Reboot The Music Industry! Is Transparency And The Blockchain The Future?
Digital Music is in serious crisis and needs help! I am really happy to see more musicians talking about this topic. Technology has always been a scary issue for artists who are not so open for changes but I feel the time has come.
So how can we fix it? According to some, the answer lies with the technology du jour: blockchain.- Factmag
I just wonder why it takes so long to stop resisting?
Don’t get me wrong -- there is a HUGE DISPARITY between the royalty rates paid by tech companies and the royalty rates that music creators deserve. However, with technology growing faster than it ever has, it has become a requirement that we in turn do our part to adapt and stay educated. We just can’t afford to stay set in our old ways. The main issues with payments in the digital age are the laws that do not protect creators and a lack of transparency in connection with payments to creators.- Dina Lapolt
What should every musician know about the blockchain and how it could help ?
Music2020 explains in this video
In this video, we explain how this could benefit the music industry, creating a free-market ecosystem faster and more efficiently than we have ever had.
Midem 2016 /Discussion how Blockchain can change the Music Industry
How could content creators get compensated for their work?
Lets be clear, this business has a huge transparency problem how artists get paid . Now its the right time to give the transparency issue the attention it urgently needs.
Blockchain could completely transform the music industry. Revenues are dipping due to piracy and illegal use of content. Singers and composers are being short-changed by music companies and streaming services. Business models built upon patterns and practices dating back to early 20th century, decades before the invention of digital and online services, are fueling a lot of bad will. - Article in venturebeat.com
Blockchain music solutions will have to overcome a lot of challenges!
The Blockchain could find a way out of the problems the industries is facing and could bring together the entire community from amateurs to record selling stars.
Record labels, big and small, have typically failed to keep proper records for the artists they sign,” notes Hawn from Audio Network. “Contracts have always been excessively complicated. There were very few standards, and these were often flouted by labels, leaving data entry to interns and IT departments. This doesn’t go away when you move the infrastructure to the blockchain; if anything, it gets worse and will cost millions to fix. - Article in venturebeat.com
How blockchain can change the music business?
The blockchain got a lot of the attention in various industries and is finally showing promising signs to change the music industry as well to maybe fulfil the needs of all parties involved.
It will probably not be welcomed by those who profit from a lack of transparency or big tech companies that prefer to monopolize rather than share. Clashes are likely to ensue if the idea actually gains traction and real momentum. One of the advantages of a blockchain ledger is that it can establish a more direct relationship between creators and consumers. It could transform publishing, monetization and the relationship of artists with their communities of fans. - Source Techcrunch
A call for all artists! What are your thoughts?
Here are five data solutions I read in this article that would make the digital marketplace work better?!
- Unique global identifiers for each individual song: musical work (composition and lyrics) and master (sound recording)
- Databases that maintain accurate information about these identifiers
-Databases that are interoperable (i.e., that "talk to" other databases) to provide a complete ownership picture
-Databases that are machine-readable (i.e., that do not require time-intensive human authentication and cross-referencing)
-Industry standard information sets that are supported across databases
Without transparency everybody will lose! Fans, artists and services will lose. I work in this mad business over 40 years and just recently quit but I would be so sad if the industy could not innovate nor adapt. Everybody, agents, managers and musicians should come together to find new solutions!
With all but the top-earning musicians struggling to get paid, the promise of a new technology that could support artists at both ends of scale seems almost too good to be true. Josh Hall finds out how the blockchain could upend the industry. - Source factmag
Messages to remember
"Music is the weapon. Music is the thing of the future. Music is the weapon of the future." - Fela Anikulapo Kuti
Green Velvet 
Yes, blockchain technology can really revolutionise the music industry. More importantly though, the small and independent music creators will hugely benefit from this.
its about time that everybody will get a fairer deal through blockchain technology, from big stars to underground artists. I am amazed that there are so many artists who still don't know what this technology actually is. I wanted to simplify and summerize with this post
Yeah, unrecognised artists produce such great music. Many a times I come across an awesome song by a not so famous artist and all I can think is "How come he is not ultra famous by now!".
I hope in the next 2-3 years, there is an explosion of blockchain technology and everyone can reap its benefits!
Unfair !!! Lets embrace the Revolution
Do You really think it will not take longer than 2/3 years?
Lets hope!
Did you watch Fela Kuti's message ?? I bet you gonna like this documentary
I am not sure how long it will take but that is my hope. 2-3 years.
No, I haven't watched it. Need to check it out! :D
Had to add a little bit of music history :) Enjoy It !
Yes it is! I saw a panel discussion 20 years ago featuring Chuck D from Public Enemy. He spoke about how the internet would change music and how musicians could be more fairly compensated without having to rely on the tiny number of record companies. Youtube has done this for many artists... but the blockchain is going to take this to a whole new level.
Instant payment :) Exciting days ahead indeed but somehow it seems that musicians are always afraid of change. I do remember Chuck D speaking out !
I've a feeling it's all about music-sharing, and sharing future / current proceeds from the act of sharing. For example, just like any content, they're pretty much without any value if they're not marketed all that well. Music fans have always been sharing their favourite music. It's time to incentivise that, especially those with plenty of following or in a way, received plenty of hits.. blockchain has a way to do that. Even Steemit is already a halfway implementation..
Yes indeed Kevin ! Thank you for resteeming.
Watching the clip I was kind of surprised how little mainstream understands about blockchain technology. The music industry will need to overcome huge challanges because big companies are not willing to share . I am curious to see how fast it will advance and what solutions will be found.
Great post.
Thanks for sharing..
@mammasitta
resteem.
Always nice to see your face on my posts sweet Tina!
Welcome ^_^
Very nice ~.~ thank you for sharing
It will take some time .....but the industry has to adapt sooner than later
This is a really great discussion on how the blockchain could create an fundamental shift in how markets work. I think a decentralized marketplace ran solely on content and free association seems like the way the block chain can take us and I would be happy to see it do so.
Nice to meet you and happy for your comment. I truly believe it's the only way to go for the music business before the crisis is getting worse. Artists need to get paid fairly for their work. It's just a question of time but some say it might only take 2/3 years. I am reasearching this topic much more because I am very interested to see who got already involved.
Steemit is a good place to be :) for anybody. Isn't it ?
So you are mainly concentrated on getting something back, like be paid and have analytics and possibly managing rights? This is not about distributing your song?
Stay in decentralized control over your own property / songs and anything and get paid directly not through record companies etc ....opportunities are huuuuugeeeeee Open all links and read more detailed articles or some good comments above
Hi. I am a newbie here at Steemit. I am interested in the music industry and the blockchain technology. I learned so much from reading your post. I will FOLLOW. Have a nice day!