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A digital music store known as eMusic must join the vast array of companies that implement blockchain in their business.
Announced on July 31, eMusic plans to raise $ 70 million through a public presale for its own digital service in September. of this year. The $ 70 million goes to building a decentralized music distribution platform and a royalty management system.
eMusic is not new to the music streaming game. More than 1 billion downloads of a catalog of more than 26 million songs have been accumulated in 20 years. eMusic has more than 47 million loyal fans who they believe will participate in fundraising for the new platform.
This new blockchain platform plans to offer artists a friendly site to publish and distribute their music and manage their rights. royalty fee. Visibility and transparency are a priority for eMusic. Once their music is played or sold, it will be split evenly between the service provider and the rights holders, showing games vs. payments. The ability to withdraw their earnings whenever they want is another option.
Tamir Koch, CEO of eMusic talked about his vision and the state of the music streaming industry:
"For two decades, eMusic artists and their fans. Today's supply chain for music is broken.While streaming has allowed anyone to listen to virtually any recorded song at any time, its economic aspects financially paralyze the most vital element of the music ecosystem: artists and service providers are losing billions and struggling to stay alive.Most fans do not realize that this is the only way to save money. is an unsustainable future with fewer artists and fewer suppliers. "
eMusic also plans to launch a crowdfunding platform in the future to engage fans and raise funds for musical projects
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