NEW YORK, March 02, 2023 (GLOBE NEWSWIRE) -- Subtext has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023. The texting platform has earned the standing of No. 2 in the Music category for its work connecting musicians with their fans.
This year’s list highlights the businesses at the forefront of their respective industries, paving the way for the innovations of tomorrow. These companies are setting the standard with some of the greatest accomplishments of the modern world. In addition to the World’s 50 Most Innovative Companies, 540 organizations are recognized across 54 sectors and regions.
Subtext is a platform that directly connects artists with their biggest fans via SMS. As social media increasingly becomes a source of clutter, major record labels are realizing that less than 8% of an audience may see any given post from an artist. Meanwhile 98%+ are guaranteed to open a text message, within the first hour of receiving it. That's why artists like Miley Cyrus, Carly Rae Jepsen, Maggie Rogers, and Maren Morris are texting fans through the platform.
“As an engagement and monetization platform, Subtext has made it a priority to help artists take back ownership of the audiences they have worked so hard to build and rightfully monetize their following. With our platform, the idea of content culture has completely shifted. It’s not a matter of churning out content to stay relevant. It’s all about sharing personalized content and engaging in healthy and productive conversations with your biggest supporters,” said Mike Donoghue, co-founder and CEO of Subtext. “We are incredibly honored that our work with artists has been recognized by Fast Company. It’s testament to how Subtext is empowering musicians to create genuine connections with their fans."
In the past year, Subtext has emerged as a leader in the creator economy by achieving record-breaking growth (118% increase in new creator campaigns, 432% increase in subscribers, and 700%+ revenue growth), signing creator partnerships with Sony Music and Universal Music, and expanding its footprint to address the needs of a diverse range of artists, musicians, and more. By offering creators a high-touch platform to drive substantial engagement and revenue outside of social platforms, Subtext is pushing the industry forward and supporting the work of artists with followings of all sizes.
Fast Company’s editors and writers sought out the companies making the biggest strides around the globe. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides a firsthand look at the inspiring and innovative efforts of companies across all sectors of the economy.
“What a strange and thrilling year it has been to honor this year’s Most Innovative Companies. This year’s list compiles some of the most cutting-edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA. Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation,” said Fast Company editor-in-chief Brendan Vaughan.
Fast Company will host its third annual Most Innovative Companies Summit on April 19 and 20. The virtual summit celebrates the Most Innovative Companies in business, and provides an inside look at cutting-edge business trends and what it takes to innovate in 2023. Fast Company’s Most Innovative Companies issue (March/April 2023) is available online here, as well as in-app form via iTunes, and on newsstands beginning March 14. The hashtag is #FCMostInnovative.
ABOUT SUBTEXT
Subtext is an award-winning conversation platform that connects creators and subscribers through text messaging. By making direct connections with their fans, Subtext hosts have the ability to communicate one on one or at scale. Subtext customers include Sony Music, Conde Nast, USA Today Network, Buzzfeed, INFLCR, and IRONMAN. Subtext is the fourth product spinout from The Alpha Group, a successful incubator for new technology and media properties inside Advance. Advance’s portfolio of exceptional companies includes Condé Nast, American City Business Journals, Leaders Group, Stage Entertainment, Turnitin, 1010data, and POP. Advance is also among the largest shareholders in Charter Communications, Discovery, and Reddit. For more information, visit joinsubtext.com.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
Subtext Contact
Lauren Burge
Lauren@karbocom.com
