Three Startups Trying to Transform the Music Industry Using the Blockchain
Music was once scarce. Before the days of MP3 and P2P file sharing, you didn't have the ability to hear songs whenever you wished unless you bought them. Today one does not even need to download songs, as platforms such as VEVO and YouTube host many of the most popular songs of yesterday and today. The industry was faced with a definitive problem in an....
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Bittunes has a simple approach to how the blockchain can transform the music industry. While other music oriented startups in the field remain very focused on technology driven solutions, Bittunes wants to initially focus on the problem: the way the music industry is today. "We have tried from the beginning to keep things as simple as possible," Bittunes managing director Simon Edhouse tells CCN. "This has been for a number of reasons. Ultimately we believe the challenge for adoption of 'new to market' systems like this is not so much a technical one but rather, it is related to developing....
It's no secret that the music industry has been mired in controversy for raking in profits mostly for producers and record labels then leaving very little to artists themselves. This has been a prevailing issue, even as the rise in music streaming has offered more convenient and streamlined ways to listen to songs. Even Grammy-winning singer-songwriter Taylor Swift has spoken up about this issue when it comes to Apple's streaming services and has protested against Spotify's music streaming terms. Bitcoin enthusiasts say that the cryptocurrency might be able to solve all this. Bitcoin and....
Blockchain technology makes it difficult to cheat. Could music artists benefit from this feature? CoinTelegraph talked to a number of experts to learn how the music industry could adapt to the rules of the digital age. How Blockchain can help the music industry. Gabe Higgins, Founder of CryptoEdge Solutions and Tampa Bay Bitcoineers, says to CoinTelegraph: “Being a musician for almost two decades I've experienced the dramatic decline of the music industry in the digital age. When I discovered Bitcoin and learned about Blockchain technology, it immediately struck me as something which could....
A group of musicians, entrepreneurs and blockchain advocates is set to gather at a festival in Germany later this week with the aim of testing how the technology can change the music industry. The Music Tech Fest Berlin is set to be held from 27th to 30th May. During this time, the MTFLabs: Blockchain initiative will bring together participants including Grammy Award winner Imogen Heap, who has been advocating for blockchain applications in the music industry since last year. Also participating in the event are Vinay Gupta of Ethereum, music production platform PledgeMusic founder Benji....
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....