Blockchain Revolution: Music Industry Should Adapt to the Digital Age, Instead Of Complaining
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....
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Musicians are turning their attention to the power of blockchain as a way of generating more revenue in an industry that is experiencing a decline in shares. According to the British Phonographic Industry (BPI), 2015 saw music sales rise by 3.7% driven by the fact that streaming grew by a massive 82%; however, despite this, revenue increases only grew by a tiny 0.6%. Unsurprisingly, the music industry is keen to shake things up ensuring that musicians receive the money they are entitled to for music sales. What, though, could help to revolutionize the music industry? Enter blockchain.....
Cointelegraph spoke with NFT musicians and Web3 music industry natives to understand what came first: the music or the desire to make an NFT. Music-related use cases for Web3 technologies are piling up as the industry goes all in on adoption. From democratizing song rights royalties and blockchain licensing to legacy companies like Sony Entertainment filing patents for nonfungible token- (NFT)-authenticated music.While electronic dance music and pop seem to be picking up the most attention in terms of NFT music, they’re even making a difference in more traditional areas like opera.Just....
British singer and songwriter Imogen Heap has discussed how blockchain technology could help empower musicians. Speaking at TechCrunch Disrupt London yesterday, Heap, a self-confessed technologist and Grammy Award winner, told the audience that a revolution among artists was impending and that smart contracts on the blockchain could transform the ways in which people in the industry interact with data. She added: "We are at an amazing point in history for artists. A revolution is going to happen, and next year it's going to take over. It's the ability of artists to have the control and the....
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....
Ever consider what the future of the music industry looks like with the advent of blockchain technology? Cédric Cobban certainly has. Co-founder of PeerTracks and member of the BitShares Music Foundation, Cédric seems to have a clear vision when it comes to music's role in the emerging decentralized economy. I recently had the opportunity to speak with Cédric about the PeerTracks P2P music platform and his outlook on the future of music and what it means for both artists and fans. Also read: Bitshares Out to Make P2P Music Profitable. Listen, The Future Of Music. What is PeerTracks and why....