Irfan Aulia — an Indonesian musician who now runs Massive Music Entertainment — unveiled a blockchain platform to collect data in the music industry, from copyrights and labels to commercialization management. The project was made possible through Massive’s collaboration with the state-run Creative Economy Agency.
The project’s announcement was made during the 5th Annual UNCTAD eCommerce Week in Geneva, Switzerland, on April 4th. Project Portamento is set to launch in 2020, allowing artists and managers in the Indonesian music industry to monitor online usage of their music, in order to manage royalties.
As digital revenues now account for 54% of the music market worldwide, online revenue has become one of the key income streams for musicians and others in the music industry.
“Data is gold in the digital music world,” Aulia said. “My company’s success depends as much on mining data as it does on finding good music.” He explained that the project uses blockchain, a decentralized, immutable, and transparent platform, to keep track of the metadata in the music industry.
According to Aulia, “By matching and commercializing the database, the metadata, we believe the Indonesian market for copyrights will increase over five to 10 years. Basically, we are creating our own big data which will be accessible to all users. This is actually the goldmine”.
The music industry is ripe for disruption. Many have pointed out that as almost all music is now online, a system — such as a blockchain-powered platform — should be in place to ensure producers and musicians benefit from their work.
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