Peer lending and crowdfunding have already greatly changed different industries. With the cryptosphere, there are now new ways of funding projects and selling products. It places all necessary tools directly in the hands of the project manager.
Without centralized databases and third party governance structures, all crucial decisions can be made by an artist himself, his manager, an artist’s team, or even via crowdsourcing in collaboration with fans.
Source: Is blockchain causing a music revolution?
The Digital Data Exchange consortium (DDEX) on Monday announced the completion of a new standard for capturing and storing key sound recording metadata at the time and point of creation.
The Recording Information Notification (RIN) standard is an XML-based file format that standardizes metadata describing all aspects of a recording session, from the participants to the instruments and equipment used to the time, location, length and other technical and creative elements of the recording.
“RIN will facilitate crediting, ensuring that performers, producers, recording engineers are properly identified and paid for their contributions,” Maureen Droney, Managing Director at The Recording Academy Producers & Engineers Wings and a member of the DDEX RIN Working Group,” said in a statement. “Organizations that collect and distribute performance royalties to creative contributors often find it difficult to obtain information on their identity. With this revenue stream growing it is more important than ever to streamline the process of identifying and paying the appropriate parties.” Continue reading “DDEX Rolls Out New Recording Metadata Standard”
The music industry is getting its own version of a tech-world rite of passage: a three-month “accelerator” program for music startups trying to get off the ground.
Techstars, a 10-year-old Boulder, Colo., company that runs business accelerators across the country with specialties from health care to retail, is starting to accept applications this week for its first music-industry focused program, launching in February.
Source: Techstars to Launch Accelerator for Music-Industry Tech Startups – WSJ
It was beneath the old acacia tree where the community elders meet that Ole Kaunga and Ole Tingoi turned to me back in 2006 with an idea that could help the Maasai people of East Africa open up a modern-day revenue stream. “Let’s build a library of our music and sell it online,” Ole Kaunga said. “Like iTunes.”
And so began an ambitious partnership that seeks to deliver concrete benefits to the community through recording, archiving and commercializing Maasai music and other cultural expressions.
Source: Managing rights in digitized indigenous music
Tel Aviv based music tech startup Revelator has raised an additional $2.5 million to expand its b2b digital music distribution, sales, licensing and analytics platform. The Series A round was ld by Exigent Capital with participation from the Digital Currency Group and early-stage fund Reinvent. To date, the startup has raised a total of $4.5 million.
“We are talking about a massive $45-billion-dollar per year global music economy, where people are consuming more and more music, and amazingly almost half of royalty payments aren’t finding their way back to the beneficial owner. The majority of players in the media and collective rights industry still rely on outdated means of tracking distribution and payments, and have completely failed to adapt or modernize their infrastructure to properly handle the explosion of data, channels and new business models,” said Bruno Guez, CEO and Founder of Revelator.
Source: Revelator Raises $2.5M To Expand Digital Music Business Platform – hypebot
Warner Music Group and b2b music video platform Vadio announced a content agreement on Wednesday that will give Vadio’s partners easy access to WMG’s trove of artist videos. This marks the first major label partner for the Portland, Ore.-based company, whose network of partners spans 80-plus streaming video channels, including Radio.com, Vizio and MetroLyrics.
Vadio’s curation platform, ChannelMaker, allows its clients to curate music video channels from a library of videos. Ron Wilcox, WMG’s executive counsel of business affairs, strategic and digital initiatives, said in a statement that “Vadio’s extensive distribution network of video channels expands the potential for Warner Music artists to connect with new fans, while creating new revenue streams on our artists’ behalf.”
Source: Warner Music Group Partners With Streaming Video Platform Vadio | Billboard
Audiam, a company that collects missing streaming royalties for songwriters such as Bob Dylan, James Taylor and Metallica, has been acquired by a Canadian performing rights group.
The Society of Composers, Authors and Music Publishers of Canada, whose clients include star acts from R&B’s the Weeknd to rock band Nickelback, bought Audiam as part of its effort to more efficiently identify its clients’ compositions when they are played on digital services such as Spotify AB, Apple Inc.’s Apple Music, Pandora Media Inc. and Alphabet Inc.’s YouTube—and to pay them for all such instances.
Source: Canadian Music Rights Company Acquires Royalty Collection Startup – WSJ