Los Angeles, Calif, 24th May 2022 Social audio platform Logcast has launched its first monetization tool for creators, giving them the ability to charge fans directly for access to exclusive content on the app.
The payment feature, called $UPERLOGS, allows Logcast creators to share paid-only audio content with their community, charging listeners directly to access exclusive clips like news and announcements, educational tutorials, early previews, and private conversations.
On Logcast, audio creators can monetize their content on their own terms, and the process is fast, easy and the payouts are instant. Creators simply record short-form audio clips (also known as “Logs), lock them behind a paywall (a price they can choose) and fans pay them directly to unlock the content using their credit or debit card.
“There are more than 50 million independent content creators fueling the creator economy, which is currently valued at more than $104 billion. But there is a problem: it’s almost impossible to earn money online as a creator. Creator platforms like Spotify, Instagram, and TikTok don’t have native monetization tools built in, and creators are given only a fraction of the advertising revenue generated by their content. It’s a broken system,” says Johanna Hoof, CPO at Logcast.
As a creator on TikTok you need 100,000 followers to generate just $200 per month. On Spotify, 90% of streaming royalties go to the top 1.4% creators on the platform. On Twitch, 1% of streamers earn more than half of all revenue. The podcast industry alone is expected to grow to $3billion in 2023, but only 1% of podcasters claim the majority of podcast ad revenue.
“There are more than 40 million audio creators in the world, and most of them don’t have access to a direct audience monetization tool right now,” Hoof added. “Our goal is to build tools that allow these 40 million people to make a living from their thoughts, ideas and experiences, direct from their community — without the need to give up a large share of their earnings to platforms.”
$UPERLOGS can help creators monetize on the entire creative journey, not only the final product. For example, music artists can “log” the making of their new album, earning money along the entire journey not just on the sale of the final record.
Other examples include journalists who have logged the investigative process behind a story, comedians who monetized early previews of their material, astrologists who share daily readings, and finance experts who monetize their advice and analysis.
Since the launch of its public beta in November, Logcast has attracted thousands of creators in over 50 countries, including activists, journalists, musicians, writers, gamers, fashion and beauty experts, comedians, sports experts and more.
Current investors in Logcast include San Francisco’s VC giant Goodwater Capital (early investors in Spotify, Facebook and Twitter), and global tech and entertainment executives Jonas Siljemark (former Vice President, Warner Music Nordics), Niklas Carlheim-Mueller (former Vice President, Ericsson), and Adam Jafer (founder of VOI Technology).
Learn more about Logcast by visiting their website or downloading the Logcast app in the App Store.