How The Creative Industries Are Using Blockchain

This was Blockchain Week in New York, formally known as Consensus 2018, an orgy of  blockchain-focused conferences, hackathons, meetups, hookups, seances and parties organized by CoinDesk that actually ran to 10 days. Yours truly was asked to moderate a panel at one such conference, the Blockchain Brand Innovation Summit put on by the CDX Academy and Columbia University Business School, and to offer a few words on how folks in the creative industries are using, or thinking of using blockchain.

I am no kind of expert on blockchain or the various technologies or mathematical concepts associated with it (crypto, consensus mechanisms, smart contracts, etc.). But in my capacity as co-founder of the RightsTech Project I’ve observed how many different sectors of the creative industries are looking to blockchain as a solution — or part of a solution — to a common set of challenges. So, in preparing for the panel, I pulled together a few “thoughts” on the question and came up with five broad use cases, or categories of use cases, for which people in the creative industries seem to be looking to blockchain. Read More »

Video: RightsTech Summit Keynote Conversation With Benji Rogers

RT Summit 3PledgeMusic CEO and founder of the DotBlockchainMusic project Benji Rogers was interviewed by Robert Levine, author of “Free Ride” and a former executive editor at Billboard, during a keynote conversation at the inaugural RightsTech Summit on July 26 in New York. Among the topics they discussed was the potential for blockchain technology to create an immutable but endlessly updatable ledger of “digital truth” regarding the ownership and priority of sound recordings and musical compositions.

Co-produced by Concurrent Media Strategies and Digital Media Wire, the RightsTech Summit brought together over 100 senior media and technology executives, thought-leaders, entrepreneurs, and artists from across multiple media and entertainment industries for a wide-ranging discussion of technology innovation around the registration, management and licensing of media rights on digital platforms. The next RightsTech event will be held in New York in September in conjunction with Digital Media Wire’s New York Media Festival.

Video of Benji Roger’s keynote is available here. We’ll have audio from several other sessions from last week’s Summit up shortly.

(Video courtesy of SlidesLive).

5 Questions With: Benji Rogers of PledgeMusic

Guest Post: This post originally appeared on Digital Media Wire

PledgeMusic is a direct-to-fan music platform that enhances the fan-artist dynamic from the creation of music to its experience in digital and live formats. The platform allows fans to play a part in the actual music making side of an artist’s work while the creators get a better, more intimate understanding of the people that support their careers. In short, PledgeMusic has created a digital environment that breaks from all traditional production-to-distribution channels in today’s hyperconnected world.

Benji-Rogers-Photo-Cropped-730x480A key feature of PledgeMusic allows artists to sell a project straight to their fans before it comes to fruition. In a campaign artists can take preorders for albums, for instance, or offer other products or experiences to their super fans as incentives for funding an idea. Another way PledgeMusic is revolutionizing the creation and distribution of music is through direct purchases and the implementation of blockchain.

Benji Rogers is the co-founder and chief strategy officer of PledgeMusic and the lead musician behind the band Marwood. A public speaker, investor, and musician from London and New York, Rogers was the recipient of the A&R Worldwide “Digital Executive of the Year” award, and in 2013 he was named to Billboard‘s 40 Under 40 Power Players list. Digital Media Wire had the chance to ask Benji some questions about PledgeMusic, the music industry, and the role of blockchain in this new model. Below is a recording of Benji’s responses along with a transcription. Read More »

Bridging The Streaming Music ‘Value Gap’

The global music business offered up two cheers this week for the first signs of life in the recorded music business in nearly a decade. According to International Federation of the Phonographic Industry’s (IFPI) latest global sales report, total recorded music revenue grew 3.2 percent in 2015, to $15.0 billion, the biggest jump since 1998 and the only growth since 2012, when sales ticked up 0.3 percent.

The overall growth IFPI_YouTubecomparisoncame entirely from digital sources, particularly streaming revenue, which jumped 45 percent over 2014, to $2.9 billion, or 19 percent of total revenues. Physical sales continued their decade-long slide, falling another 4.5 percent, buoyed somewhat by the continued renaissance of vinyl.

The strong streaming numbers were not evenly distributed, however. Subscription streaming revenue accounted for $2 billion of the $2.9 billion total, as the total number of paying subscribers reached 68 million, while industry revenue from ad-supported streaming amounted to a mere $634 million, despite more than 900 million listeners worldwide.

The report referred to the mismatch between consumption and revenue to artists and labels as a “market-distorting value gap,” that must be closed, echoing comments last month by RIAA CEO Cary Sherman. Read More »