Bittunes Looks To Bitcoin To Transform Music Industry
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....
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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....
Music artists have the opportunity to develop tighter relations with their fans through the use of NFTs. As one of the oldest entertainment industries in existence, the music business has experienced many technological advances that enhanced widespread adoption. The digitalization of music meant that artists could reach any audience across the world, and digital distribution gifted people with unlimited access to music. With these advances in distribution came some drawbacks in music monetization. The way musicians make money in a digital format has reduced margins from media or video....
NexusLab, Zurich-based business platform, has gathered 10 teams to develop new applications of blockchain technologies in different industries; half of startups are from Nordics. Daniel Grassinger, managing director of Nexuslab and co-founder of Nexussquared, says: “Having identified and scouted more than 260 European early-stage blockchain startups and being able to select our pilot cohort out of some 50 qualified applicants is testament to the importance and broad future impact of blockchain technology. We’re very much looking forward to helping these promising startups further develop....
The past few days have been very productive for the Sandbox metaverse, music and the NFT industry. Some of the music industry’s top brass are making a beeline for the NFT market and the virtual sphere. Major music labels, including Universal Music Group, Sony Music, Warner Music Group, and Tencent, have all gone virtual. Since […]
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....