Leading independent record label, distributor, and publisher EMPIRE has formed an equity pool from their stock in Riff, expressly built for artist ownership on their roster, following their recent investment in burgeoning social platform Riff. Money Man, a multi-platinum Atlanta-based artist and entrepreneur, is kicking off the campaign with the release of his new album Blockchain, which was released last Friday. Thousands of admirers flocked to his “Blockchain Lounge” area on Riff to hear the album and connect with Money Man and EMPIRE CEO & Founder Ghazi through voice and video.
EMPIRE has set aside a portion of their present Riff equity interest to empower their artists in terms of ownership, transparency, and financial opportunities. Using the Riff App will earn equity for a select group of EMPIRE artists. Riff announced a new investment alongside EMPIRE last month from major music labels Quality Control Music and Top Dawg Entertainment.
“Music and tech innovation have always gone hand in hand for me and are a core part of EMPIRE’s DNA, which is why we invested in Riff,” said Ghazi, Founder & CEO of EMPIRE. “We pride ourselves on creating various avenues of revenue for our artists, and providing equity in our investments is a logical next step.”
Riff is a next-generation social platform that combines music and voice and video conversation. The software allows authors, fans, and friends to engage in rooms. For any creative, Riff opens up totally new business models and opportunities by allowing them to live-stream and engage with fans, showcase their abilities, hold listening parties, and release albums and products all within the app. Riff’s inventors have inspired Riff’s revolutionary technological platform and monetization model, which includes digital gifts, members-only rooms, brand sponsorships, mobile concerts, and paid events, and include prominent figures in music, sports, and fashion from across the world.