A new online streaming platform backed by Simon Cowell has launched in the form of Lounges.tv, which promises to give content creators fairer and faster streaming revenues.
Aimed at addressing long-standing issues in the industry, the new platform - backed by Got Talent and X Factor creator Cowell – Lounges.tv claims to provide a fairer and faster way for content creators to monetise their content online, ensuring content creators get to keep 80% of all their streaming income, and are rapidly paid within 24 hours of their on-demand content or live stream.
Catering to a diverse range of creators, from musicians and comedians to fitness trainers, Lounges.tv offers them a space to share exclusive content with fans through live interactive and video-on-demand streaming. The platform also offers a free streaming space in North London for creators to produce content, with professional cameras, audio and a sound and stream engineer on hand.
The launch of Lounges.tv comes at a time where the content creator industry has never been bigger. With 3.7 million new videos uploaded to YouTube and 34 million TikToks uploaded every day, creators are finding it harder than ever to be seen.
Thousands of creators have already signed up to the ad-free platform, which, in addition to Cowell, is backed by iconic musician Prince’s former manager Kiran Sharma and BBC iPlayer founder Ben Lavender.
Hannah Woolmer, violinist, composer and creator on Lounges.tv, commented: “Lounges has allowed me to tap into a fanbase I would not otherwise have had access to. During the pandemic, when everything closed down, there was a huge shift to online concerts and it helped me see that streamed concerts are a new, legitimate way to enjoy art. It’s a movement – just like when radio or TV started.”
To date, fans have access to over 2,000 video on-demand pieces of content and have tuned into over 1,400 live streams. Viewers can engage with their favourite artists and creators during live streams, creating the ambiance of a live concert, through live chat, song requests, and a tipping revenue model for creators.
Ben Lavender, creator of BBC iPlayer and equity stakeholder of Lounges.tv, added: "Lounges.tv has the potential to revolutionise an industry that has long neglected the needs of the community and the aspiring individuals forging their careers within streaming. The platform offers creators a fresh opportunity to not only showcase their talents, but to be more quickly financially awarded. At a time where the cost-of-living crisis is casting a shadow over the creative industries, entities like Lounges.tv play a crucial role in shaping a brighter and more sustainable creative future."
Scott Green, Lounges.tv co-founder and CEO, also said: “There’s an enormous wealth of talent out there and we believe that whether you’ve got 100 or 100,000 followers, it shouldn’t impact your ability to earn revenue from your hard work and creativity. By eliminating the reliance on ads and introducing diverse fan funding options, our platform departs from the conventional ad-centric model that values creators solely based on ad views and follower count, rather than their genuine talent. We’ve created Lounges.tv to democratise content creation, ensuring creators of all sizes across all interests have a fair platform to share their content”