A very brief story of music streaming services industry

The music industry has been rapidly transformed over the course of the last 10–15 years. One of the main reasons and the drive behind these changes has been the growth in popularity of online streaming services.

Streaming platforms made other forms of listening to music practically obsolete. No need to buy and download every track to your device to listen to your favorite music — should there be no access to the internet — made services such as Spotify, Apple Music, and Deezer among others a much more convenient and time-saving way to go. As of now, people buy CDs more out of sentiment or a desire to support a favorite artist in turbulent times rather than out of an actual need. Nevertheless, what one could also observe is a vibrant oligopoly in the music streaming market. A situation in which few huge corporations dominate the market and are able to make the world play purely on their terms. In fact, what makes it even less optimistic is the fact that these are in most cases backed up by even greater parent companies — some of the largest corporations around the globe such as Apple, Amazon, or Google.

Undoubtedly, we have waited already long enough and an impulse of long demanded change on the larger scale is needed. Opus Team consecutively works on developing and improving a product, that would provide a tangible solution, applicable to any case scenario by offering over 90% of artists’ revenues to the artists, compared to 60–65% offered by the current industry leaders. Let’s make the music streaming fair. Join Opus now and contribute to the transformation of the world of music in the 21st century.

Opus is a open-source decentralized music sharing platform with demo based on Ethereum and IPFS.