Soundeon
The platform was developed to use blockchain technology to end the malpractices of song piracy and royalty collection as well as ticketing. They will be the world’s first vertically integrated and decentralized platform to be used to help connect the artists with the fans.
How Does Soundeon Work?
Music copyrights generated as much as $24.4 billion dollars in 2015. And that is about $10 billion more dollars then the IFPI figure that excludes publishing and song writing for the most part. Not only that, but live ticket sales in 2017 brought in more than $32billio in main sales with another $9.8 in resales. Both segments of ticketing are growing at a 5-year CAGR of 14 and 19 percent respectfully. Basically, tougher the two elements of music present a major marketing opportunity that is worth about $66.2 billion dollars.
Soundeon is the solution the industry has needed, because the market is growing at a consistent rate. The problem is that the musicians only see a small fraction of the profits. It’s because at this time, there is almost no legal rights for the musicians.
And not only that, but the industry is hard to navigate through, making it even harder for the musicians to achieve success. They need to get clout with producers, managers, record labels and anyone else you can imagine, like concert promoter for example. Ticket scalping is another major problem that keeps occurring and they’ve basically needed a solution, hence Soundeon.
Soundeon Features
The company will be a decentralized and vertically integrated platform focused around music. And it will cover every aspect of the industry. That goes from the creation of the work, the copyright and the sale of it, including concerts.
The system will be completely secure and transparent with the use of creative smart contracts.
The CSC of it will is a self-running media rights contract designed to help serve and manage most of the facets of the music industry, and keep it trustworthy, transparent and fair.
Soundeon is also attempting to bring the fans and stars together, so the relationships can be stronger and thereby hopefully get the fans to support them in the most ethical way possible.
There are really only five areas that need to be focused on most. The music token sale is a great opportunity for the artists to launch their own ICOs for the purpose of paying for personal projects.
The tracking of data for the purpose of royalty protection. They’ll be able to see all royalty streams and revenues that are out there and that includes from ticketing.
The decentralized tokenization tool and exchange will allow people to purchase royalty income with a great opportunity to build a diverse portfolio around it.
There will be a smart ticketing platform that is embedded in the Soundeon Environment. They will use smart contracts and QR Codes to completely eliminate scalping and piracy.
And lastly, there will be a Soundeon music player built with blockchain technology to help keep the distribution transparent.
Soundeon In Conclusion
The alpha version of the platform is already completed and will be released shortly in April of 208. The best version is said to be released in December of 2018 with the fully functional version launching in 2019. If you’re a fan of music, an actual artist or a producer, Soundeon could be the platform you’ve been waiting for. You can learn more at their company website soundeon.com.
How Does Soundeon Work?
Music copyrights generated as much as $24.4 billion dollars in 2015. And that is about $10 billion more dollars then the IFPI figure that excludes publishing and song writing for the most part. Not only that, but live ticket sales in 2017 brought in more than $32billio in main sales with another $9.8 in resales. Both segments of ticketing are growing at a 5-year CAGR of 14 and 19 percent respectfully. Basically, tougher the two elements of music present a major marketing opportunity that is worth about $66.2 billion dollars.
Soundeon is the solution the industry has needed, because the market is growing at a consistent rate. The problem is that the musicians only see a small fraction of the profits. It’s because at this time, there is almost no legal rights for the musicians.
And not only that, but the industry is hard to navigate through, making it even harder for the musicians to achieve success. They need to get clout with producers, managers, record labels and anyone else you can imagine, like concert promoter for example. Ticket scalping is another major problem that keeps occurring and they’ve basically needed a solution, hence Soundeon.
Soundeon Features
The company will be a decentralized and vertically integrated platform focused around music. And it will cover every aspect of the industry. That goes from the creation of the work, the copyright and the sale of it, including concerts.
The system will be completely secure and transparent with the use of creative smart contracts.
The CSC of it will is a self-running media rights contract designed to help serve and manage most of the facets of the music industry, and keep it trustworthy, transparent and fair.
Soundeon is also attempting to bring the fans and stars together, so the relationships can be stronger and thereby hopefully get the fans to support them in the most ethical way possible.
There are really only five areas that need to be focused on most. The music token sale is a great opportunity for the artists to launch their own ICOs for the purpose of paying for personal projects.
The tracking of data for the purpose of royalty protection. They’ll be able to see all royalty streams and revenues that are out there and that includes from ticketing.
The decentralized tokenization tool and exchange will allow people to purchase royalty income with a great opportunity to build a diverse portfolio around it.
There will be a smart ticketing platform that is embedded in the Soundeon Environment. They will use smart contracts and QR Codes to completely eliminate scalping and piracy.
And lastly, there will be a Soundeon music player built with blockchain technology to help keep the distribution transparent.
Soundeon In Conclusion
The alpha version of the platform is already completed and will be released shortly in April of 208. The best version is said to be released in December of 2018 with the fully functional version launching in 2019. If you’re a fan of music, an actual artist or a producer, Soundeon could be the platform you’ve been waiting for. You can learn more at their company website soundeon.com.
The music industry is an ever-evolving synthesis of creativity and business, an immense medium that reinvents itself to keep up with the times and absorb new trends. It generates billions of dollars every year and sometimes it is easy to forget that before all the record companies, music moguls, managers, agents and everyone else involved, stands the artist without whose creativity and hard work none of it would exist.
Today, it is clearer than ever how far the financial potential of the music business extends. Innumerable opportunities lie ahead and, as a result, the number of people seeking to commercially profit off of musicians has skyrocketed, while musicians’ earnings have dramatically fallen. The number of people seeking to commercially profit off of musicians has skyrocketed, while musicians’ earnings have dramatically fallen.
Breaking into the music industry might also seem daunting and even discouraging for many artists without industry connections. Nevertheless, it is also true that today, for the first time in history, artists have all the necessary tools, offered to them by the digital age, to pave their own paths to success without relying on others.
Music Market Volumes
Revenue in the “Music Streaming” segment amounts to US$9,574m in 2018;
Revenue is expected to show an annual growth rate (CAGR 2018–2022) of 6.7% resulting in a market volume of US$12,411m in 2022;
User penetration is at 24.7% in 2018 and is expected to hit 26.6% in 2022;
The average revenue per user (ARPU) currently amounts to US$7.56;
From a global comparison perspective it is shown that most revenue is generated in the United States (US$4,854m in 2018).
In-scopeSubscription-based (no advertising) or ad-supported unlimited access to music streaming services
Out-of-scopeInternet radio and video streams (e.g. YouTube)
Digital Music Market Volume
Digital Music allows customers to have permanent and unlimited access to music content. The worldwide revenue of US$11.2 billion in 2017 is expected to grow to US$14.4 billion in 2022;
Revenue in the “Digital Music” segment amounts to US$12,122m in 2018;
“Music Streaming” is the market’s largest segment with a market volume of US$9,574m in 2018;
User penetration is at 26.0% in 2018 and is expected to hit 27.6% in 2022;
The average revenue per user (ARPU) currently amounts to US$6.76.
In-scopeDigital audio content that is distributed to the end-user over the Internet;
Paid digital downloads of single tracks or albums/compilations;
Streaming services, both subscription-based or ad-supported.
Out-of-scopeInternet radio, video streams and audio books.
The streaming market is currently ranking in more than $5bn globally for the three major music groups — Universal, Sony Music and Warner, but the ratio of label income to artist income is approximately 4:1.
The most accurately encompassing figure cites within recorded music industry is that of the leading economist Will Page. According to Page, music copyrights globally generated $24.4 billion in revenues in 2015, that’s a whopping $10 billion more than the often cited IFPI figure that largely excludes publishing and songwriting income.
The worldwide revenue of online live event ticketing in 2017 was US$32.0 billion for primary sales and another US$9.8 billion for the secondary market. Both ticketing segments are growing at a 5-year CAGR of 14 and 19 percent respectively.
Blockchain and smart contracts represent the beginning of a new technological era that will give more financial power to music creators and help them track down their earnings.
Altogether, recorded music and ticketing presents a $66.2 billion market.
Regulators are trying to help musicians make their earnings transparent, but without the implementation of new technologies it is almost impossible. The US Copyright Royalty Board ruled that streaming services — Google, Amazon, Apple, Spotify and Pandora — would have to increase the share of the income they pay to songwriters and publishers from 10.5% to 15.1% during 2018–2022 years.
Blockchain and smart contracts represent the beginning of a new technological era that will give more financial power to music creators and help them track down their earnings. Moving contracts over to the blockchain will allow the artist to receive their royalty distributions in real-time, with every distribution recorded on a ledger.
Vadim Kurochkin, soundeon.com
Soundeon is the first decentralized and vertically integrated music platform that brings artists, software developers, producers, media executives, blockchain experts and countless others together into a single community.
New technologies within blockchain computing, such as the self-executing smart contracts, allow Soundeon to create a functioning, stable, secure, and adaptive environment to solve practical problems in digital media and ticketing.
Soundeon’s smart contract is the nucleus of a large ecosystem. Its versatility provides compatibility across platforms, wallets and exchanges.
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