Revolution in music. How would one go about it?

[lijshaw]

Ok  I'm jumping I here because I've been thinking about this a lot too  and am very happy to see a thread already started.

I think the first challenge is that music as it exists now has very little value to the consumer unless that value is built up through direct fan base or a central market (iTunes. Spotify) that adds consumer value to the listening experience. Both of these existing approaches require trust and a controlled marketplace. But they don't create much value for the artists.

To me what would be exciting about music meeting the blockchain is a way that could potentially create unique music files that could not be copied (like vinyl records are one of a kind). A major factor in the evaporation of the pre internet music industry was the creation of easily copy able music files and a massive increase in access to music.

Vinyl records and originally CDs were unique and therefore have value in their scarcity. Digital music is common and available in abundance. So therefore people are less likely to want to pay for it.

Having said all that I should follow that even in the time of vinyl an artist still had to build a fan base and following. Without a fan base there was not much value in the music. The real value is in the experience for the consumer.

If I love the band then I will want to support them by buying something from them. So maybe a coin that funds the artist is a good way to do that. I think my concern with the coin as DAC is the missing link that what is distributed now in music is often worth so little for the artists themselves that I can hardly see anything to share in that as a fan.

People use Lady Gaga or Katie Perry as examples. But I don't think those artists are having too much trouble
making the existing system work. The real challenge is in creating value for the independent artist. A way to make music unique and scarce. Though honestly I'm not sure I like the sound of what I'm suggesting since even that implies controlling the market in a way by NOT letting out music.

I hope that wasn't too scattered.

I look forward to hearing everyone's thoughts and ideas. Let's figure this out!

Sincerely loving music and hoping for great things for those who give their lives to creating it and those who listen.
Cheers!
Lij



Sent from my iPhone using Tapatalk

[donkeypong]

Check out what the Bitshares Music folks are doing via the video clip on Bitshares FB from the BY conference. I believe it is just a matter of time before this gets extended to sports, movies, American idols, you name it.

[masterofmyself]

So I got to thinking about how Arian Foster, star running back of the Houston Texans NFL team, recently announced he would have an IPO on himself for the average person to purchase stock in him, his performance on the field, advertising deals, etc. 

Bands could do the same thing, except they could crowd fund through the bitshares idea.  Those purchasing shares in the band would be supplying the band with capital to record, tour, buy equipment, etc., and would receive payouts as the value of the band grows. 

Also, those who purchase shares would have access to all music the band records, but maybe should be limited to those who own stock in the band.  Maybe set a low floor limit of shares that needed to be purchased to have access to the music (could be really small, since bands make more money off touring than actual music sells), but as you own more stake in the band, you get more access to band goodies, like discount live tickets, merch, etc., special access to live performance libraries, or even meet-and-greet opportunities. 

I think there would even be a way to preclude those who do not own stock in the band at all from accessing the music by implementing a private key/colored coin type of idea on the actual music files.  I'm not entirely certain how it could be implemented, as I only have a loose understanding on the smart property/colored coin ideas, but surely there is a way.  It would be important to

All of this could go hand in hand with a DAC that supplied the music, merch, tickets, and other goodies.  It would be a way that bands could essentially eliminate all middle men involved in the recording industry today.  All of the fees bands pay could now be substantially less, and instead of being paid to middle-men, could be paid straight to the bands supporters. 

I know this isn't a very technical explanation, but I think it can happen, and would like to be a part of the implementation if anyone thinks it can be done.

Thoughts?

[canuck]

very interested, I have several bands with our own material.

[bytemaster]

Ok... here's the deal, I want your site created and I want it to use my Radio DAC as the back-end. 

The act of uploading a song will automatically create a new coin type.  You don't need a whole new block chain for every song.   

If you can find a team and start building the website I would fund the backend DAC.   This is actually a great proposal for a Shark Tank competition. 

How do you tie the price of the coin to the value of the song?  You pay dividends from download requests.  You can have the songs available for literally $0.10 and 99% of the cost is paid to the owners of the song.   (All of the fans that are invested into the song).   

You combine your website with the radio station / juke box and you will have a viral system that could give Pandora a run for its money.

[cob]

i see a new thread's been created focused on your radio DAC idea.

So allow me to jump back a bit and take this thread to a slightly different niche.

I have a business idea, but I don't know how doable it is because of the whole, can musicians create their own coin thingy.

I would like to build a website (and mobile app no doubt) that would be kinda like youtube. Only just audio for now.

You can create a profile (your band, yourself as a singer, a podcaster, comedian, etc.) where you upload your audio content.
When people listen to your stuff, they could, like, share, follow just like usual, only now you could also "Tip" with crypto.
Nothing crazy so far. I mean, if youtube or soundcloub started adding tips it would eliminate the purpose of my site.
The button that would really change everything is the "invest" button.

Where you could invest in shares or coins of said artist.
They would be purchased throught bitcoin or whatever other crypto. So the site would be an exchange but a purely crypto based exchange, no fiat involved whatsoever. Way easier on regulation!

I think Something like this would be great for introducing the masses to all these concepts. Get your average joe to "buy stock" in something he's sure will be popular. "omg the new timberlake song!"

Music, it seemed to me, was the tip of the spear in the whole internet revolution. It's what go everyone to start filesharing, it's what started the P2P thing. Started the decentralization, get people to torrent stuff, etc.

If music can be what makes kids BUY their first stock (bankless baby!) at the age of 13, and sell it, trade it. That would be amazing.
The goal is also of course to make it super easy for anyone to just create a profile, and create their own coin/share to fund their aspiring careers.
And since Bitcoin is the reserve currency for these new coins, great for everyone. No dilution objections.

So there's my busiess idea.
An exchange website. No fiat.
THE place from music. all in high quality, uploaded by the artists, no copyright infringements, no ads (of course it COULD be added by the artist if he wished)
People could like, share, follow, tip, and invest in a song/artist.
incentive to get your music out for free.
incentive to SHARE new music to the world, not just out of altruism but out of greed and selfishness. (gotta harness the power of those human traits haha!)

I'm sure this could one day be a DAC too. Would put me out of business ahha but I think a website à la youtube would be great to introduce the masses to these new concepts and possibilities. Sort of a stepping stone. A site to bridge the gap.

What do you think?

The only thing missing (and it's a huge thing!), is the coin/share. I need to have a system where creating your coin is as easy as creating a facebook profile. All coins on the site would be identical copies of the other, only the name and logo would change.
Now, HOW oh HOW, would the value of it track the artist/song....
That's the question.

[bytemaster]

I would suggest a blockchain containing the hash of the song.  Then a content addressable database of songs.

I wouldn't have any limits on people freely downloading and playing it.  The point is that people pay to play music on a Juke Box... and fans of music would want their favorite songs played for everyone.   The blockchain performs this function of determining which songs plays in every time slice.

One block chain with accounting for all songs.

But say I play it on my ipod 100x a year. without it being connected to the internet.

Does the blockchain really need to know this info? The fact that the product was purchased would be enough no?

We are not attempting to control the distribution of songs or restrict people playing it or implement any kind of DRM.   So we must assume all songs are freely available to everyone to download and play, we just create incentives for people to actually BUY into the song that are not based upon restricting copies.

[bytemaster]

Let's say I wanted to start a music career tomorrow.
recorded a song. And put it out there.
How would I make an IPO out of this?

If we can figure this out. It can bring these ideas to the masses as much as napster took P2P technology us all.

Create a website where your song can be downloaded / promoted.   Download the wallet, pay to register your song in the block-chain by hash.   This will issue you 100% ownership of the song.  Then sell your shares via bids in the blockchain that can be accepted by your customers.   

Promote your song with all of your fans by encouraging them to buy into your music.  Money goes from your fans to you... the more you sell of your song the more viral marketing you get....

So you are sayIng to just have a premined altcoin? That the artist sells at the price of his choosing?
I could see that funding his career a la kickstarter, but what does the investor get out of this? What promise does he have in exchange. This would be a pyramid scheme no? Since the previous investor only depends on others wanting the coin/share afterwards. Bitcoin has value as a protocol. But this mybandcoin would truly be backed by nothing no?

All coins are backed by the markets expected valuation.  Now lets establish some things here that you missed:

1) All coins are on one chain, per-song not per-artist.   
2) This same chain would sport a juke-box function where people PAY to have their favorite songs played/bumped to the top.  Effectively, people and bands pay to advertise their music by having it played on any streaming radio station that choose to honor the blockchain playlist.... they would do this for ad revenue independent of the blockchain.
3) Anytime someone pays to have their favorite song bumped up in the playlist queue a dividend is payed to the owners of the song.

Conclusion: shares in a song earn you income proportional to the popularity of the song.   Thus songs are backed by their popularity and popularity is the measure of value held by a song.

I suspect you could add a 'dedication feature' to the blockchain and thus demand for songs suitable for dedication will be boosted by romantic types, etc.   

[bytemaster]

Let's say I wanted to start a music career tomorrow.
recorded a song. And put it out there.
How would I make an IPO out of this?

If we can figure this out. It can bring these ideas to the masses as much as napster took P2P technology us all.

Create a website where your song can be downloaded / promoted.   Download the wallet, pay to register your song in the block-chain by hash.   This will issue you 100% ownership of the song.  Then sell your shares via bids in the blockchain that can be accepted by your customers.   

Promote your song with all of your fans by encouraging them to buy into your music.  Money goes from your fans to you... the more you sell of your song the more viral marketing you get....

So you are sayIng to just have a premined altcoin? That the artist sells at the price of his choosing?
I could see that funding his career a la kickstarter, but what does the investor get out of this? What promise does he have in exchange. This would be a pyramid scheme no? Since the previous investor only depends on others wanting the coin/share afterwards. Bitcoin has value as a protocol. But this mybandcoin would truly be backed by nothing no?

All coins are backed by the markets expected valuation.  Now lets establish some things here that you missed:

1) All coins are on one chain, per-song not per-artist.   
2) This same chain would sport a juke-box function where people PAY to have their favorite songs played/bumped to the top.  Effectively, people and bands pay to advertise their music by having it played on any streaming radio station that choose to honor the blockchain playlist.... they would do this for ad revenue independent of the blockchain.
3) Anytime someone pays to have their favorite song bumped up in the playlist queue a dividend is payed to the owners of the song.

Conclusion: shares in a song earn you income proportional to the popularity of the song.   Thus songs are backed by their popularity and popularity is the measure of value held by a song.

[cob]

Let's say I wanted to start a music career tomorrow.
recorded a song. And put it out there.
How would I make an IPO out of this?

If we can figure this out. It can bring these ideas to the masses as much as napster took P2P technology us all.

Create a website where your song can be downloaded / promoted.   Download the wallet, pay to register your song in the block-chain by hash.   This will issue you 100% ownership of the song.  Then sell your shares via bids in the blockchain that can be accepted by your customers.   

Promote your song with all of your fans by encouraging them to buy into your music.  Money goes from your fans to you... the more you sell of your song the more viral marketing you get....

So you are sayIng to just have a premined altcoin? That the artist sells at the price of his choosing?
I could see that funding his career a la kickstarter, but what does the investor get out of this? What promise does he have in exchange. This would be a pyramid scheme no? Since the previous investor only depends on others wanting the coin/share afterwards. Bitcoin has value as a protocol. But this mybandcoin would truly be backed by nothing no?

[bytemaster]

Let's say I wanted to start a music career tomorrow.
recorded a song. And put it out there.
How would I make an IPO out of this?

If we can figure this out. It can bring these ideas to the masses as much as napster took P2P technology us all.

Create a website where your song can be downloaded / promoted.   Download the wallet, pay to register your song in the block-chain by hash.   This will issue you 100% ownership of the song.  Then sell your shares via bids in the blockchain that can be accepted by your customers.   

Promote your song with all of your fans by encouraging them to buy into your music.  Money goes from your fans to you... the more you sell of your song the more viral marketing you get....

[cob]

Let's say I wanted to start a music career tomorrow.
recorded a song. And put it out there.
How would I make an IPO out of this?

If we can figure this out. It can bring these ideas to the masses as much as napster took P2P technology us all.

[cob]

I would suggest a blockchain containing the hash of the song.  Then a content addressable database of songs.

I wouldn't have any limits on people freely downloading and playing it.  The point is that people pay to play music on a Juke Box... and fans of music would want their favorite songs played for everyone.   The blockchain performs this function of determining which songs plays in every time slice.

One block chain with accounting for all songs.

But say I play it on my ipod 100x a year. without it being connected to the internet.

Does the blockchain really need to know this info? The fact that the product was purchased would be enough no?

[bytemaster]

I would suggest a blockchain containing the hash of the song.  Then a content addressable database of songs.

I wouldn't have any limits on people freely downloading and playing it.  The point is that people pay to play music on a Juke Box... and fans of music would want their favorite songs played for everyone.   The blockchain performs this function of determining which songs plays in every time slice.

One block chain with accounting for all songs.

[cob]

I spent 4 hours in a car thinking about this very issue and this is what I came up with:

1) Every song needs to be its own mini-IPO that fans can invest in.  You literally 'buy the song' and thus get a cut of any value appreciation the song receives. 

2) Then you create a radio station where the playlist is selected as a decentralized jukebox.  Fans pay to have their song bumped up in the playlist for others to hear in the hope of increasing the value of the IPO.   

3) When a song makes it to the top of the playlist and is then played, part of the proceeds are used to pay a buy back and destroy some shares in that song (thus paying a dividend to the song owners).   

4) Get many different streaming radio stations to convert the blockchain playlist into a traditional radio station that anyone can listen to.


Bam... entirely decentralized radio station and profit center for artists.

This would depend on people buying the song though. People could still pirate it.
I guess it wouldn't matter that much since they can choose to pirate it, but not stand anything to gain if it goes big. The people that DO buy the mp3 would actually make a profit from investing in a song that grew in popularity.

OK I'm with you.

Now how could that be implemented? Every song is an altcoin? the mp3 can only be downloaded if you provide a private key?

The process has to be simple enough for non tech savy people to buy/invest in the song. So that means, no special programs required, no special players. The song has to be played on regular ass mp3 players.

What would you suggest? Care to elaborate?