Revolution in music. How would one go about 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?

[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.

[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



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