That is what Digital Music Wrote back in 2014. Since then this revenue shared has only increased leaving unsigned smaller artist with dust to chew on. This share is even larger than the share of the total worlds wealth that the 1% richest humans have (which for reference is 50%). This horrible distribution is caused by thousands of middlemen taking large revenue cuts form smaller artist feeding the ones that don’t need it.
Blockchain is here to change this. Blockchain offers the transparency needed to check for unfair and unequal distribution. Having these details be public allows listeners to protest unfair distribution something which is not possible in the current situation. Musicians stand on their own when it comes to defending their rights.
Another large trend in the music industry is the increase in revenue share of music streaming of the total music revenue. In the USA 62% of the total music industry revenue was captured through music streaming. On one end this influx of revenue through streaming is great. However, on the other, musician’s earnings on these streaming platforms are horrible! With artists generally earning about $0.005 per play on Spotify.
Again, Blockchain is here to save the day. If we just take the Musicoin platform as an example artists earn an average of 0,02$ per play (with the current market value of $MUSIC). This is a 200% increase! However, the true potential lies in a value increase of $MUSIC. The larger the value of the coin the larger the value of your earnings.
Volareo uses this platform to connect music lovers to musicians. Volareo isn’t here yet but you can join the discussion about it here or by signing up to our newsletter. You can sign up to Musicoin here and give us a small kickback.
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