The music industry is one of the leading lucrative sectors in the world today. Billions of dollars exchange hands in terms copyright deals and even payments for streamlines. Rosy as the story seems, there are horror stories by artists who have gone for months on end without a single penny from their distributors and the streaming websites. The story is uglier for newbie artists who are unsigned and have to rely on their ingenuity to make it.
The music streaming websites are responsible for promoting content from the musicians to their audience and they pay the artists a fraction of the income that the streams generate. The bad news is that the artists have no control over the price of the streams and that they are at the mercy of the complete discretion by the companies like Soundcloud and Spotify. Unfortunately, some of the streaming sites offer downloadable content that can be accessed for free without any monetary compensation. This leads to a gross loss of income by the artists and an infringement of the copyright laws to unimaginable levels.
In response to the punishment, users of the blockchain technology have come up with ways of leveraging the technology to bring back control to the artists. Their main aim is to ensure that the intermediaries between the artists and their audience are completely eliminated. This way, cases of unpaid for content and stolen copyrights will be a thing of the past. It will give the artists a platform over which they will directly interact with their audience and get real-time payment for their content. The blockchain technology provides a distribution system that is underlined by community operated protocol that is decentralised. The community is made up of the stakeholders like musicians, listeners and tech developers who are in the industry not only for the money but for the aesthetic value of the content. This promises to lead a revolution in the music distribution industry and artists that will be back to profit. However, it will be a bad day for the ill motivated distributors and music pirate whose heads will be rolling in the aftermath of this transparent system.