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How Cryptocurrency And Decentralization Could Change The Entertainment Industry

Streaming giants such as Spotify and Youtube have taken over the entertainment industry in the last decade. With over 19 billion dollars generated in 2018, the music industry has turned into a goldmine for streaming platforms and advertisers. However, the only ones who are not being paid what they deserve are the actual artists who create original content. The leading streaming platforms are to blame for the lack of financial support for new artists.

I’m going to tackle the issues of the content streaming business model and the potential decentralized solutions that could bring a massive change to the entertainment industry!

Why So Many New Artists Are Giving Up

With music and entertainment being two very competitive niches, new and upcoming artists are facing many challenges on their road to success. One of the main roadblocks they face is the lack of financial support for their creative endeavors.

The digital revolution has made it easy for people to access new music and content anywhere they go. On the more negative side, it has also made it more difficult for creators to monetize their hard work.

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In fact, artists receive only a small portion of the overall revenues generated by the content they create. Once you count in the streaming platform fees, marketing costs, and the fact that creators receive only a fraction of the ad revenue, the upcoming artists have nothing to lean on. The centralized streaming platforms are focused on growing their ad

Article source: https://www.forbes.com/sites/ilkerkoksal/2019/10/14/how-cryptocurrency-and-decentralization-could-change-the-entertainment-industry/

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