How The Blockchain Is Changing The Music Business
The blockchain is allowing musicians to monetize their work and engage with fans more directly, according to a recent CNN news report by Edith Suarez. By embedding music in the blockchain, those involved in its creation can get paid immediately in cryptocurrency. Hence, the blockchain has the potential to change the way the music industry operates. The report highlights Grammy-winning artist Imogen Heap, one of the most visible musician advocates of the blockchain. How It Works. “Music is placed in the decentralized server, then each song is embedded with a piece of code, meaning that in....
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The panel discussion on Sept 18 in New York's prestigious Premier Studios in Times Square about the role of cryptocurrencies for innovative business models in the music industry was very illuminating for lots of different reasons. First of all the panelists and the moderator spoke extremely clearly and passionately about the drivers behind the adoption of these new technologies and the power that they give to artists and fans disintermediating the labels and middlemen in general. Second, with most of the audience composed of music industry and content distribution representatives of....
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....
Will Blockchain make inroads into the music industry? Well, it’s already in the global music, as well as the movie and publishing worlds. But there have been efforts to find ways to block access to materials and to halt free and open distribution of creative works over the internet. The use of blockchain technology to address these issues surfaced of late. New kids on the Blockchain. How can Blockchain change the industry’s revenue stream due to its ability to store, organise and share data based on a concept of transparency? Blockchain panelists at Shoreditch House’s library in London....
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....
Universal Music Group, often known as UMG, has been a top record label for a very long time – with a big impact on music both from a business and listening perspective. On Thursday, Universal added to their roster of artists with a bit of a twist. Most people are familiar with music group Gorillaz, […]