Pheed: the future of monetised social media ?

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Pheed, the new monetised social network, takes off. It combines aspects of Facebook, Youtube, Instagram, Twitter and SoundCloud.

Already believed to be the social media event of the year, the team at the head of this new network hope to attract at least 10 million users worldwide.

Pheed social networking is on the rise and many are beginning to wonder: will it prove to be competition for the two giants of social media, Facebook and Twitter ? In support of this thought, the Pheed app is currently downloaded more than Twitter or Facebook from the Apple iStore.

However, this statistic may appear inflated as many users have already Facebook and Twitter applications, and do not need to « redownload » it. Download figures of Pheed mean little therefore, but the buzz is growing, especially amongst youth who are seduced by the concept.

In terms of features it is similar to Facebook and Twitter as regards shared content, but posts are limited to 420 characters. Not only can you share links, images and videos but also audio files and streaming of live events. This is where Pheed shows true innovation, it combines all these features into one package. Pheed enables users to share all forms of digital content. It also allows for subscriptions to be paid and other monetary facilities to be used.

Once registered, you can choose between a free thread and a paying one. Amongst famous pheeders David Guetta chose the paid service, $4.99 per month for subscribers, of which half goes to Pheed. But, how many of David Guetta's 40 million FB fans will actually pay to view an event or subscribe to their content? However, Guetta has, thus far, only attracted 470 Pheed subscribers.

In order to watch live events, such as stand-up and concerts from artists, fees can run from anywhere from $1.99 to $34.99. This raises a question regarding the business model: why would users pay to see what they can get for free elsewhere? Obviously, the answer is, to get access to exclusive content – this is the challenge to the site, to provide that exclusivity; but videos of all kinds are plentiful on the net and users can usually find and share whatever they like on the Internet.

In order for Pheed to be successful they may find themselves relying on a « top dollar » sales model for subscriptions, with an emphasis on a few good artists to draw in their fan bases, who may be delighted to pay to be among « the happy few ».

Without wanting to detract from Facebook and Twitter's successes, possibly Pheed has what it will take to make a great success on the web. Free Download on the App Store : Pheed By Pheed Limited.

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