AdAge asked me to write an Op-Ed for their Music Issue that went live this past week and I decided to cover Blockchain, one of the most interesting topics of 2018.Music has always been a leader in culture. Not only through artists (the most dynamic and charismatic creatives you can imagine), but with the sound itself, which travels fast. This was the first industry the digital revolution decimated and we now have a chance to be a first mover in reinventing ourselves with blockchain.Let's look at two major challenges facing the music industry:1. Lack of transparency (in payment, tour history, royalty rates, streams per payment). Getting paid in the music business is complicated, from the way royalties work on recorded music to how much money is paid on streaming versus radio airplay, to how many tickets an artist is worth and his or her overall price per performance.2. Artists owning their relationships with customers. In regards to sales, artists do not know who their consumers are. They have no idea who is actually buying their music and neither do their record labels. In addition, thanks to Ticketmaster, they have no real data on who is buying their tickets.Blockchain, in theory, can help solve both of these challenges. This technology stands for something revolutionary: bringing the power back into the people's hands, empowering artists and fans to directly transact. When the music industry starts adopting more alternative cryptocurrencies, it will empower artists and take transparency to a new level by allowing them to disintermediate the middlemen (labels, retail stores, streaming platforms and others) and become their own whole ecosystem. In addition, by applying the technical breakthroughs of these networks, we can effectively organize data about music for the first time in human history, and more importantly, reinvent the way artists/rights-holders get paid and value themselves.Furthermore, with all of the excitement in the space, every CEO at this point has a fiduciary duty to their boards and investors to look at how their potential business model can grow on the blockchain. I honestly have been thinking about it more and more, and I love the space’s potential.You can read the full piece here——Ps: Today kicks off the 10th anniversary of Social Media Week and it’s also the Tribeca Film Festival in NYC this week. Here are the music and tech panels you should know about:Tribeca Film Festival: Blue Note Records: Beyond The Notes (Movie Screening) Tribeca Talks: Future of Film with Alex Da Kid and the Intersection of AI & Music at SVA 3pm on WednesdayTribeca Talks: Master Class on Sound and Music Design for Film at SVA 4pm on Friday Social Media Week: Panel: How Instagram Became The Music Industry's Go-To Social Platform" Tuesday at 12:15 pm - 12:55 pm Sheraton New York Times Square Hotel - Stage 3 PPS: Finally on Friday night, I’ve been asked by my dear friend Franck to be on the host committee for a charity event at his Ping-Pong club SPiN. Taking place in the VIP room from 8 to 10pm and featuring Tequila donated by DOBEL, Super Star DJ Ana Boo and the amazing Duda Louro will be performing beautiful Brazilian songs, it should be a great night.I'll be there all night. Come hang out with me on FriYay night and support a great cause at the same time.
BEATS
Blockchain? More like RockchainBlockchain stands for something revolutionary: bringing the power back into the people's hands, empowering artists and fans to directly transact. When the music industry starts adopting more alternative cryptocurrencies, it will empower artists and take transparency to a new level by allowing artists to disintermediate the middlemen (labels, retail stores, streaming platforms and others) and become their own whole ecosystem. (Jesse Kirshbaum – AdAge)
How This Startup Is Finding Millions in Unclaimed YouTube Revenue For Artists and LabelsCreate Music Group bagged $30 million In 2017 -- plus a platform with 17 million teen fans. Marshmello earned eight figures in 2016, and "when artists are having that type of success, it's extremely hard to convince them that they are missing out on a large amount of revenue," says Create Music Group co-founder/CEO Jonathan Strauss, 31. (Nick Williams – Billboard)
Blockchain Startup Soundpruf to Pay Artists AND Fans for Spotify Streams Using Cryptocurrency We’ve heard about some intriguing music-focused blockchain startups in our time, but Soundpruf is taking a new spin entirely on the intersection between cryptocurrencies and music. “Soundpruf will offer a web/mobile software application, built on blockchain technology, that aggregates every user’s music listening portfolio and pays both artists and listeners in cryptocurrency for every streaming session (via Spotify or other streaming provider),” claims its profile on investment site AngelList. (Musically)
The Vayner/Maverick Music Content Project will build artist-driven content programs and develop partnerships for brands. One of the biggest managers in music is joining forces with one the best-known voices in branding, digital marketing and audience development to change the way artists and brands collaborate. (Dave Brooks – Billboard)
Nipsey Hussle Breaks Down His $830K Cryptocurrency InvestmentsNipsey Hussle makes sure to live up to his name. The Los Angeles native has made a name for himself through his tireless indie grind, culminating with the release of his first studio album, Victory Lap. However, while Nip is on his victory lap it's safe to say that the hustle never stops. The rapper posted a photo on his Instagram account of his cryptocurrency investments letting his followers know what the deal is with cryptocurrency game. The photo showed Nip's crypto investment portfolio worth upwards of $800K accompanied by the caption. (VladTV)
How Internet Producers Took Over Mainstream Hip-HopProducers like the Martianz used to be internet curios, far removed from commercial juggernauts like Brown. Occasionally the two worlds merged together, as when Kanye West included a lengthy snippet of Desiigner’s “Panda” — made from a beat purchased online for $200 — on The Life of Pablo in 2016. (Elias Leight – Vulture)
Tencent Music Setting Stage for Giant IPO in U.S.: ReportSpotify's successful debut on Wall Street appears to have other music companies eyeing a similar path. Tencent Music, the digital music arm of China's most valuable company, Tencent, is reportedly taking steps for an initial public offering later this year. (Billboard)
At Coachella, Brand Activations Are Starting To Matter As Much As MusicThe Coachella festival, with marquee 2018 headliners like Beyoncé and The Weeknd, is a music fan’s paradise. Coachella is also something else, and something almost as important: One of the biggest annual scrums for the advertising industry. The celebrity endorsers, the social media influencers and the Instagram-friendly experiences that dominate advertising in 2018 are all coming to the music festival. (Neal Ungerleider – alist Daily)
New Footage Of Prince's "Nothing Compares 2 U" Receives One Million Views In First Day On YouTubePrince first wrote “Nothing Compares 2 U” as a track for one of his side projects, The Family. The song appeared on the group’s sole album, which came out in 1985, but received little fanfare until 1990, when O’Connor’s cover emerged as a global hit. Now, fans of the song can rediscover the original version of it thanks to the new video, which features Prince and his band. In its first day on YouTube, the footage received more than one million views, thus restating Prince’s status as a beloved musical icon. (Sam Gutelle – Tubefilter)
BYTES
Bob speaks with the Head of Strategy, UTA[IQ] at United Talent Agency, Kendall Ostrow, about working with artists to achieve their personal and professional goals leveraging the power of digital and social media. She shares her story of starting in radio, launching The Ellen DeGeneres Show on social media, venturing into the agency world, and displaying her dedication to constant innovation and improvement at each step of her career.
The official trailer for the 2017 documentary that the follows the rise, fall and return of the late EDM DJ, Avicii, from his successes to his health scares.
Blockfolio offers complete Bitcoin and Altcoin cryptocurrency management, with easy to use tools to keep track of all your crypto investments. Get detailed price and market information for individual currencies and your entire portfolio all in one place.
Jaden Smith's friend and MSFTSRep member, Mateo Arias (a.k.a ¿Téo?) have been quietly dropping interesting records on SoundCloud and Youtube for the past few years. He started making bigger waves after the release of his first official track "Uno Dos" featuring Jaden Smith. Now, ¿Téo? is back with "Palm Trees" a smooth reflective song showcasing his versatility and potential. Excited to see what's in store for him. – Maria T.
This week's newsletter was carefully curated by the Nue Agency staff and our editor Maria Tejada If you think we missed something this week or have any suggestions/comments for next week's newsletter, let us know!