Delaware House Passes Historic Blockchain Regulation The state of Delaware has passed amendments to state law that make explicit the right to trade stocks on a blockchain, according to multiple sources familiar with the matter. Crammed in at the last minute before the state House went into recess, the measures were part of a broader series of amendments that legally recognized any number of records being stored on a blockchain. Read more
Streaming generates vast amounts of royalty data, and not all collecting societies are coping The growth of streaming has meant a vast increase in the amount of data being supplied to collecting societies in order to calculate the royalty payments due to songwriters and music publishers. Some are processing this data better than others, but issues with conflicting information in some society databases only makes things more difficult. Read more
Paperchain Founder Daniel Dewar was recently interviewed by Steve Anderson on The Blockchain Show. The episode is now live and can be listened to via the below links.
Android user? Click here.
iPhone user? Click here.
Listen on the web? Click here.
Spotify, Apple Music, Tidal Paying $1.6 Million a DAY In Major Label Guarantees
On-demand streaming services Spotify, Apple Music, Tidal, Deezer, Rhapsody, and others collectively paid nearly $1.6 million in guaranteed payments a day to just three major recording labels last quarter. Total ‘minimum guarantees’ topped $144 million over the 91 day period, a figure that likely doesn’t include preferred advertising inventory and other juicy perks. That is on top of royalties for actual plays, which more than quintupled that figure.
As awareness moves beyond BitCoin and cryptocurrencies to distributed ledgers, blockchain is fast-becoming the dominant (theoretical) solution to challenges facing many industries. No more so than the music industry—an industry plagued with inefficient and outdated data practices that interferes with the creation and maintenance of reliable data records, resulting in unpaid royalty revenue to artists, publishers and labels.
Share Of Revenue Music Streamers Paid Licensing Orgs Fell 27% In 2016, Says New Study
Music streaming revenue jumped $56.% in 2016. Subscription revenue grew 93% and captured 61.9% of market revenue (U.S.) in 2016, while ad billings ramped 19.5%, to $1.7 billion. Revenue may be growing, but the percentage of it passed on to creators is dropping. An estimated 34.8% of total streaming music service revenues went to licensing organizations in 2016, compared to 47.
The US Music Industry Crossed A Threshold In 2016
Nielsen recently released its Year-End Music Report for 2016 and it details a pattern of music consumption in the United States that has never been seen before. Album sales in every format save one are down from 2015. Downloads of digital songs are down. And yet, overall music consumption was up 3%. The reason? On-demand streaming took over the music business. Read more
Distributed Ledgers: Shared control, not shared data
In the context of distributed ledgers, I have noticed that many commentators and consultants confuse shared control of data with the sharing of data itself. The difference is crucial, and this common simplification misses the most important aspect of distributed ledgers. Read more
Blockchain For Music: The Promise and Problems
Know who owns rights to what is one of the greatest challenges currently faced by the music industry as well as those involved in it.
Blockchain’s Key Economic Impact: Verifying Transactions and Operating a Network
When a distributed ledger is tied to a native cryptographic token, marketplaces can function without the need of intermediaries, lowering networking costs. Bitcoin for the first time in history demonstrated value could be transferred reliably between untrusting parties without the need of an intermediary. Read more
OMG, Ethereum Is So Hard Forked
Basically we think any consternation about recent (intentional and unintentional) forks or their effects is misplaced.
The Changing World of Music Royalties
Today, the music industry generates over $160 billion in worldwide revenue, less than ten percent of which is from the sale of recorded music. As the industry evolves, new revenue sources continue to be created. Read more
Blockchain in Financial Services — Hype or Reality?
Why are Financial Services firms interested in Blockchain? First they see the potential for cost reduction in processes like trade settlement and reconciliation.