biddz and secupay lets fans share in the success of new songs
Customer
Cooperation
The platform biddz.io lets music fans purchase shares in new songs and receive a share of subsequent streaming revenues in return. secupay handles the complex payment flows with a large number of participants.
The challenge
Choose a song, buy virtual mini-shares and look forward to streaming revenues – that is the innovative business model of biddz.io. Music fans can purchase time-limited streaming rights to new music tracks via the online platform. One "biddz" corresponds to a 0.01% share of future revenues on streaming platforms such as Spotify, TikTok or Youtube. To make the offer attractive for fans and artists, firstly, fast payment options for biddz purchases are needed. Secondly, both artists and biddz holders need many small amounts to be correctly allocated and promptly paid out as one sum.
The solution and cooperation
As an expert in platform and marketplace payments, secupay ensures fast, secure and cost-effective processing of complex payment flows on biddz.io.
- When a new drop starts, i.e. a participation deal for a new song, a very large number of small shares are sold in a very short time. It is possible to participate for as little as 50 cents. Many drops are sold out after only a few hours. Secupay enables fans to pay quickly by credit card, Google Pay, Apple Pay or SEPA direct debit. biddz tokens are generated when shares are purchased. secupay, therefore, serves as an interface between fiat money and tokens.
- As soon as the song is up and running on the relevant streaming platforms, secupay organizes the payment of streaming proceeds to shareholders. biddz transfers the revenues per song and platform to secupay once a month via the secuconnect API and secupay automatically distributes and pays them out to fans.
“To grow quickly and offer young music talent a fair alternative compensation model, we deliberately forgo lavish commissions. This makes it all the more important for us to have a partner like secupay, which handles the entire payment transaction process for us cost-effectively and reliably." Michael Höweler, Co-Founder & Co-CEO, biddz GmbH
Website: biddz.io
About biddz GmbH
biddz was founded in 2021 by former Amazon executives Michael Höweler and Alexander Franck to offer aspiring musicians a chance at fair compensation and faster exposure. Music fans can listen to short versions of new, unreleased songs on the platform and receive a fraction of future streaming revenues. Artists decide for themselves how many biddz to sell and at what price. In addition to the financial advance from selling shares, up-and-coming musicians benefit from dedicated fans who eagerly promote "their" songs.
