How best can we explain the super solution which the team at Bitsong is offering us ?
Perhaps a quick lesson in BECOMING A ROCKSTAR 101: might help.
The traditional pathway to recognition and success for a budding music artist was to send a sample of their work to a record label and hope that the music executives liked it. That might be followed by a recording contract heavily weighted in the favour of the music promoter. The artist had little choice other than to accept such a contract if they were to ever have a chance of being recognised in the public domain.
...THEN ALONG CAME YOUTUBE:
YouTube enabled the aspiring rockstar with an ability to upload a video clip and hope they subsequently received a heap of ‘Likes’. A music executive might notice these ‘Likes’ and offer the artist a contract – again, most likely in the favour of the music promoter.
Either way, it was more often than not, a long and arduous road to recognition and often with little remuneration for the artist. Legal, management and promotional fees ate into earnings and, creative control – that essence which defined and fuelled creative ability, would end up in the hands of the artist’s promoter.
In the meantime, the rate at which content was being uploaded to YouTube EXPLODED ...and so does the public’s appetite for streamed independent music which they download to their personal devices.
...JUST HOW MUCH GROWTH IN GLOBAL MUSIC REVENUE ARE WE TALKING ABOUT?
To paint a picture as to how huge an impact the streaming and the download of paid, digital albums has had on the global music industry revenues, within these categories, a massive 43% (US$7.4 billion) of the total US$17.4 billion in 2017, (up from US$16 billion in 2016) has been contributed.
Furthermore, these categories are projected to exponentially increase global recorded music revenue to US$52 billion by 2020...nearly 300% over the next three years! Compare this to the 9% increase in global music revenue from 2016/2017 and you really start to get some perspective as to how massive the opportunities are for those who position themselves correctly.
..THEN ALONG COMES THE ETHEREUM BLOCKCHAIN & THE IPFS FILE DISTRIBUTION SYSTEM
To say the timing is good is nothing short of an understatement!
Music and video distribution can now be decentralised without any intermediaries having their snouts in the trough. This means that budding music artists and videographers can now control their own direction and creative content. One of the innovations is that raw talent can shine through and the individual artist is no longer constrained by a formalised contract which potentially removes an individual’s creative content.
SO HAVE YOU NOW ‘GOT IT’? ... do you see where the opportunity lies?
SHAZAM: ...Bitsong is born.
...THEN A SMART GROUP OF ENTREPRENUERS RECOGNISE THE OPPORTUNITY AND BITSONG IS BORN:
The smart guys at Bitsong recognised that via the Ethereum Blockchain and the IPFS file distribution system, they can create a music distribution system which will enable budding music artists and videographers to upload content without any intermediaries AND the artists, the listeners and the advertisers all get paid for their input and listening time.
The Bitsong site will become a one stop shop for music the likes that has not been seen.