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Former 12Tone, Def Jam Records, and SB Project A&R Executive Eli Frank Named President
LOS ANGELES, Oct. 18, 2021 /PRNewswire/ -- ZASH Global Media and Lomotif announced today the launch of LoMo Records, a Los Angeles based independent immersive record label. Continuing its mission to empower independent artists and creators, ZASH's LoMo Records will partner with artists and creators to provide expert label services and global distribution to breaking new talent from their platform Lomotif as well as working with other music labels. In addition, LoMo Records will leverage ZASH's entire ecosystem including dramatically expanding the artists global reach through their proprietary social media accelerator platform under AdRizer.
LoMo Records will be headed by Eli Frank, an entertainment executive who helped grow and scale 12Tone Music from inception to a 25 person company with billions of cumulative streams and multiple Grammy's in four years. He helped sign and develop a roster of artists that include Anderson.Paak, Illenium, Joji, 88rising and others. He previously worked at Def Jam in its artist research department, helping to find and develop artists before they achieved mainstream success, and for artist management groups Scooter Braun Projects and Tha Lights Global.
LoMo Records will bridge the gap between the traditional music standards and the emerging creator economy. For the first time ever, a UGC platform such as TikTok or Lomotif has launched its own internal record label. LoMo Records will give artists premiere access to its tens of millions of monthly users on the Lomotif platform and provide artists with cutting edge, patented Lomotif remixing tools.
Artists will gain global exposure throughout the entire ZASH ecosystem, leveraging its digital footprint around the world, including many untapped markets. LoMo Records will offer artists multiple unique revenue streams that are not currently available to artists. As ZASH continues its migration towards the metaverse, they will help integrate artists through use of blockchain technology for full transparency, digital DNA, and more.
ZASH beta tested its Lomotif promotional model with artists in early September. Within a day of promoting SVNF8's song Never Ever on Lomotif, the song reached 3.4 million views in platform, and SVNF8's album charted as the #3 dance music album on iTunes in Taiwan. SVNF8 then performed at ZASH's inaugural Dandelion Music Festival in Syracuse, which drew thousands of attendees and was streamed worldwide exclusively on Lomotif. The ZASH team plans to continue their relationship with SVNF8 by bringing him on tour with Dandelion Music Festival as it travels across the country in 2022.
"We want all artists to have freedom over their own content and revenue streams, and to be supported by ZASH's entire ecosystem," said Ted Farnsworth, the chairman of ZASH. "Lomotif has a growing user base of millions around the world, and these artists will be able to collaborate with Lomotif's creators and fans around the world. As I've always said, it's all about content, content, content. And we all know content is king."
"To build a record label at this time of inflection in the entire industry provides tremendous opportunity, especially with the backing and integration of Lomotif and all of ZASH," said Frank. "Many of the big labels have entrenched brands, and they continue to do what made them successful- but the industry is evolving quickly past the old models. It's always about the music, but it's not just about the music. Fans want to engage with their favorite artists in new and immersive ways, and artists can leverage social media and create fanbases organically, with an avenue of continued ownership and revenue streams of their content. This is just the beginning."
Paul Yang, founder of the Lomotif short form video platform, stated, "Our focus has always been on the creators. The creator economy will continue to become the center of our ecosystem and the future of the global economy. To now have another outlet to help promote and blossom these creators is exciting, it's ambitious- it's us. It is the essential aspect of who we are as a company."
The launch of LoMo Records comes on the heels of ZASH's highly successful Dandelion Music Festival, which was held on October 2nd. The concert drew several thousand to downtown Syracuse, NY, with millions of other viewers watching around the world through the livestream of the concert hosted exclusively on Lomotif, the short form video platform and one of the top ten competitors to TikTok.
Lomotif is a leading video-sharing social networking platform that is democratizing video creation. Since the company was co-founded by video enthusiast Paul Yang in 2014, Lomotif has been granted three technology patents uniquely focused on empowering creators to share and watch short form videos with ease through remix and collaboration. Yang's bold vision is to build the world's largest video vocabulary to accelerate the world's transition to video-first expression. Lomotif is one of the fastest growing video-sharing social networking platforms in its category over the last three years. There are currently more than 225 million installations of the Lomotif app globally in more than 200 countries and in more than 300 languages. Over 300 million videos are watched on the platform per month and more than 10 billion atomic clips (User Generated Content (UGC)) have been used to create more than 740 million videos on the platform since its launch. In the past year, Lomotif has grown worldwide as a grassroots social community with dedicated users spanning from Asia to South America to the U.S.
In March of 2021, Lomotif partnered with LiveXLive to stream "Music Lives" music festival, drawing 37 million streamers worldwide. Lomotif is one of five partners selected by Snapchat for a bi-directional integration for posting stories between the two platforms. Lomotif also recently announced a global agreement with Universal Music Group (UMG) that allows Lomotif's users to creatively tap into UMG's catalog of music. With the agreement, UMG becomes the first major music company to globally license Lomotif, empowering the company's community of users to create clips using songs from UMG's music library, consisting of some of today's biggest hits as well as some of the top songs of all time. For additional information about Lomotif Private Limited, please visit Lomotif's website at www.lomotif.com.
Lomotif is majority-owned and controlled by ZVV Media Partners, LLC, a joint venture of ZASH Global Media and Entertainment Corporation led by co-founders Ted Farnsworth, Jaeson Ma and Vincent Butta, and Vinco Ventures, Inc (NASDAQ: BBIG).
About ZASH Global Media and Entertainment Corporation
ZASH, the innovative entertainment industry leader is an evolving network of synergistic companies working together to disrupt the media and entertainment industry. Beyond Lomotif and LoMo Records, ZASH's portfolio of companies includes Magnifi U, a digital learning and development platform, and ZASH studios, its TV/film production arm, among others. ZASH recently announced its binding letter of intent to acquire AdRizer, a leading publisher and proprietary analytics solution with a focus on revenue attribution and targeted ad placement.
In addition to the agreement with Lomotif, ZASH has made a number of moves in the media and entertainment industry. In one of its largest deals earlier this year, ZASH announced plans to merge with Vinco Ventures, Inc. (NASDAQ: BBIG) creating exciting acceleration and growth in live-streaming content, video-sharing, distribution and production within its own ecosystem. For additional information about ZASH Global Media and Entertainment Corporation, please visit ZASH's website at www.zash.global.
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