From a historical perspective, an artist would traditionally get their income distributed. Usually, a record label would take the biggest chunk of their earnings. Once a label would take their piece, the artist will then distribute more chunks of their income to their manager, their lawyer and other personalities such as band members. Recently, however, the innovation of streaming technologies has taken charge of the music industry.
The introduction of disruptive streaming services, such as Spotify, Google Play Music and Apple Music, has created more problems for artists. This is due to these streaming services also taking major cuts out of artists’ revenue.
So far, the music industry’s adaption to these changes has given more power to the major record labels that monopolise the industry.
Gareth Emery, a DJ himself, has decided to combat this by setting up his own streaming service “Choon”. Choon aims to use disruptive technology to modernise the music industry in a way that benefits artists.
Choon uses blockchain technology to ensure that artists receive the payment as quickly as possible.
To find out about Choon, here’s a couple of videos of the co-founder, Gareth Emery, talking about the companies ethos and their driver for innovation: