Blockchain-Powered Stem Raises 4.5 Million to Disrupt Music Industry
Stem a new startup tapping the power of blockchain technology and cryptocurrency is creating an application that aims to provide content creators a “fair share of earnings and information in a clear and timely manner.” The company has just raised $4.5 million USD in funding led by investment firms such as Upfront Ventures, and well-known music industry....
Related News
Songcoin. Centralization has long characterized the music industry, making it hard for budding artists to distribute their music to the public. The internet revolutionized the music industry, which helped many independent artists build fan bases without caving to the demands of corporate record labels. Songcoin developer David Prince believes the invention of cryptocurrency offers musicians yet another golden opportunity to disrupt the music industry by rewarding listeners for discovering and investing in quality music. CCN spoke with Prince about Songcoin and the role he wants it to play....
From letting fans co-own their favorite artist's music to providing fair earnings for musicians, projects are using blockchain to change the music industry. Music is a tricky business. The industry has its fair share of controversies, from monopolies to the limited earning potential for upcoming artists. While Web2 brought many positive changes, the industry still has a long way. Because of this, projects are trying to utilize blockchain technology to provide new solutions to the age-old music market.In the last ten years, the industry has changed drastically because of the internet and....
According to a recent report from the Financial Times, music streaming is set to overtake CD and vinyl as the largest generator of income for British record labels in 2017. The report states that as more people opt for subscriptions to streaming services such as Spotify and Apple Music, revenues in the sector were pushed to a five-year high last year. Total income generated by the U.K. music industry increased by 5 percent to £925 million ($11.6 million) in 2016, from £881 million ($11.1 million). Yet despite the popularity of the music industry, musicians often find themselves unfairly....
Our London correspondent Nick Ayton investigates the music, television and film industry where the "fat cats" won’t be quite so happy and content with life in the next few years. Huge profits. The global entertainment industry is worth over a staggering $500 bln globally, but nobody really knows for sure. Roughly broken down: TV & video $300 bln, music $45 bln,film $38 bln and the amount of television being watched, cinemas being visited and music listened to has done well in recent years. With the majority of the money being made ending up in the hands of a few at the top of....
Revelator, a cloud-based provider of sales and marketing intelligence for independent music businesses, has raised $2.5 million this week in its recent Series A funding round led by Exigent Capital. Revelator promises to efficiently track music rights and distribute royalties to rights owners. It issues copyright registrations as digital assets secured by multi-signature authentication and enforces multi-party terms and jurisdiction compliance rules. Exigent was joined by Digital Currency Group, which invests in Bitcoin and blockchain companies. “If you have data every day, why can’t we....