The music industry’s earnings have surged, yet many artists struggle financially as touring becomes increasingly expensive and less profitable. The traditional model of records promoting tours has flipped, leading to a need for artists to diversify income through memberships, direct sales, and data ownership, rather than relying solely on live performances.
The content discusses the evolution of recorded music from being a valued product to merely serving as promotional material. It emphasizes the need for artists to innovate their offerings, transforming recordings into multiple revenue-generating forms. By leveraging direct-to-fan sales, unique editions, and access models, artists can rebuild meaningful connections and financial sustainability.
The article discusses the limitations of Spotify’s payout model for indie musicians, emphasizing complexity and unfairness. In contrast, decentralized platforms like Audius leverage blockchain technology for instant, transparent payments through smart contracts. This shift empowers artists by enhancing control over their music and income, potentially transforming the landscape of music streaming.
This guide empowers independent musicians to leverage blockchain-based platforms for launching their music. Unlike traditional streaming services, these decentralized platforms allow for better artist compensation, direct fan engagement, and ownership of creative content. By using platforms like Audius, OPUS, Tamago, and BitSong, artists can reclaim control and innovate within the music industry.
This guide instructs indie musicians on creating their own music NFT marketplace, emphasizing the benefits of direct fan engagement and financial control. It covers essential steps, from understanding Web3 and securing music file storage to selecting marketplace tools, deploying smart contracts, and promoting the launch. Regular maintenance and updates are also advised.