Understanding The Present Flaw in The Music Industry

And how the artists are being exploited by it

Dictated by Spotify and record labels

Taylor Swift didn’t own the music she created and was forced to record her classics so that she could reclaim control. Musicians are struggling to make sense of royalty distribution in its present form and find it difficult to keep a fair share of the revenue they generate on existing platforms.
Record Labels help the artist in the following ways:

• Funds to produce the music
• Market and Socialise the music

For this they take up 80% of the revenues generated and the ownership rights to the music.

The artist gets only 20% of those revenues which are also distributed among other people who were involved in the making process like songwriters, composers, etc.

Modern creators are being robbed of their profits!

Revolutionising the Music Industry by Web3

We plan to fix this flaw:

1. Give ownership of Music to the Artist: Hence the ownership rights will be with the artist and not the record labels
2. Easily Invest In Music: It will also provide partial ownership rights of the music to general people who would want to invest in the artist's music which they can claim for the tokens that they receive in exchange of buying the ownership rights.
3. Decentralised Marketing: The more people that view it and give it an upvote (signal it), the more incentives will be added to their wallets.