If you haven’t heard about Musicoin yet; Musicoin is more than the world’s first blockchain enabled music streaming service, it is a project that celebrates independent artists by empowering them to be heard anywhere — subscription and advertising-free — with fair and direct compensation. Thanks to blockchain and the platform’s PPP (Pay-Per-Play) protocol, 100% of royalties are paid instantly and directly to artists in MUSIC, $Musicoin’s in-house cryptocurrency. In a recent move unheard of in both the music and crypto industries, Musicoin announced its pledge to guarantee top payouts among leading streaming services. Source: Musicoin Medium Official
If you are a Musicoin Listener or Musician you might have noticed recently the new announcement that shows on your profile page when you’re logged in (As per screenshot below)
What does this mean to artists and music creators?
Musicoin has implemented an artist payout adjustment since September 8. Although each stream currently yields an instant payout of one Musicoin per play (still exceeding every leading music platform in the market, including Apple Music, Amazon Music, and Spotify) The Musicoin Project has chosen to enact an adjustment to its PPP (Pay-Per-Play) protocol, guaranteeing artists receive the best compensation — even during sustained bear markets. More Info & Source
With this adjustment in place, the platform will be coded to distribute a payout total equivalent to USD0.011 worth of Musicoin per play whenever its market price is less than USD0.01. And unlike leading streaming services, artists on Musicoin are awarded 100% of their streaming royalties, instantly. This particular adjustment will be automatically disable whenever Musicoin’s market price goes above the minimum payout of USD0.011, so artists can profit from volatility. Additionally, the minimum payout may be increased in the future, in order to remain the top payer among leading platforms.
Average gross payouts per song stream (Source: The Trichordist, January 15, 2018)
“Guaranteeing best-in-class streaming royalties is a love letter to artists, the lifeblood of the music industry,” says Isaac Mao, founder of The Musicoin Project. “We’re tired of corporations getting fat off of the musician’s hard work.”
This transparent, focused commitment to putting the artist first is unprecedented in an industry dominated by large corporate players. According to a Citi GPS report published in August, record labels and music companies absorbed a staggering 88% of revenue generated in 2017, including album sales, streaming, YouTube ads, radio royalties, and ticket sales. And if that wasn’t aggravating enough, consider that this measly 12% artist payout has only increased 5% since the year 2000.
Zeljko Stanojkovski, Musicoin’s Chief Content Officer adds, “Putting artists first helps buck the unfortunate decades-long ‘industry standard’ of handing them the short end of the stick. We hope that giving artists 100% of their streaming royalties sends a strong message that can help trigger a sea change in the music industry. This PPP adjustment strengthens one of Musicoin’s core ideas: to change the industry in favor of artists.”
Artists eager to receive top streaming compensation are encouraged to join Musicoin today.
Contact firstname.lastname@example.org for media inquiries. For updates, join the community at musicoin.org.
More Information about Musicoin and how You can start your musical journey as a musician on the Blockchain check out my recent article featured on The Creative Crypto the Steem powered magazine dedicated to all things creative on the blockchain developed by the @Sndbox Incubator.