Royalties in the Digital Music Report 2020 is out!
In January 2020, at OPUS we made an internal decision to explore a great and new opportunity to deliver value that would not only benefit OPUS itself but the wider Blockchain community. For that reason we have been working very hard on the report that we are glad to present you today. We deliver it in this format because we believe that in addition to our technological expertise, we can also contribute to expanding the general knowledge of this crucial market segment of digital music services. The report is a product of work by our experienced business development team, as well as external consultants hired for conducting this and the upcoming market analyses.
OPUS’ key concern is how the Blockchain can secure the rights and earnings of artists who are at the core of our mission as the decentralized music streaming platform. We have found that the currently-existing music streaming platforms pay abnormally low royalties to the artists, relative to the subscription fees they charge platform users. We are there to change it. Today we would like to share with you the Royalties in the Digital Music Report 2020. As we are preparing for the OPUS main net launch, this is a great moment to expand the knowledge on that specific market segment.
The report analyses the micro- and macroeconomic caveats of royalty payments in the business of digital music streaming services, in which OPUS operates. The report takes a closer look on specific regions where the promotion of OPUS may be additionally beneficial for users and for the platform growth. The key finding of the report is the linkage of royalty rates with the dynamics of overall growth of the general economy, due to the dependence of artists’ earnings on the levels of disposable incomes, and hence the exposure to booms and busts. The tokenization of royalties gives an opportunity to reduce these fluctuations in final payouts.
We are not stopping here! In addition to the tech development, we are already working on the next industry reports, focused on exclusive topics to the digital music industry and its key concerns — like in this one we did with the issue of royalties. If you would like to contribute to the next edition of the report, please write to us at: contact@opus.audio.
Stay tuned for the next news on fantastic things that are happening at our team. With the Blockchain technology, let’s empower artists and their fans, and change the digital music industry together!