Hang w/, a social media app that works in the competition-free world of video hosting, has just announced plans to allow advertising on the mobile app which in turn will create profit-sharing income for creators.
The app, whose early investors include musicians 50 Cent and Timbaland, plans on unveiling the revenue-sharing system on Nov. 3 of this year, with creators earning 25 percent of the income their broadcasts earn.
“I believe the real money is going to be earned not just by the household names, but by these kids who are living the life of an artist, and sharing it live,” said Timothy ‘Timbaland’ Mosley, Grammy Award-winning producer of Jay Z, Justin Timberlake and others. “Hang w/ is the future. I watch the kids broadcasting on this app and I can see who’s next.”
Hang w/ works by allowing fans to interact directly with creators via live video releases so they know it isn’t just some publicist pretending to be the star while sending out tweets or posting on Facebook. According to the site’s press release, spending for the Mobile Advertising Market hit $18 billion in 2014 and is predicted to reach $42 billion by 2017. Alright then.
“This has been our vision since day one,” said Andrew Maltin, CEO. “Hang w/ was built on the premise that content creators should be paid for their efforts. The creators and the content have continued to improve and now is the time to catapult Hang w/ to the next level by enabling those creators to generate income.”
Hey, if Fiddy and Timba like it, you can’t argue with it.