Revolutionizing Royalty Distribution for Artists: Transparent, Efficient, and Empowering

CryptoBlockNews 20 October 2024, 06:00 published

Contents

1 Revolutionizing Royalty Payments: Artists Demand Faster and Fairer Compensation
- 1.1 The Need for Timely Royalty Payments
  - 1.1.1 Outdated Payment Methods Hindering Artists’ Income
  - 1.1.2 Challenges in Royalty Distribution
- 1.2 Redefining Revenue Sharing for Artists
  - 1.2.1 Impact of Intermediaries on Artist Payments

Revolutionizing Royalty Payments: Artists Demand Faster and Fairer Compensation

The Need for Timely Royalty Payments

Outdated Payment Methods Hindering Artists’ Income

Artists are facing a critical issue with delayed royalty payments, impacting their income in today’s fast-paced digital landscape. The traditional method of receiving payments after long periods no longer meets the demands of real-time data and digital payment systems.

Challenges in Royalty Distribution

The complex process of tracking data across multiple platforms poses a significant challenge to timely royalty distribution. Each streaming platform, radio station, or live performance generates vast amounts of data, leading to delays and errors in identifying the rightful owners of the content.

Redefining Revenue Sharing for Artists

Impact of Intermediaries on Artist Payments

Artists often face reduced earnings due to the multiple intermediaries involved in the revenue-sharing process. Administrative fees, publisher royalties, and record label advances diminish the final payment received by artists, causing further delays in compensation.