Subtext has been named to Fast Company’s prestigious annual list of theWorld’s Most Innovative Companies for 2023. Our texting platform has earned the standing of No. 2 in the Music category for our 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 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 a 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 artists' work 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 Mr. Beast 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.
We’re grateful to the entire Subtext team whose hard work makes this all possible and are honored to be named amongst so many organizations we admire in both the music space and beyond.