Nothing Else To Lose

Even before the terrible Covid19 pandemic hit the world, the majority of musicians, at all levels were struggling to make ends meet. Sure the big stars, the heavy hitters, whether from the world of rock, pop, RnB, dance, grime, hip hop and so forth will continuously make obscene amounts of money, but for the majority, and that majority being 95%, will never make enough to cover their costs, never mind pay the rent. And that is what most musicians want. To make a decent living without having to take on a soul destroying job.

The pandemic has even woken up big touring stars to the fact that the current royalty payouts from streaming sites such as Spotify, iTunes and Deezer etc are laughable.

We all know the world is a tough place and nobody has a divine right to be a superstar, but all artists at all levels, have a right to be given the opportunity, at every level, to make a decent revenue return from their music.

Right now the market is controlled and cornered by Spotify, Apple and the three major labels ; Sony BMG, Warner Music and Universal. The payouts on streaming, as we all know, is one step above criminal. Streaming sites like Spotify pay their artist an average of $200 a year. One million streams generates on average £3k.

Then factor in the costs associated with creating music with 1m streams, then you not find much left in the kitty. The CEO at Spotify is worth $4bn. Apple is worth four times the value of Facebook. The three major record labels all have a stake in Spotify. Spotify makes little profits, it has shareholders demanding dividend payouts, it now has to make profits using paid advertising and many artists are now paying hundreds, even thousands of dollars per month to get on playlists in order to get noticed.

Many of the streaming sites now use panels of people alongside their algorithms to decide what music should be played and it has even got to the point where the algorithm will dump and penalise any track that is over three minutes long.

So when did a computer program and an elite bunch of music listeners decide what is good music and what is not?This is not the way artists should be treated. The consumer is being told what to do and what to listen to. The artist is being moulded into writing and producing to a spec sheet. This is not what we regard as open and fair. It`s discriminating against musicians.

At Aurovine we welcome all artists from all genres. We encourage artists to release all styles of music, and we definitely encourage all tracks, even if twenty minutes long to be on the Aurovine platform. We want artists to explore blockchain music and the long term value and engagement it can bring. We want them to engage with us and let us help and advise on their careers.

If you`re an artist and use streaming sites like Spotify, then you have to really question why you are doing it. It`s surely not for the financial rewards. Does Spotify and the huge music corporations really have your best interests at heart? I doubt it. Their goal is to maximize profits and to appease shareholders. They have no interest in increasing royalty payouts, because they cannot afford it. The business model is flawed. They`re co-owned by the majors and the majors back and promote the music they think will make them a fast buck. They have no interest in long term investment of the artists. Sure they have pretty shop window and will declare how amazing the system is, but is their ethos is truly to help the struggling artists? We doubt this.

Here at Aurovine, by exploiting the opportunities offered by the blockchain and the Audiocoin, we are offering artists a new way to develop and grow their careers and music fans a new way to engage in music. Blockchain music is open, ethical, transparent and more importantly decentralised. Music is not controlled and conditioned by elite organisations. We`re giving musicians and fans a new way to shape the future of music. Many don`t like it and many will not ever like it, but if you are an artist left scratching your head at your streaming statements, then maybe the time is now to give blockchain music a go. Ask your yourself, what is there to lose. The answer? Nothing. There is nothing else to lose!

Author: admin

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