The Fair Music Platform (FMP)

The EU, NIM, IMC, and SKAP signed the agreement on 1st December.

With NIM’s white-labeled technical solution, the transparent, correct, and cost-efficient transfer of royalties can be done almost in real time. SKAP addresses the need to counter fake streams, fake artists, and outdated systems, allowing these to increase over the years. With IMC’s global network, the project also includes capacity building for music creators, and industry actors and advocacy work around the importance of fair music practice services in both the public and political spheres.FMP aims to reform the existing system where artists often receive insufficient payment. The platform utilizes NIM technology to verify songs’ origins, directly addressing issues related to inadequate payment, fake artists, and streams. FMP’s model ensures fair compensation for all individuals involved in music creation, promoting a sustainable and diverse industry.

The system is currently in beta testing with Swedish creators through SKAP. Additionally, FMP is the base for developing services for an African country to make local repertoire reach a global audience rather than global hits reaching a local audience. NIM has also launched a white-labeled service in the USA called Internet Music Fans for the company Fans to Artists in Delaware, emphasizing the direct interaction between fans and artists.

The Fair Music Platform and Decentralized Streaming represent significant strides towards a more equitable and transparent music industry. These initiatives indicate the potential for innovation and collaboration to create a music landscape where creators are fairly recognized and compensated, contributing to a more vibrant and diverse musical environment.

Press release SKAP (external link)

Announcement by the EU Committee (external link)