YouTube Video
https://youtu.be/AqkjLwt0W2E
Speaker(s)
Brian Antar | Co-Founder & CEO | Hearo.fm
Andrew Antar | Co-Founder | Hearo.fm
Abstract
The music industry has been a long tale of technological disruption. From records to CDs to Napster to iTunes to Spotify, the emergence of new technologies enabled new modes of distribution and new business models. One common theme has remained throughout: artists never get a fair shake. With the emergence of blockchain and distributed ledger technology, a lot of speculation has swirled around how smart contracts can increase transparency and efficiency of rights attribution. While this might help the existing music industry improve their status quo of paying artists minuscule amounts per stream over 2 years late, I believe most are missing the bigger picture. The incumbent music industry licensing frameworks are designed to take the majority of the streaming revenue before it reaches the artists, and distributed ledger technology enables new business models for the long tail of artists to go direct to fan and cut out the middlemen. Hedera Hashgraph is the first technology platform that will enable truly seamless global micropayments for music streaming which can be deployed on an app at scale. With the perfect trinity of high speed performance, mathematically sound consensus, and virtually no transaction fees, Hedera Hashgraph is light years ahead of its competitors in both hard technology and governance structures. The groundbreaking potential of hashgraph is to revolutionize the music industry and democratize music distribution by disrupting the existing industry juggernauts. The ripple effect will be profound and the power will lie back in the hands of the artists.
Hedera for Music Streaming Micropayments | Hedera18
1.
2. HEDERA FOR MUSIC STREAMING MICROPAYMENTS
WHY HEDERA HASHGRAPH IS THE HOLY GRAIL FOR MONETIZING MUSIC STREAMING
ANDREW ANTAR
BRIAN ANTAR
OCTOBER 17TH 2018
5. Still room to grow in radio, live, developing markets
6. Master Rights + Publishing Rights
= hearo.fm artist hybrid license
7. GLOBAL MICROPAYMENTS
With virtually no fees, Hedera Hashgraph enables
borderless micropayments between artists and fans
making it possible for the first time to monetize
music streaming direct to fans around the globe
without high transaction fees.
8. LIGHTNING FAST
With unprecedented throughput speed of hundreds
of thousands of transactions per second per shard,
Hedera Hashgraph's unrivaled performance makes it
possible to process transactions from high volumes
of concurrent users without waiting for network
confirmations.
9. BANK GRADE SECURITY
Hashgraph's DLT (Distributed Ledger Technology)
utilizes a virtual voting consensus algorithm that
is PoS (Proof of Stake) and aBFT (Asynchronous
Byzantine Fault Tolerant), reaching consensus within
seconds with 100% certainty.
10. THE JAM TOKEN IS AN ERC20 UTILITY TOKEN FOR MUSIC THAT
WILL RUN ON THE HEDERA HASHGRAPH NETWORK. THE TOKEN
WILL BE FULLY INTEGRATED WITH THE HEARO.FM PLATFORM
TO PROVIDE AN ECOSYSTEM FOR DECENTRALIZED
CRYPTOCURRENCY MICROPAYMENTS TO ARTISTS AND FANS
FOR STREAMING AND CURATING MUSIC.
11. ARTIST & FAN REWARDS
JAM rewards creators and curators. Artists earn
tokens as creators when fans stream their songs.
Fans earn tokens as curators by reviewing music.
Artists can promote their music with tokens for
streams, and fans can earn tokens simply by
streaming music.
12. MICRO-INCENTIVE GAMIFICATION
Various different badges and reward levels will be hardcoded
to pay JAM token micro-incentives for both artists and fans
for signups, referrals, verification, song uploads, reviews,
playlists, and varying thresholds of streams, reviews,
engagement and trust.
13. DECENTRALIZED MARKETPLACE
Artists who are promoting new releases can purchase stream
minutes and review bundles from fans selling their provable 1st
time listening and critique. The price per stream minute is
denominated in JAM tokens and set by market supply and
demand.
14. Instead of a 1 size fits all subscription, fans can also purchase
streaming minutes with a pay what you want slider to spend on
artists they discover. Only the 1st stream of any given song per fan
can pay a reward and the next 9 streams payout to the artist,
unlocking unlimited free streams and digital ownership.
PAY WHAT YOU WANT FIAT ONRAMP
15. PROOF OF STREAM AUDIO PROTOCOL
Artists will get a proof of stream dashboard showing every second of
streaming of their music, the identities of their fans, volume and
microphone ping validation, and exact payouts of each stream. Fans
will also see exactly how much they are getting paid and paying out
to artists.
p = payout to artist
s = seconds streamed
j = US dollars per JAM
m = JAM per stream minute
16. CORE AUDIO TECHNOLOGY
Our backend audio file infrastructure is built to
seamlessly handle uploading, compression, streaming
and distribution of high fidelity audio master files. Our
system only accepts lossless, uncompressed masters,
ensuring against copyright infringement through
fingerprinting.
17. ARTIST CONTROLLED SPLIT
Artists collect 90% of all streaming revenue and can
control exact percentage splits of payouts to band
members, producers, engineers, managers, and
promoters. Labels and rights holders can also control
payout splits for content they own.
18. DEMOCRATIZING MUSIC
We enable artists to go direct-to-fan with our non-
exclusive hybrid license for streaming and distribution,
so we're cutting out the middle men and leveling the
playing field for artists around the world so we can
democratize access to music for all.
19. MUSIC DISCOVERY PLATFORM
hearo.fm is a fully featured music discovery
platform and social network. We will be
replacing the fiat marketplace with a fully
tokenized economy which will be
called tune.fm