Home TECH How will blockchain help solve the problems plaguing the music industry?

How will blockchain help solve the problems plaguing the music industry?

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How will blockchain help solve the problems plaguing the music industry?

During recent years, blockchain technology has witnessed many improvements and developments compared to the early years of its widespread appearance with Bitcoin, and it has become able to work in many different fields and sectors such as the music industry after it was limited to the financial field only, and with the rush of many companies And institutions looking for new solutions using blockchain, it becomes difficult to ignore what this technology can achieve.

One of the most prominent areas that may witness improvement if it relies on blockchain is the music industry, which includes everything related to this field in terms of publishing and distribution rights, calculating the percentage of artists’ profits and protection from piracy in addition to many legal complications that differ from one country to another, and in this article we will talk On the problems plaguing the music industry, with an explanation of the role of blockchain in solving them.

The music industry and its influence with technology

For decades, the music industry and its distribution remained limited to selling CDs and other media directly from trusted stores, but with the entry of the Internet to the world and its development to include all aspects of life, it became the preferred place for many to buy and listen to music, although this opened the way for growth This industry and its change for the better in many respects, however, it created some new problems and increased the impact of some old problems as well.

Since the beginning of the millennium, getting music by purchasing albums digitally through the Internet has become the most popular method, and since the last decade, music streaming services such as Spotify have spread to become the most popular today, so that all that is needed for the user is to pay a monthly subscription to listen to millions of songs And the musical compositions are legal without the need for piracy at all, however, many artists still suffer from many problems that make the process of obtaining their right from the profits more difficult.

Top music industry problems that blockchain could help solve

Better property rights protection in the music industry

The complexities of copyright and property rights are among the most prominent problems that the music industry suffers from, as the lawsuits related to the violation of intellectual property rights by someone for a song, melody, piece, or even words always take a lot of effort, money and time to settle them, because the verification process The ownership of those rights and tracing their primary source is not easy.

In the event that blockchain is adopted to solve this problem, it may become possible to take advantage of its advantages represented by its ability to keep records securely and reliably, in order to record information about property rights on a single network in which everyone (or a specific category according to the type of network) can display its information and make sure of The main source for a song, lyrics, or melody, for example.

Such problems may be normal for large production and distribution companies or artists who have sufficient resources to enter these legal vortices, but there are many new artists and individuals who do not have the resources or knowledge to prove their right before the law, which makes blockchain their current hope The only one to get rid of any problems of this nature in the future.

Of course, achieving this requires the recognition of the blockchain as reliable evidence by the judges and courts in this aspect, which takes a lot of time to become possible, as there must be a reliable platform or place recognized by several countries and courts to make the process easy and does not consume long time .

Problems of agreeing between parties on how to use the music

Music copyright is bought on a large scale by streaming companies and services such as Spotify, Apple Music and many others, and the process of buying and agreeing to the terms is usually easy and does not involve many complications, but when it comes to purchasing the usage rights individually within advertising videos, movies and series The agreement process between the parties becomes more complicated due to the widely varying nature of use of songs and musical pieces within film production and advertising companies.

Blockchain can solve this problem through smart contracts, which provide many options for customizing them according to each case and agreement, thus making it possible to define the conditions between the parties and create a new contract so that it executes itself without the need for a third party to regulate the process.

Artists get a fair profit rate

Artists get a fair percentage of profits from the music industry

There is a lot of criticism spreading today about the percentage that artists get from the revenues of their music and songs, which is always calculated by the distribution and production companies that take on these tasks, and given that most albums and music clips are published on several different platforms, the task of monitoring the profits Each platform is very difficult for artists, so they always have to trust the percentage they get from the distribution and production companies.

Blockchain can solve this problem by recording all sales and contracts that production companies make with other platforms, which will give them a clearer picture of whether the percentage they get is really fair or not, and this will also help to calculate the percentages that happen. It has to have all parties involved in the song’s release process, such as songwriters, playlists, sound engineers, and more.

Sometimes some companies may need to use certain parts of songs, such as lyrics, melody, or even their own music as well, and in the event that this happens, the owner or producer of those parts will be able to obtain the correct percentage or sue the party responsible for providing profits to him in case he does not get Fully entitled.

Other problems

Gamma Law | How Blockchain Will Change the Music Industry

The music industry is not without some other problems that always affect artists and others working in this field, and the digital piracy of songs is one of the most prominent as well, which can be minimized and spread by using the blockchain if files are stored in the form of small parts in a decentralized manner that is difficult Illegally downloaded and posted.

Another important problem is the length of time artists wait to get their profits, which may reach years sometimes, because of the long time it takes production companies to collect profits from the platforms and calculate the percentage of each artist separately, but using the blockchain to track the songs of each artist from the beginning, determining profits will become More convenient and less time consuming, which will reduce the time artists wait in the end.

Will blockchain spread widely in the music industry?

Blockchain is very popular in the music industry

In general, blockchain will have a major role in reducing the role of middlemen and third parties such as distribution and production companies, and thus restricting their control over this field, which will give more freedom to artists with fairer profit rates as well, but reaching this stage will not be easy and will take a lot of time.

The companies controlling this field may offer other solutions, such as using the blockchain themselves to manage the distribution process and maintain copyright and ownership rights, which will affect the spread of the free and decentralized platforms that exist today such as Mycelia, Musicoin and MediaCoin, but even if these platforms do not succeed, their impact will be positive. In this industry, when production companies are aware of the importance of taking better account of the interests of artists.

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