Why Blockchain Won’t Save the Music Industry (at Least Not Yet)

I’m sitting in a darkened, smoky room drinking with the dons of the music publishing mafia. OK, it’s not really smoky because you can’t smoke in London pubs anymore and they aren’t really the mafia. They’re rather nice people actually. But the five men and two women around this table, drinking gin and real ale, do run the most important aspects of the music industry.

That would be the publishing and performance royalties paid to artists around the world.They’re industry veterans in senior roles at some of the larger western Performance Rights Organizations (PROs). That’s a critical link in the notorious global infrastructure that apparently causes “artists to lose up to 86 per cent of the proceeds” paid to musicians for their work.

Source: DMN

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