Great to see you trying to put a rough potential value on NOTES.
However I think even 5% may be optimistic as you are talking about artist on labels and labels will not want to publish on Choon.
The best case scenario is that Choon becomes the defacto platform for self publishing artists. Any idea what that market is worth? That would be an interesting number to apply to your calculations.
Probably very little, since artists are terrible at getting paid in general 😂
And I agree, even 5% might be much without the bigger artists. But there are a lot of indie producers, and I really don't see why they would publish elsewhere. We should expect that most indie artists on for instance Soundcloud, will come over after some time.
Indie labels accounted for 6 billion, according to this article: https://www.billboard.com/articles/business/8006977/indie-record-labels-global-market-share-2016-win-report , so that might be somewhat of an indication. And Choon will allow smaller labels from next year.
But it actually sounds like a lot more than I had thought. But yeah, I guess that is the potential total market before the big guns are in, excluding the other features that will increase demand.
I agree about SoundCloud. I think there will be an exodus!