Since 2009, when eBooks and book piracy became a phenomenon, income for full-time authors has declined 42 percent, according to Rasenberger, with the median income from writing now so low — just $6,080 a year — that poverty level looks like the mountaintop.
Now that Warner Music Group has mastered streaming, generating $2 billion in revenue from the technology, the music giant behind Cardi B, Ed Sheerhan and Bruno Mars has set its sights on blockchain, joining an $11.2 million investment in Dapper Labs, best known for making the viral blockchain game, CryptoKitties.
It’s an interesting concept that is catching on – opening the doors for virtually anyone to get in on movie investments. Typically, only big players in the industry and institutional investors have been able to put their money into Hollywood flicks for a piece of the profit, but the introduction of blockchain-based investment funds will be a game-changer.
Canadian artist Esthero has found a novel way to make her views known about streaming royalties. One minute and 37 seconds in to ‘Gimme Some Time’, she interrupts the music. “Hello there, sweet listener. So, I really hope you’re enjoying my song. This is Esthero by the way. But I hope you’re enjoying it enough to go over to www.esthero.net… and purchase the uninterrupted version,” she says.
Social video platform Vid secures investment from blockchain platform Ontology Public blockchain platform Ontology has made a strategic investment in Vid, a social video platform slated to launch this year. The details of the investment have not been disclosed.
LCX announced today that it has entered a partnership with Dr. Wesley Snipes to tokenize a $25 Million USD movie fund, investing in upcoming motion picture and television shows produced by the famous actor and his production studio Maandi House. The goal is to launch a fully regulated tokenized security.
Patreon is eyeing a range of new services to support creators — including potentially providing loans, CEO Jack Conte said. Conte, speaking at Variety’s Entertainment & Technology Summit in L.A., said Patreon is considering ways to provide capital funding and other financial services to artists, as well as services like health insurance and HR support.
Virginie Berger’s DBTH Capital has raised an initial round of $38.55 million. The VC fund’s strategy is to invest in companies in media and music rights tech including blockchain, AI and rights infrastructure. The funding came from 9 unnamed investors and the fund is now merging with one of its anchor investors, a US family office with $5 billion in assets.
WUNDER has completed the first digital art-backed assets transactions using the Patron Protocol on blockchain technology. The ING Collection in Amsterdam purchased one of the first fractional ownership shares, representing 12,5% ownership in a master copy from the video art work by the Romanian artist Dragos Alexandrescu.
Last week, Eminem’s publishing company filed a lawsuit against Spotify alleging that the streaming giant has been generating revenue from some of the Detroit rapper’s biggest hits without properly licensing them. The suit speculates that if the company failed to pay royalties for a song like the chart-topping “Lose Yourself,” then smaller publishers probably weren’t paid properly either.