Logcast V2: The next chapter is here and its all about the superfan
From the very beginning, Logcast was built as an alternative to social media. Our founders designed Logcast to be a fun way for people to share real moments from life, in the moment, with likeminded people. Logcast was never designed to help creators amass huge “follower” networks or compete for likes, but rather offer a place where you could be real, get something off your mind, and build real connections.
Over time, we’ve closely listened to feedback from creators such as musicians and podcasters, who expressed a desire to connect directly with their most loyal fans. These superfans are the backbone of many artists’ careers, yet monetizing this smaller, dedicated group has been a challenge on major platforms like Instagram and Spotify. While these platforms are great at getting content in front of millions, they lack the tools for creators to directly earn from their most devoted supporters.
It takes more than 800,000 streams per month to make the equivalent of a $15/hour job, and the vast majority of artists on platforms like Spotify never get to that number.
At Logcast, we’re changing the game by helping creators monetize beyond just content and tap into a new revenue stream – the fan relationship.
Recognizing this gap, we’re excited to release Logcast V2 today with the first of our new creator monetization tools: Channel Subscriptions. Channel subscriptions offer creators the opportunity to monetize their dedicated fanbase, providing a direct channel for earning revenue from the superfans they’ve cultivated across various platforms. With Logcast subscriptions, creators can offer exclusive content, voice diaries, behind-the-scenes access, and soon, 1-on-1 paid experiences, building deeper and more meaningful relationships between artists and their super fans.
Logcast CEO, Leni Andronicos, firmly believes in the power of superfans. “We want Logcast to be a place where artists can connect directly with their superfans. We want to help music artists, podcasters, and creators monetize the relationships, not just the content, they have with their fans.”
Logcast V2 is centered on “strengthening the creator-fan relationship”, specifically through “1:1 superfan experiences,” she continued.
The development of Logcast to further serve super fans arrives alongside recent evidence of the impact that the superfan category of fan is having on the music business.
According to Luminate’s Year End report for 2023, which was released recently, there has been an increase in the proportion of superfans among US music enthusiasts, rising from 15% in the first half of last year to 18%.
These superfans demonstrate a considerable inclination to spend more on music, with a 68% higher spending per month compared to the average US music listener. Moreover, their spending on physical music is reported to be 76% higher each month.
Goldman Sachs, in its most recent Music In The Air report, suggested that if 20% of current paid streaming subscribers could be classified as ‘superfans’, and if these individuals were willing to double their spending on digital music annually compared to non-superfans, it could present an untapped annual revenue opportunity of $4.2 billion for the record industry.
Creators must set up their channels in the Logcast mobile app, but can share web links to their channel for fans to easily follow and subscribe to channels when linked from other platforms.
For press and media enquiries, please reach out to: crew@logcast.io or visit Logcast.io for more information.
