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The Impact of Blockchain on the Music Industry

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  • Sitonio, Camila
  • Nucciarelli, Alberto

Abstract

This paper explores the impact of blockchain on the music industry with a focus on the implications technology can have for artists. By investigating the industry's supply chain, we argue that the on-demand streaming platforms (e.g. Spotify and Apple Music) have allowed consumers to easily access music products but have introduced a level of intermediation between artists and customers leading to inefficiency of the royalty payments systems. The goal of this research is to identify blockchain applications that would enable the disintermediation of the industry, allowing artists to create and capture more value from their own products. This paper discusses some applications and concepts related to blockchain, including smart contracts, record keeping, revenue management, and metadata analysis. By presenting some examples, we assess the current state of the technology's development in the music industry, how companies are introducing this new model into the market, and some limitations these models may have.

Suggested Citation

  • Sitonio, Camila & Nucciarelli, Alberto, 2018. "The Impact of Blockchain on the Music Industry," 29th European Regional ITS Conference, Trento 2018 184968, International Telecommunications Society (ITS).
    • Handle: RePEc:zbw:itse18:184968
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    References listed on IDEAS

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    1. Xu, Zhenning & Frankwick, Gary L. & Ramirez, Edward, 2016. "Effects of big data analytics and traditional marketing analytics on new product success: A knowledge fusion perspective," Journal of Business Research, Elsevier, vol. 69(5), pages 1562-1566.
    2. Henry Chesbrough & Richard S. Rosenbloom, 2002. "The role of the business model in capturing value from innovation: evidence from Xerox Corporation's technology spin-off companies," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 11(3), pages 529-555, June.
    3. Benoît Demil & Xavier Lecocq & Joan E. Ricart & Christoph Zott, 2015. "Introduction to theSEJSpecial Issue on Business Models: Business Models within the Domain of Strategic Entrepreneurship," Post-Print hal-01563054, HAL.
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    Cited by:

    1. Paola Argüello Kalpa & María Alexandra Ortiz Cabrera, 2020. "Colección Enrique Low Murtra. Tomo XIII, Derecho económico," Books, Universidad Externado de Colombia, Facultad de Derecho, number 1274, August.
    2. Adjovu, Charles & Fabian, Ewa, 2020. "Blockchain-mediated Licensing: Legal Engineering for Artist Empowerment," LawArXiv kfjxa, Center for Open Science.

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