Future Value Shifts in the Music Industry
With Benji Rogers & co’s work on Blockchain in the music space beginning to take flight, I’ve been clicking more links on the subject lately.
This one in particular caught my attention- it discusses how to this point the internet has captured value via the application, with the underlying protocol not getting much of the pie. Think Gmail vs. Pop3.
That blockchain flips this is no small feat, and is similar to how I see the music industry progressing for increasingly independent artists, thanks to the very same technology.
To adapt this a bit further, here’s the old model-
And here’s where I think/hope it’s going, for certain artists-
Of course, it’s not a traditional “label” at this point, it’s more of an admin/distributor, but that doesn’t mean they can’t be critical to the success and operate functionally similar to the labels of now. And the Artist is going to be MORE reliant on their own management team, which carries it’s own risks. But the point is, thanks to the current ability to get a Label Services Deal via Kobalt/similar, or the future Blockchain protocol, artists are getting a bigger slice of the pie to do with as they see fit, be it cash out or reinvest. The days are numbered for the old way of one artist’s hit paying for a hundred other artists’ flops.