Blockchain-based music distribution became popular in 2021, but many artists that would benefit from these innovations are unaware of these emerging platforms or just beginning to learn about them. Bitcoin Association is looking to change that by educating and informing independent artists and creatives at one of the biggest events for this demographic, South By South West (SXSW) in Austin, Texas.
We need your help!
To make the panel a reality, we need you to vote before 21 August!
More info: https://t.co/yYE8fz3RYY
— BSV Blockchain (@BSVBlockchain) August 15, 2022
Bitcoin Association has created a proposal for a “Democratise Music” panel to take place on the Future of Music track at SXSW 2023. The proposal is currently live on SXSW’s panel picker, which means you can vote in favor of the panel if you haven’t already!
How artists make money
If a major label does not sign an artist, then they are at a significant disadvantage when it comes to profiting from their music. In a world where major streaming services require 250 streams for $1 in revenue, artists find it beneficial to be signed to a major label with a marketing department whose job is to ensure the content reaches as many ears and eyes as possible—but many artists don’t have that luxury. They don’t have record-deal money from labels that they can rely on to pay their bills. For most independent artists, their creations are their income. In a world where most consumers listen to music on streaming platforms, that leaves these independent artists with little to no revenue, even if their music is getting millions of views on streaming services.
Many companies have set out to solve this problem, and some are using blockchain at the infrastructure layer of their solutions. A blockchain-based solution gives an artist a transparent way to offer their music directly to consumers while removing the middlemen, such as streaming platforms and record labels, that often reduce the creator’s overall bottom line. There is value in blockchain-based solutions for both independent creators and artists that are signed by a major label because it ultimately gives each group a new way to connect with and grow their audience which can create new revenue streams.
The ‘Democratise Music’ panel will further explore how artists can use blockchain-built solutions to capitalize on their creations in ways that currently aren’t possible on streaming platforms. So far, four speakers have been lined up for the panel: Marc Scarpa, founder of DeFiance Media; Shem Booth-Spain, co-founder and CEO of Blarecast Systems; Michal Scislowski, CEO of Soundoshi; and Luke Rohenaz, CEO and founder of Jamify. Each individual represents a company that directly deals with or services individuals creating various types of multimedia, ranging from music to television broadcasts.
However, this panel will only be added to the SXSW agenda if it gets voted into the schedule by the community! That means that if you support the education of creatives and musicians and would like to see them prosper through technological advancements like blockchain, then you will upvote this proposed panel on the SXSW panel picker website before the August 21 deadline!
Watch: The BSV Global Blockchain Convention panel, Music & Blockchain
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