There’s a new kid on the social networking block. With signees like Miley Cyrus, Paris Hilton and David Guetta, Pheed is being coined the ‘new Twitter’. So what’s so new about sharing content?
With a quick and easy micro-blogging aesthetic and over-sharing-TMI-obsessed celebs adding to the over 350,000 unique visitors, Pheed seems to have gotten off on the right foot after only a few days. On the face of it Pheed doesn’t offer anything too different from other social networking sites – you sign up, follow others and they are able to follow you. You can post text, images, songs or videos for free, or for a fee, with space for comments. The ‘paid’ option seems to go against the grain in a social-networking world where just about everything has been free and gratis but then again, Facebook have lived to regret that haven’t they? Basically a mash-up of Twitter, Facebook, Instagram and Tumblr, Pheed is a more streamlined way to share and post, making exclusive content, new songs and sneak peek videos available from established artists while incentivising new artists to create and post quality content because it’s finally being paid for.
Pheed CEO, O.D. Kobo seemed to have a focus on quality over quantity, which, according to Forbes, encourages exclusivity through a payment structure, which can be done via monthly subscriptions to the desired user channel or pay-per-view events. It’s like Instagram, except you can charge for your best images (should you wish to). Doesn’t sound feasible in an unpaid sharing world? Miley Cyrus attracted 10,000 visitors to the site in less than a second. While you may not be a toned, teenie-bopping pop star, the idea is that if you like a singer/ actress or artist enough to pay for a concert or rent a DVD, you would probably pay a little for snippets of never-before seen footage or exclusive behind the scenes peeks.
If this business model works, this self-funded start-up may be the goose that laid the golden social-networking egg by actually attaching a money-making stream to their site and approaching their company like a business. Revolutionary huh? Pheed takes a share of the revenue to cover the costs of content storage, payment processing and a little bit for profit, the artist gets paid for sharing their craft with the world and the ‘Pheeders’ get the good stuff. In theory everybody wins.