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Audius - Blockchain Streaming will Kill Spotify?!

There is a revolution on the horizon in the music industry and it revolves around decentralized Finance (DeFi) and BlockChain Technology. This trend began with the Etherium blockchain which brought us the NFT (Non Fungable Token), Smart Contracts, etc (See “Indie Artists Guide to NFT’s”). Now, the blockchain is evolving as more uses are being discovered that will redefine the music industry and how the billions in revenue is distributed.

Recent statistics indicated that because of the bloated disparity in how monies are distributed in the music industry, only 12% of the generated revenue is left to the artist who creates and records the music. If you use the sports industry as a comparison, Athletes get approx. 50% of the generated revenue from their industry. In addition most artists, especially indie artists, have little to no control over how their music is distributed and little to no transparency as to who is streaming their music or even how the funds are distributed on platforms like Spotify. Obviously if any industry is ripe for a revolution it is the music industry.

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Nominations end 01/15/22

VIDEO OF THE WEEK

Tom Craig

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