Blockchain: Putting Creators Behind The Wheel Of The Creative Industries
08 May 2018
If you want to make $100 from people listening to your music, you had better have a lot of friends/fans.
Figures from Audiam show that to break three figures on Spotify, you need 150,000 plays by premium subscribers. The road to $100 through the free, ad-supported version of Spotify is even more arduous, requiring 700,000 streams. And that is without labels, managers, promoters, agents or other band members getting a cut.
In related fields, video creators, writers and other creatives are facing similar challenges.
Little wonder that companies and start-ups have seen an opening and are using blockchain to streamline, secure and automate aspects of the creative process from idea to payment.
BDO Global's latest Insight explores the possibilities of blockchain and envisions what the future might look like.