Did you know that the average American listens to four hours and five minutes of audio every single day? This is broken down into broadcast radio (52% - visualize on screen, don't read out loud), owned music like CDs, Vinyls and music downloads and more (20%), streaming services (12%), satellite radio (8%), podcasts (2%) and others like audiobooks (2%).
With audio consumption extremely accessible to most people, it is no surprise that the music industry is worth $57B.
With so much money floating around the music industry, one might be safe to assume that musicians are drowning in cash.
However, the hard truth is that it is brutally hard for most musicians to make money in the streaming era. It is estimated that the average, working musicians make a gross salary of $30,200 a year. The average American wage for 2022 is $53,490. Artists get paid fractions of a penny per stream, and plenty of artists make nothing at all.
What if crypto had the ability to change that?
On today’s CoinMarketCap episode we dive deep and explore the intersection between crypto and music:
1:32 - The Streaming Era
02:23 - Ticket Scalpers and Resellers
04:01- NFTs Are the Technological Tour de Force Driving This Revolution
04:47 - But What Are Music NFTs?
05:09 - What’s the Difference Between an NFT Music Store and the iTunes Store?
05:39 - How Are Music NFTs Better for Musicians?
10:11 - What Are the Top Decentralized NFT Music Platforms?
10:50 - Audius
12:34 - Arpeggi Studio
13:42 - Nina
🔔 From crypto news, to market moves, and to educational how to videos. If you want something more than just hype and to actually learn about crypto, make sure to hit the subscribe button right now and turn on notifications to not miss out on new videos!
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With audio consumption extremely accessible to most people, it is no surprise that the music industry is worth $57B.
With so much money floating around the music industry, one might be safe to assume that musicians are drowning in cash.
However, the hard truth is that it is brutally hard for most musicians to make money in the streaming era. It is estimated that the average, working musicians make a gross salary of $30,200 a year. The average American wage for 2022 is $53,490. Artists get paid fractions of a penny per stream, and plenty of artists make nothing at all.
What if crypto had the ability to change that?
On today’s CoinMarketCap episode we dive deep and explore the intersection between crypto and music:
1:32 - The Streaming Era
02:23 - Ticket Scalpers and Resellers
04:01- NFTs Are the Technological Tour de Force Driving This Revolution
04:47 - But What Are Music NFTs?
05:09 - What’s the Difference Between an NFT Music Store and the iTunes Store?
05:39 - How Are Music NFTs Better for Musicians?
10:11 - What Are the Top Decentralized NFT Music Platforms?
10:50 - Audius
12:34 - Arpeggi Studio
13:42 - Nina
🔔 From crypto news, to market moves, and to educational how to videos. If you want something more than just hype and to actually learn about crypto, make sure to hit the subscribe button right now and turn on notifications to not miss out on new videos!
🔵 https://CoinMarketCap.com/ is the world's most-referenced price-tracking website for cryptoassets in the rapidly growing cryptocurrency space. Its mission is to make crypto accessible all around the world through data and content.
📲 Download our app!
IOS : https://apple.co/3dOkokH
Android : https://bit.ly/3gHyJkS
🤝 Join CoinMarketCap!
https://bit.ly/3dVaEoS
Follow CoinMarketCap on social!
https://twitter.com/CoinMarketCap
https://www.facebook.com/CoinMarketCap
https://www.instagram.com/CoinMarketCap
https://reddit.com/r/CoinMarketCap
https://t.me/CoinMarketCap
📩 Subscribe to our Newsletter!
https://coinmarketcap.com/newsletter/
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Francisco Gimeno - BC Analyst If there is an exciting use case for the blockchain, and now for NFTs and surely for any new idea in the digital economy, is the creativity in Art and Music. Creators have been trying to get rid of middlemen using platforms like Patreon and others, but not everyone can afford or know hot to do this. Using NFTs of your artistic creations, specifically in this podcast about music, is a deeply transformative experience for the relationship between creators and users, and the economic relationships. Music being tokenised, being converted into NFTs, being into specific music blockchain based platforms will (is already in some cases) changing the whole space. What do you think?