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The major record labels in the music industry have a long and justified reputation for taking the lion’s share of artist earnings and leaving the artist to figure out what happened to the money. With the advance in digital technology and streaming services, such as iTunes and Spotify, that allow direct uploading of music, many musicians have begun turning away from the major labels and signing with smaller independent ones, who promise artistic freedom and a return in earnings of up to 80-90{f1344c29b820c654b5aaa5437874d5f042d0da4eea61eff5d768e4c06c8810ab} back to the artists. But a lack of transparency around music sales means artists still might not know exactly how much their music is being played and who is and is not paying royalties. This holds true for artists with household names such as Jennifer Lopez and Sean “Diddy” Combs, whose careers were aided by the tireless efforts of David Guillod, an accomplished film and television producer as well as a senior-level executive at United Talent Agency.
Blockchain Essentials
If you have heard the term “blockchain,” it’s probably in relation to Bitcoin, the cryptocurrency payment network with a reputation for enabling anonymous transactions outside the control of a central authority. But the promise of blockchain extends beyond Bitcoin to many industries, including the music business. Blockchain is a distributed ledger that works across a peer-to-peer network to securely record transactions made in cryptocurrencies.
How Blockchain Helps Artists
Blockchain shows promise as a supply chain for songs. Artists know exactly who is playing their … Read More