I just read an article about the reality of Korean music market.
According to a Korean musician, when his music is downloaded for 50 cents (600 KRW), he gets only 1.5 cent (17 KRW), and other 97% of profit goes to music dealers. With regard to streaming he earns 0.6 cents per play. This is a crazy market.
Will Music help this artist? If so, I would like to promote Bitshares Music to Korean musicians.
Cob, can you reveal the specific profit ratios for downloading and streaming?
It's important to remember that sometimes (often!) the artist is splitting the income with many other people/entities. The writers, the publisher, etc.
So those numbers are scary indeed! But they might result from a really bad deal that artist got from his label. PeerTracks won't be able to help in that sense. The deal you have with your business partners is a deal, blockchain or not.
That all being said, putting your music up on PeerTracks will be much better for all parties involved.
The cut taken by this project will be tiny. Nothing compared to the numbers you read about. I don't have exact numbers since we do not have our exact costs of operation yet. Keep in mind there are ways to offset costs too.
I'll leave it at that for now. Stay tuned.