by Goldman Sachs, the music industry -- which was gasping for breath 15 years ago -- is on track to reach $131 billion in the next decade.
This has created exciting new investment opportunities in the music tech space. Here are several key indicators as to why music tech is a high growth area worth exploring.) is exceeding our ability to create content using traditional methods. Imagine, without any prior training, creating a song via AI software with a single click. Now imagine leveraging that song to create a worldwide audience or, even better, a YouTube star pushing that song out to their already-established following.
One promising solution is blockchain technology, which is a public ledger of data to track every stream, download and performance. The implementation of blockchain and tracking standards to enforce around music usage will leverage the metadata to ensure rights holders will be fairly compensated.
New music and entertainment tech offer celebrities direct-to-consumer platforms to bypass traditional social media. These “owned” content channels will offer exclusive music, backstage videos and personalized fan engagements, which will come at a price for fans but will generate revenue for creators.
Beyond fan revenue, direct-to-consumer platforms offer valuable insights to celebrities. This data can offer artists the ability to identify which venue in a city to book tours, better highlight which products and services their fans consume for sponsorships and more information that’s not always accessible with traditional social media platforms based on their fans’ historical preference.A creator’s most valuable asset is their brand. Their talent is a mere component of the brand.
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