seems then that the subscription model that Trackd has developed is much more sustainable, especially for breakthrough and mid-ranking musicians who may not financially benefit from Spotify as an initial startup service.

Head of Artist Relations, Grant Tilbury, also said that ‘The music industry has been in flux for some time with the emergence of a culture of streaming that is unsustainable for artists in the long run. The pandemic has heightened the need for disruption in the market and Trackd is perfectly placed to lead the way to a new culture of artist and fan interaction. The revenue that artists will generate from our app will provide them with stronger financial footing, helping them when it comes to negotiating a record deal.’ Just like much of technology now, Trackd seems focused on providing financial and technological support for players of all backgrounds, not exclusive to just the big time artists with an already established platform of fans to market towards. With this in mind, it becomes clear that Trackd will be an extremely exciting prospect to keep a lookout for; new musicians catapult to stardom everyday, and Trackd could very well be the medium that makes it happen.