What Is eMusic?
eMusic is a decentralized royalty and music management system. Its main aim is to ensure that artists and their fans receive better rewards. eMusic is one of the pioneers of digital music. The platform was founded in 1988, and twenty years later, the platform has been able to serve more than forty-seven million music fans.
It is a platform committed to ensuring that artists receive fair pay for their work. As a result, its leaders hold a strong belief that decentralization will play an important role in eliminating the inefficiencies that currently plague the industry, limiting artist’s potential to come up with new music, as well as get to earn a living from their work.
eMusic Blockchain Music Distribution And Royalty Rewards Mission
eMusic has a mission that entails creating a music distribution platform that will be able to strike a balance between music supply and the subsequent rewards. This balance is critical as it has to ensure that there is a balance between the amount of music that is flowing from the music service providers and the artists, and the rewards flowing from the fans.
Anyone who has taken a keen interest in the revenue coming into the music industry will realize that the bulk of the revenue is from streaming services. Many music fans are opting to stream their favorite music thanks to its ease-of-use, convenience, and the wide selection catalog available.
Current statistics indicate the following percentages in terms of the revenue coming from each source:
- Streaming—62 %
The above percentages are representative of the music revenue collected between 2012 and 2017. However, despite the surging revenue, many music streaming providers have not been able to fully tap into this segment as they continue to lose billions of dollars each year. The fans end up being the main losers as they are left with very little choice.
A good example is Tidal, the music streaming service. Three years after its inception, it is still waiting for its biggest wave, yet it has signed on many of the mega artists from across the globe.
Looking at these statistics, eMusic anticipates that there will be an inevitable move towards decentralization. Players in the music industry have to take this plunge sooner rather than later, and eMusic is hoping to be among the first major players in the industry to fully convert and start using the blockchain technology.
Platform users can expect to enjoy features such as:
- Better music, better prices. eMusic customers will increase their spending if they receive better music choices.
- Exclusive content. This platform provides a brand new way of distributing music to fans across the globe.
- Royalty payouts. Artists and labels can start receiving instant royalty payouts for their music.
- rights management. Artists will be able to manage the rights to their music through the use of smart contracts.
- Promotional incentives. Platform users will be rewarded for their referrals, up-sell, community participation, and loyalty.
eMusic eMU Token ICO Details
- Symbol: EMU
- Soft cap: $20,000,000
- Hard Cap: $70,000,000
- Total supply: 500M