Is the Music Business Ready to Adopt Blockchain?

Is the Music Business Ready to Adopt Blockchain?

By KHubbard | The Crypto New Jack | 29 Dec 2020


 

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(Photo by Paul Saulnier)

 

In a previous post, I wrote about the problems the music industry faces in a post Covid-19 world when it comes to the distribution of rights and royalties.  Now with the majority of live music shutdown and the industry reflecting on how to move forward in a profitable manner, there may be a possibility for more blockchain adoption.  Recently, industry veteran Troy Carter discussed how the industry must evolve in order to be more equitable:

 

 

Mr. Carter is someone who knows what he's talking about.  He was the manager of superstar artists like Lady Gaga and Eve at Los Angeles-based Atom Factory, working closely with the major labels.  In 2016, Carter joined Spotify full-time as the platform’s global head of Creator Services, with a direct line into SPOT boss, Daniel Ek. There, Carter helped pave the record industry’s streaming-led future, while bringing Spotify closer than ever to artists. Two years later, Carter left Spotify before launching his own distribution and services company, Q&A, alongside co-founders Suzy Ryoo and J.Erving.

 

Regardless of what happens next, the music industry is standing at a crossroads where those who choose to take the lead and innovate will be the victors of what comes next for how music will be enjoyed by its fans.  Although I may be biased, I still feel that one of the best ways to democratize the industry will be through blockchain and cryptocurrencies.

 

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KHubbard
KHubbard

Love contributing content to the Publish0x platform! You can find more about me at www.kamalrhubbard.com.


The Crypto New Jack
The Crypto New Jack

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