How We Are Evolving
Published at 3/1/2023
Hi everyone,
As you can tell, HITMKR has changed rapidly over the past 12 months. We continue to experiment and quickly grow along side our community of artists. The more we learn, the more we evolve. The one thing that we have learned is in order to make a big impact, we have to be willing to make big bets.
Our bet this year is that we can disrupt the music industry by building an end-to-end collaboration platform to help independent artists create great music faster and cheaper. In order for HITMKR to make this a reality, we need to make some drastic changes over the next few months.
We will be removing the current form of our beats and talents marketplace on March 31st, 2023. Producers will still have an opportunity to stay on the platform, but our business model will be different. We’ll explain in detail below.
What will change for Producers?
Producers now have free and unlimited access to our platform along with 3 potential streams of revenue:
Licensing
As a producer, you have the opportunity to determine if your beat is a free beat or a pro beat during upload. Pro beats are subjected to a one time licensing fee for artist who don’t have a paid subscription. We aim to set a fair price that will help you move a higher volume of your beats. We will start off by setting every Pro beats licensing price at $20, but this can change as demand fluctuates.
You will receive 70% of every Pro beat license sold through downloads. The rest of the 30% will cover payment processing and the cost to operate and promote the platform.
Royalty Earnings
For all songs that use your beats and is distributed directly on HITMKR, then as the producer, you will receive 7% of the streaming royalties. We automatically track and notify you every time your beat is used in a recording and distributed on our platform.
Subscription Payment Pool
We reserve 5% of our subscription revenue to pay producers on our platform. Your share of the subscription payment pool is determined by the percentage of times your beats are used for distributed songs. This includes both free and pro beats.
We will be introducing an invitation-only sign up process for producers (500 initial spots). This allows our team to vet producers' beats for quality, creativity, and overall sound. Providing a more exclusive experience will allow more producers on our platform to stand out.
If you believe in collaborating and want a new way to work with artists, you can join our waitlist here: https://producers.hitmkr.com/
What will change for Engineers?
With the removal of our marketplace, freelance engineering services will also no longer exist. Engineers who are already on HITMKR are welcome to continue to use our collaboration platform to share mixes, get feedback, and work with your clients. We are planning to hire 1-2 audio engineers to work with HITMKR full time.
Collaboration is not for everyone!
We understand this new direction towards collaboration is not for everyone and we thank you for being a part of our HITMKR journey thus far. We appreciate your inputs and engagement with us as we continue to learn how we can best achieve our mission to give the people the power to create, innovate, and share their talents with the world. We believe collaboration is key and are excited to work with producers who are committed to collaborating with artists to land placements and eventually earn big payouts through royalties.
Beta Launch
We will be launching the beta version of our end-to-end collaboration platform in the following months. During our Beta period, our INDIE subscription plan will be free for all artists.
Thank you,
Vu Ho
Founder | CEO of HITMKR