“Music expresses that which cannot be put into words and that which cannot remain silent”
― Victor Hugo
To most people — obviously including Hugo himself — music is more than an aggregation of notes and rhythms. Music is joy, grief, and love. Music is a drink that melts the anger and awkwardness. Music is a time machine that brings back old memories. Music is far more than a file with .mp3 on it. Can you imagine a party without a DJ, Star Wars films without that trumpet melody, or a calm reading time without your favorite music on? No. It will cause a major calamity all around the world. Thanks to the hard-working engineers and scientists, however, we can access any kind of music at any time anywhere. Is everything fine then?
No. There are so many things hidden behind the beautiful facade of music — more precisely, the music industry.
Problem 1. Harsh Distribution Rates for Artists
Let’s take Spotify, the biggest digital music services, for an example. Spotify’s average payout to labels and publishers per stream is between $0.006 and $0.0084. After the labels take their share, the average payment to a signed artist is around $0.001128. More shockingly, this payment is delayed from 6 to 18 months average.
Problem 2. Unprotected Copyright
Last year, more than 35% of Internet users take advantage of unlicensed music content. The number does not even include mobile users. Lack of awareness of copyrights aside, the current system can never properly ensure the basic rights of the artists. Spotify was sued for unpaid $31M, and major companies such as Apple, Amazon, Pandora, and Google struggle to keep track of illegal copies, streaming, and downloads. It is no wonder the artists suffer from late-paid, if not unpaid, money.
Problem 3. Poor Environment for Listeners
At this moment, there is no transparent and secure environment where listeners can enjoy both legal and quality music. The vicious cycle of unprotected copyrights and tiny share for the artists only leads to the poorer listening environment.
The solution is simple — blockchain.
It will enhance copyrights, reasonable share for the artists, and quality music for the users. Keep up with Record Farm and find out how we turn the vicious cycle into a virtuous cycle.
RECORD Foundation runs the first reward-based music service platform, RecordFarm. A solution to the traditional music industry, it creates the healthy environment where creative works are valued, curations from users are rewarded, and transparency is ensured. The new ecosystem, driven by blockchain technology and RECORD token, simplifies the process and eliminates unnecessary intermediaries.
Join our token sale here — http://recordfoundation.org/
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