Music Recording Industry
Today, the blockchain is starting to disrupt the $15 billion music
recording industry.
recording industry.
Like other industries, recording artists have to deal with a myriad
of intermediaries (like agents and distributors) to
get their music to the public.
The internet has made it easier for artists to disseminate their music.
But they still lose an estimated 86% of the money their music
makes to third parties.
(And that doesn’t include “pirating” of their songs.)
of intermediaries (like agents and distributors) to
get their music to the public.
The internet has made it easier for artists to disseminate their music.
But they still lose an estimated 86% of the money their music
makes to third parties.
(And that doesn’t include “pirating” of their songs.)
The blockchain will put artists back in control of their music.
For instance, U.K. singer-songwriter Imogen Heap has partnered
with a company called Ujo.
Ujo created a blockchain-based platform artists can use to
be paid directly for access to their content.
with a company called Ujo.
Ujo created a blockchain-based platform artists can use to
be paid directly for access to their content.
Last year, Imogen debuted her song “Tiny Human” on Ujo.
Not only can users buy the song...
they also can buy the track’s key, tempo, and stems with digital money.
Proceeds are then distributed to all involved in making the music,
including singers, producers, writers, and engineers.
Not only can users buy the song...
they also can buy the track’s key, tempo, and stems with digital money.
Proceeds are then distributed to all involved in making the music,
including singers, producers, writers, and engineers.
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