Why Everyone is Talking About Beatstars New Update...Lemonaide,Fees, Stripe and more
Beatstars update
1. Marketplace plan is now Starter plan and is only $19.99/year vs $89 and now includes Publishing producer royalty collection and Seeds by Lemonaide. It still includes unlimited uploads of tracks, sound kits and services.
2. Pro Page is now called Professional and the price hasn’t changed. But now includes access to free ProKits from top members, 5% discount on all Promote campaigns, $50 in Promote credits, 3 monthly Beat ID credits and 250 credits for Lemonaide. We are adding much bigger perks to Pro this year. Can’t wait to show you guys.
3. We’ve removed Stripe and added a much more enhanced version of PayPal. We removed Stripe because they have not been able to handle the millions of collab sales. This blocks producers from being paid and buyers are being blocked from purchasing. The new PayPal integration we added includes payment methods like Venmo, Pay Later and on website Credit Card purchases that handles collab sale splits. We have plans to unveil an alternative global payment system this year that will unlock sales even more.
4. We’ve added a 12% buyer service fee only on the Marketplace to basically cover the millions of dollars in annual storage, delivery and discovery costs that the buyers have been enjoying for free for 15 years. Other marketplaces are charging the sellers up to 20% of transactions. This fee helps us keep the lights on and allows us to further expand on marketing, engineering and support. BeatStars unfortunately has reached a point financially where we will not be able to serve and operate to the best of our ability without making this change. We know how hard this change is for everyone including us but with the current economic climate it is a change we are forced to do in order for the company to survive and grow. We are currently working on new revenue generating offerings for producers that will help make this burden lighter for artists soon and will drive more sales.
5. Pro Page and Blaze players do not include a buyer service fee on transactions.
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