So, I have been railing about this for years but realized that I have never really written about it. WHY, are we as an industry (music) so passive about new technology. We shun all of the new development and then when it’s foisted upon us on mass we are forced to deal with it while also taking a defensive approach to it.
Just look at Napster and what it’s led to. We just say no, like that shit works, but the Silicon Valley and the VC community will fund projects to the level of mass adoption. Then we’re forced with adopting and adjusting to some crazy new paradigm where a hit record will make you 40k on a good day. What are we doing!
If we look to other industries, we can see some simple solutions. Auto manufacturers fund college programs and incubators. Apple and Google incubate and invest in projects and technologies that they want to be a part of should they develop and take hold. Tech looks for industries that WANT to partner with them and for the most part, the applications that they develop, together, are more beneficial to both sides. But in the end, they don’t care and they don’t need you.
Don’t get me wrong, there’s no going back now, but we can stop the bleeding and start to take a proactive approach to tech. Just look at the VC game, it’s all equity and exploration. Why are the majors not getting involved with emerging technologies and the development of applications within their space? But here we are, still on the defensive against all of the emerging technology and methods of distribution. Still trying to pick winners and losers even though it’s not up to us. The consumer is still king if they weren’t Spotify and Pandora would have already been gone. But they don’t have a better solution and the optics would are bad.
So far our industries ‘solution’ to piracy seems to be getting some pennies rather than nothing. That does not seem like a solution to me and based on artists, writers, and producers I’ve been talking to, they don’t feel like it’s a solution for them AT ALL.
At our company, we’ve put our money where our mouth is and partnered up with a Blockchain company to explore real applications for Blockchain and Cryptocurrency in the Music Industry. NOT, we’re going to put all rights on a blockchain, that’s bullshit! If you are putting all rights on a blockchain you are essentially saying that you are going to get all the Major Labels, Major Broadcasters, and PRO’s to post their transaction publicly. NO, YOU’RE NOT!
The possibilities are mind-blowing. We’re currently exploring I.P. solutions, Legacy and Major Label act applications, and yes, music rights and management solutions. To that end, while it may not be widely adopted for some time, we are building in-house solutions for some large-scale publishing catalogs. These present some amazing advantages for their signed and represented composers and artists.
But, we’re still on our own out here. We are working with Legacy acts free of their Major Label obligations and Independent Artist, Composers, Writers and, Publishers. Every single Major has been interested in the conversation, but no one wants to get involved, sound familiar? So here we go again, we’re going to wait for someone to foist some half-assed blockchain product in the music industry that was developed with NOT ONE music industry person or company. Not if I can help it! If content really is king than we’ve got to be smarter than this.