Fanbase

A "Microcast" Social Media Platform

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Company Information

Website:

https://www.fanbase.app/

Sector:

Mobile Software & Services

Location:

Atlanta, GA

As of last month, TikTok was valued at around $300 billion.

After being acquired for one billion dollars, Instagram has a current estimated value of more than $100 billion.

And Twitter has a market cap of more than thirty-two billion dollars.

Which social media platform will be the next multi-billion-dollar success story? It could be Fanbase.

Fanbase does things differently than the competition. It enables anyone to monetize their content — everything from photos to videos to long-form content — and grow their user followings without limitations or barriers.

Perhaps surprisingly, these features aren’t common in the social media space. Here’s why:

For platforms like Instagram and Facebook to make money, they need to suppress the reach and visibility of their users. Think about it…

If a user on Instagram has five million followers, brands might simply pay them — not Instagram — to advertise products. Instagram doesn’t like this setup, so it limits the reach and visibility the user has. This ensures brands purchase ad space with Instagram, not individual users.

Furthermore, existing popular social media platforms have been subject to recent controversy. For example, the Kardashian family voiced their frustrations with Instagram. And in August 2022, social media platform Triller was hit with lawsuits for failure to pay content creators fairly.

That’s what makes Fanbase a welcome change. This platform bridges the gap between traditional platforms and the monetization aspects of other subscription-based apps. Users can grow their follower base and find audiences while also offering paid content for those who want exclusive access.

Fanbase is considered a “microcast” social media platform. Here’s what that means:

Broadcast Media companies are large, subscription-based cable networks — Comcast, DirectTV, Time Warner Cable.

Narrowcast Media includes smaller subscription streaming apps like Netflix, Disney+, and Hulu.

Microcast Media, meanwhile, are brand subscription channels that offer niche content. These enable users to individually create programming centered on their interests, without paying for shows or channels they’re not interested in viewing.

For example, through Fanbase, if a user is interested in makeup, they can subscribe to content creators who focus solely on beauty products. If they’re into stocks, they can subscribe to finance-related creators.

Fanbase has made a habit of being ahead of the curve with respect to its competitors. For example, in March 2021, it launched monetized audio chat rooms. One month later, Clubhouse, a social audio app that once raised funds at a four-billion-dollar valuation, launched something similar.

And in April 2022, Fanbase announced its new business model. The next day, Instagram announced a similar option.

To make money, Fanbase takes a twenty-percent cut of all purchases. These include subscriptions — subscriptions cost $4.99 per month — and packs of the platform’s digital currency called “Love.” Love enables users to tip other users — i.e., show them some “love.”

Fanbase has more than 270,000 users, and subscription revenue is up 164% over the past year. Users engage with Fanbase an average of more than ninety minutes a day.

Team Background

Ramiro Canovas - Chief Technology Officer

In addition to his role with Fanbase, Ramiro has spent the past decade as Founder of ConsultR, a web and mobile development business.

Previously, he was a partner at MTM Agency, an Atlanta-based advertising company. Before that, he spent twelve years with Dell, a computer technology company, serving as a senior regional software specialist.

Ramiro earned a Bachelor’s degree in Computer and Information Sciences from Mercer University and a Master’s degree from Georgia State University.

Isaac Hayes III - Chief Executive Officer

As the son of late singer Isaac Hayes, Isaac Hayes, III has spent his life in the entertainment industry. In addition to his role with Fanbase, he is CEO of Isaac Hayes Enterprises, a company managing the Hayes’ family content.

Prior to starting Fanbase, he was owner of Chartcontrol, a music-related business. He also spent time as a voice-over artist for shows and movies.