Digital scarcity is necessary to create a unique user experience and enable fans to form longer-lasting and more profound connections with their favorite artists. As it stands, there is nothing truly unique about music on Spotify — tracks don’t come in limited editions, music connoisseurs are not able to get their hands on rare album releases, and Spotify lacks a scarcity system.
Source: Online content streaming is dead. Long live the music NFTs
Nonfungible token digital arts may be the latest crypto craze, but the real-deal mass-market use case for the technology is far from the auction houses. Software licensing and authentication seems like one of the areas where NFTs will shine, given enough time, with the bonus of possible interoperability. Corporations and individuals alike could shop for licensed software pieces on a single platform, leasing it for as long as needed.
Source: NFT art will never be mass-market — NFT licenses may be
In each key area of technology—semiconductors, storage, handheld devices, video displays, test equipment, etc.—funds to launch and grow the tech titans came from the entertainment industry, and especially the music business. Hollywood studios and record labels would dominate high tech today if they had simply brought R&D in-house instead of sending so much cash to Northern California.
Source: How Music Created Silicon Valley
The coronavirus closures prompted many theaters around the country to experiment with online offerings. Now, even though theaters have reopened, a new Broadway play is planning to try streaming some performances. Second Stage Theater, a nonprofit that operates a small Broadway house, plans to sell a limited number of real-time, virtual viewings in January.
Source: Live Theater Is Back. But a New Broadway Play Will Stream, Too.
The platform enables fine art enthusiasts to own “some of the world’s greatest masterpieces” by collectively participating in the art market via the ‘Particalise’ process, which involves splitting art into 10,000 unique NFTs, or ‘Particles’. The ‘Particalise’ process means that each piece has its title deeds stored on the Blockchain, with buyers receiving a digital certificate, or collector’s card, to represent their ownership of the painting.
Source: NFT marketplace Particle makes bid to revolutionize ownership of fine art
Non-fungible tokens (NFTs) are taking the music industry by storm. Several marketplaces have sprung up offering pieces of artwork, golden tickets, and more – all sold as an NFT. But one man questions the idea of NFTs and if buying a digital piece of a blockchain really proves ownership when anyone can ‘right click’ and save a picture.
Source: Are NFTs a Scam? Hacker Uploads Every NFT to ‘NFT Bay’
The e-book format has opened up the opportunity to reach more readers, creating inclusivity for those who have been previously challenged in engaging with physical books. E-books have many devoted users and their relative cost-effectiveness to produce and distribute is an important component of every publisher’s growth strategy for the foreseeable future.
Source: Accessibility and Digital EPUBs
The uptake of blockchain technology in the media has been slow, with less than 10 per cent of publishers making it part of their strategy. However, a recent report by INMA shows how blockchain could help publishers and how they could begin experimenting with the “potentially industry-changing technology.”
Source: Tip: Why publishers should take blockchain seriously
The recent controversy surrounding the mistranslations found in the Netflix hit “Squid Game” and other films highlights technology’s challenges when releasing content that bridges languages and cultures internationally. Artificial intelligence (AI) and machine learning (ML) are highly anticipated answers to this problem, but neither has reached the point of replacing the human localization component.
Source: Solving entertainment’s globalization problem with AI and ML
Music companies are thrilled that streaming has become reliable revenue. Now, they’re considering what comes next — including the metaverse. The metaverse picks up where streaming leaves off. WMG CEO Stephen Cooper described the difference between traditional streaming and the metaverse in terms of interactivity. With traditional streaming, labels and digital service providers push music to listeners, and listeners pull the music they want to hear.
Source: Streaming Is Reliable Revenue, So What’s Next for Warner Music and Other Labels?