How Blockchain Technology Can Improve the Music Industry
blockchain and music industry
Since the 1999 launch of Napster’s music-sharing platform, the music industry has been in near-constant turmoil, its timeline marked with dipping revenues, lack of transparency, piracy problems and feuds over the fair distribution of dividends.
Writing music was indeed literally writing music notes on a manuscript, but this practice is now long outdated with modern technological advancements which have made musical endeavors accessible to more people.
today, Thousands of songs are released daily with more and more musicians seeking to make it big in the pop scene. In this competitive environment, a trend has emerged in the music industry for survival and a greater chance at success
Although ,Anyone with talent can team up with another talent, sell their work to a major record label and get their fair share of the profit through our platform.
Providing a virtual ubiquitous studio, blockchain-dependent examples like K-Tune expands opportunities for collaboration outside the boundaries of existing networks within the industry and highlights the importance of seeking talent rather than name value.
it will likely not be welcomed by those who profit from a lack of transparency in the music industry, or big tech companies that prefer to monopolize rather than share. And clashes are likely to ensue if the idea actually gains traction and real momentum.
that overall, a transparent system would generate much more revenue and create more opportunities than it would actually destroy.
Music companies hate streaming services. Streaming services hate file-sharing services. And, most of all, artists and content creators hate virtually everyone else for making huge sums off their toil and feeding them the crumbs.
Why can blockchain be a good technology for music distribution?
At its core, the blockchain is a distributed ledger that can validate and register transactions without the need for a central authority.
Blockchain is a revolutionary technology that has great potential to solve many of the fundamental challenges
Information stored on the ledger is interrelated through cryptographic hashes, which make it virtually irreversible and tamper proof. In a nutshell, it means that parties can make peer-to-peer exchanges of data, money or anything else of value in any amount and in a secure manner.
One of the advantages of a blockchain ledger is that it can establish a more direct relationship between creators and consumers.
In the music industry, the blockchain could transform publishing, monetization and the relationship of artists with their communities of fans.
Artists will finally be able to own their creations and get their due for their efforts.
So, I want to speak about
- the problems of the music industry
- an after that, The effect of blockchain on music
- Finaly , I explain provides examples of companies already offering these technologies
- The final word
the problems of the music industry included :
- Monetization infrastructure
- Information stored
- How to distribute
- establish relationship between creators and consumers
- increased royalty payouts for content creators
- increased overall transparency
- automation of payments
- the removal of unwanted third-party intermediaries
What’s wrong with music industry?
Over the last twenty years, the music industry has had to find solutions to many problems including plummeting CD sales, increased online piracy and new ways of listening to music online.
But with global record sales decreasing year on year, the industry is still in need of saving.
Why music is bad for you?
Studies have shown that music can buoy your mood and fend off depression.
It can also improve blood flow in ways similar to statins, lower your levels of stress-related hormones like cortisol and ease pain.
Listening to music before an operation can even improve post-surgery outcomes!
listening to music may have a negative impact on creativity.
According to the researchers, the negative impact was found even in cases where the music had a positive impact on mood and was liked by the person listening to it.
Music is good – and bad – for the brain. It can be enjoyable but emotional too.
MUSIC triggers different functions of the brain, which helps explain why listening to a song you like might be enjoyable but a favourite song may plunge you into nostalgia, scientists said recently.
Music seems to “selectively activate” neurochemical systems and brain structures associated with positive mood, emotion regulation, attention and memory in ways that promote beneficial changes, says Kim Innes, a professor of epidemiology at West Virginia University’s School of Public Health.
do you know Some religions believe music is bad for you?
Music is an art form, and cultural activity, whose medium is sound.
General definitions of music include common elements such as :
- pitch (which governs melody and harmony)
- rhythm (and its associated concepts tempo meter and articulation)
- dynamics (loudness and softness)
- and the sonic qualities of timbre and texture (which are sometimes termed the “color” of a musical sound).
The kingsThe King of Music
- Jimi Marshhendrixall Hendrix
- Jon Bon Jovi
- John Lennon
- Frank Sinatra
- Tenor Luciano Pavarotti
- Bob Marley (Robert Nesta Marley)
- Elton John (Sir Elton Hercules John)
- Mick Jagger (Sir Michael Philip Jagger)
- Sting (Gordon Matthew Thomas Sumner)
- Billy Fury (Ronald Wycherley)
- Engelbert Humperdinck (Arnold George Dorsey)
- Elvis Aaron Presley
- Michael Joseph Jackson
- Freddie Mercury (Farrokh Bulsara)
Problems in music industry
People don’t know what to listen to. You can’t trust the radio
He who tells us what to listen to will have all the power in the future.
- Money Trumps Art
People no longer discuss music, but their financial stability. If someone sells a lot of tickets or a lot of tracks you can’t say a negative thing about them.
Critical thinking is crucial to a healthy arts scene. Something can be successful and suck. Conversely, it can be obscure and great.
If your first question is how do I make money, you shouldn’t be in music.
- Everybody Thinks They’re A Star
We’re only interested in the exceptional. In the old days, with a limited universe, mediocre, with exposure and promotion, could make it. Today, you’ve got to be positively A-team. Or, the beneficiary of A-team marketing and promotion. But if your music doesn’t sell itself, your career will be very brief.
- You Can’t Get A Good Ticket At A Fair Price
Therefore people don’t even try to buy. For all the bitching from people who overpay or sit in the cheap seats there are legions who’ve opted out of live music.
- Con Artists
You know, the websites that give you advice and hope, and charge you for the privilege. Not everybody can work in the music business, not everybody can be a star. If you’re paying someone to host your stuff, to get you gigs, you’re either not good or delusional or both
- Old Media
From radio to newspapers to movies it’s old world thinking, a circle jerk trying to perpetuate something that’s dead. The sooner old media dies, the clearer the landscape will be.
Radio is not coming back. Newspapers will not survive in print, and most won’t survive at all. And while we’re at it, CDs are history and physical books are goners.
The fact that something still exists does not mean it isn’t over.
The modern music world is not like Congress, there’s no consensus amongst an elite. Instead modernity is an endless rushing river controlled by nobody.
If you’re doubling down on old media, you’re probably investing in the PC business and feature phones.
- Working The Numbers
Whether it be authors scamming Amazon reviews or record companies garnering fake YouTube plays you can no longer trust statistics and reviews. Everybody’s a scumbag.
Trying to game the system. And it’ll only go away when e-mail spam is eradicated.
8.Lack Of Knowledge
No one knows history.
Before you sit down to write your song, listen to the Beatles catalog, learn about a bridge, learn about harmony. You can’t break every rule and be successful.
If you’re familiar with the basic building blocks, you’ve got a chance of making it.
It’s declining. Everything’s free on social anyway. If you don’t want people to trade your music you’re living in the last century.
maybe,before you published your art,one person copied that!
- the effect of the sound quality
The sound quality of a reproduction or recording depends on a number of factors, including the equipment used to make it, processing and mastering done to the recording, the equipment used to reproduce it, as well as the listening environment used to reproduce it.
The importance of hiring quality audio equipment cannot be overstated because good sound really adds a great atmosphere to any setting.
The longer the speakers are used, the more heat is generated and the quality of the sound starts to decline.
Google yourself If you’ve got no online presence, you will have no success.
The first thing someone does when they’re interested is read your Wikipedia page. And they can tell if you wrote it yourself, they laugh behind your back.
If someone can’t research your history and find out almost everything about you, you’re doing it wrong. Don’t think campaign, think land mine. People will find you when they’re good and ready.
- Low Funds
According to a recent Citigroup report, the music industry generated a record $43 billion in 2017, but recording artists saw just 12% of that revenue, or $5.1 billion, and the “bulk” of their revenues came from touring.
Consider, for example, U2, which made $54.4 million and was the highest-paid musical act of the year in 2017, according to Billboard’s annual Money Makers report.
Of their total earnings, about 95%, or $52 million, came from touring, while less than 4% came from streaming and album sales.
Garth Brooks (who came in second on the list), owed about 89% of his earnings to touring, while Metallica (ranked third) raked in 71% of their earnings in the same way.
“In the last several years, streaming revenue has increased, but it is still not enough on its own to financially support a career with longevity,” said Erin M. Jacobson, a music-industry lawyer based in Beverly Hills, whose work involves negotiating record contracts on behalf of artists ranging from up-and-coming artists to Grammy-winning musicians.
- Royalty Collection Company
This guide breaks down the complexities of music royalties and music copyrights in the music business. Music Royalties. What Are Music ?
Music royalties are payments that go to recording artists, songwriters, composers, publishers, and other copyright holders for the right to use their intellectual property. U.S. copyright laws give artists these exclusive rights to their work.
The music industry relies on these royalties as a primary form of payment to musicians. Contracts then define royalty agreements between the creator and the distributor.
Copyright law grants six exclusive rights to control the use and distribution of copyrighted work. The copyright owner has exclusive rights to:
Reproduce and make copies of the original work. For example, a digital music download and physical formats like a CD or vinyl.
Prepare derivative works based on the original work. For example, a new original product that includes aspects of an existing song. This consists of a cover song, remix, or any altered version of an existing song.
Distribute copyrighted work to the public. For example, release the song through a music distributor, digital download, or record label.
Perform copyrighted work publicly. For example, live concerts or live performances in a public setting.
Play copyrighted work publicly. For example, through music streaming, satellite radio, music videos, FM radio, a TV show, etc.
Display the copyrighted work publicly. A public display means to show a visual copy of the work to others. For example, sheet music or photos from performance pieces.
The copyright owner can transfer these exclusive rights or parts. The two methods of transfer are licensing and assignment. Transfers must be in writing and signed by the copyright owner or an authorized agent.
And other problems.
Blockchain in simple word
Blockchain can be defined as an open ledger of information that is distributed and verified across a peer-to-peer network.
In other words, it is a computerised public ledger that can apply to almost anything you may usually save to a spreadsheet or database.
Each transaction or block is transmitted to all of the participants in the network and must be verified by each participant node (or computer hosting the blockchain) solving a complex mathematical problem.
This process can involve thousands of computers. Once the block is verified, it is added to the ledger or chain. Different types of data can be logged to a blockchain, from transaction information to photos, videos and design documents.
It is un-hackable, immutable, auditable, transparent.
It reduces the number of intermediaries. In the IP space, blockchain can help perform a number of activities: Evidence of the rights, record keeping, register and clear rights, control and track the distribution/trade of rights, establish IP contracts.
Blockchain and music industry
Blockchain is solving some of the major problems currently plaguing the music industry.
With blockchain, musicians are able to receive equitable royalty payments, venues are able to curb counterfeit tickets and record companies can easily trace music streams and instantly pay all artists who contributed to songs or albums.
One technology has the promising potential to ease the industry’s woes:
blockchain. Artists like Lupe Fiasco, Gramatik and Pitbull have advocated for decentralized technologies in music, and proponents champion blockchain’s distributed ledger technology as a way to efficiently release music, streamline royalty payments, eliminate expensive middlemen and establish a point of origin for music creators. Which is to say blockchain can re-establish the way music is produced, bought, sold, listened to and managed in a fair and transparent way.
Music application: In addition to organizing open-source information by issuing unique identifiers for each piece of information, also works with artists to ensure they are paid fairly.
The company issues smart contracts with musicians that directly state their royalty stipulations without the hassle of confusing third parties or contingencies.
The widespread implementation of blockchain technology within the music industry equates to (a) increased royalty payouts for content creators; (b) increased overall transparency; (c) automation of payments; and (d) the removal of unwanted third-party intermediaries.
Blockchain technology can also revolutionize the monetization of music.
The infrastructure is based on smart contracts, programs that can be run on the blockchain along with the payment transactions.
Blockchain-based cryptocurrencies such as Bitcoin and Ethereum support micropayments, which is effectively impossible with classic payment mediums due to transfer costs. This can support a new way of offering on-demand music services.
Users can select the record of their choice and immediately reward the stakeholders with cryptocurrency upon playing it.
And, finally, one of the advantages of a blockchain ledger is that it can establish a more direct relationship between creators and consumers.
Composers and artists will no longer be required to go through purchasing platforms and financial brokers — who usually take a hefty cut of the revenue — and can get directly compensated every time their songs are played.
How can blockchain technology be used to enable rights management and support the Music
- Monetizing Rights Associated with Musical Works: One complete, uniform and centralized database
tied to an immutable ledger also simplifies licensing and can allow for royalty disbursements to be
- Music providers: transparency and provides a simplified means for licensees to contact all rights holders
- Smart contracts: Smart contracts can also be used to trigger automatic royalty payments to each rightsholder
- licensed or play: mechanical licenses. A centralized database tied to an immutable ledger, coupled with the use of smart contracts, would complete the centralization of the music licensing scheme – including, without limitation, for synchronization licenses in audio-visual content.
- practical applications: The practical applications are infinite and some platforms and artists have relied on this technology to deliver music directly to fans on a pay-per-play basis and to incentivize listeners to share music in exchange for a fraction of a royalty payment or incentives.
- Copyright Protection: original works of authorship in a tangible medium of expression. The exclusive rights allow the copyright owner to reproduce, distribute and, in relation to music, perform the works. Copyright infringement through piracy has plagued the music industry since the digitization of music. the immutability of a blockchain and the use of smart contracts provide mechanisms to record copyright ownership, authenticate ownership to police
- Rights Identification and Maintenance: Blockchain technology and the use of smart contracts have
an array of applications in the context of rights management. They can capture the complete copyright
ownership history associated with a given song, establish and maintain chain of title and seamlessly
- ticketing issues : technological measures to prevent computer bots from purchasing tickets and sales from unverified sellers on secondary markets. While bots and similar methodologies have been undermined to an extent, ticket scalping, counterfeit tickets and the secondary ticket market as a whole continues at an significant cost to the industry. The combined use of blockchain and token technology and smart contracts can address
they can be managed in a decentralized, distributed database. That database can identify the initial purchaser and manage the resale and venue admission process.
If a token is programmed for resale, a smart contract can
be used to add “programmable logic” to the ticket, which could limit the price of resale or require that some or all of the “premium” is transferred to the artist.
Due to cryptography, the token representing a ticket can be
- Music distribution: Blockchain technology has the potential to disrupt the way music is distributed by
enabling artists to offer their music and other media directly to fans thereby creating more personal and robust artist-fan relationships.
- Data Privacy: Data Privacy – Depending on how the blockchain is structured, the identity of the parties to a transaction are not always disclosed. Anonymity and pseudonymity are hallmarks of the technology, which can act
- Patents: Patents are distributed across countries by nature. There is no single registry for patents, but many dispersed around the world. Hence, the idea of a distributed network provides a smart solution to patent offices. But the real benefit of blockchain is the presence of smart contracts.
The illiquidity and inefficiency of the patent ecosystem specifically deter players like SMEs and universities, to protect (and finance) their ideas. Blockchain technologies have the potential to bring greater simplicity, transparency, less intermediaries and ultimately foster innovation among entities that had a difficult access to the patent world.
the blockchain and confirmed, any unauthorized modifications or duplicative information will be rejected.
Any modifications or rights transfers that are confirmed by administrators of rights on the blockchain are instant and public
database, simplify standards, establish chain of title, and track and manage the exploitation of musical works
and payment of royalties.these are very important in music industry so blockchain helps music industry.
Blockchain is so much more than that one application; blockchain has the potential to revolutionize records management in all manner of industries across the world, impacting upon so many areas from supply chain management and provenance issues for trade, food security, intellectual property and so much more.
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