Co-founder Phoenix Stone explains his new company (loved by artists) in an exclusive interview — Flaunt Magazine
A rare figure in this industry (and someone I’ve personally known and worked with for the better part of a decade now), Phoenix is co-founder and partner of a technology company and outlines his goals simply as a way to “bridge the monetary gap between the eyes and the ears”.
He now simplifies the need for his technology with: “As a co-founder of Backstreet Boys Inc/Transcontinental Records (Phoenix also ran his own ‘JV’ label at Columbia Records, Capitol Records Virgin Records and Sony Japan…) saw a time when we sold 200 million records in about 5 years – I mean PHYSICAL records. Then I saw the evolution of streaming and how music was devalued with technologies like Napster and others.” “Now,” Phoenix explains, “the industry has figured out how to support and make money in a streaming world.”
“So it’s always been my passion to create technology that allows music rights holders to make more money. I started watching videos and it made no sense to me than a music video that plays the same sound recording that receives a full stream rate on Spotify and Apple Music only receives a fraction of that rate when connected to a video.
With this at the forefront of the team and the thinking of Phoenix, they created Remedy, a technological solution to this problem. Remedy adds value at all levels to creators in the music industry, their labels, songwriters, and everyone involved in the distribution of revenue from music.
“Whenever there is music-connected video content, our technology extracts the audio from the user’s streaming source (Spotify or Apple Music) while playing the visual. Therefore, while the eyes consume the video, the sound recording is played and paid for at the highest streaming rate…and the streams help chart positions.We give you a link you can post anywhere…from all social networks to embedding the video in an article or anywhere you can post a link.
To learn more about how Remedy works, visit: https://www.remedytech.io/#how-it-works