The Music Industries and Blockchain Technology

Abstract

This thesis has its research focused on blockchain technology and the music industries. I will further access in depth what blockchain is, and how it’s currently being used in the music industries. Additionally, I will question the future prospects of blockchain technology in the music industries, and its compatibility with traditional music industry copyright laws and structures. The objective is to clarify some of the confusion about blockchain and its sustainability, scalability, drivers, and barriers. I view this as important questions to answer in order for people in the music industries to better understand both what blockchain is and whether it has a place in the music industries. The key findings from this research are that there are three different factors that implicates blockchain adaptation on an industry wide scale: 1) technical difficulties and data quality, 2) practical issues with current industry structures, and 3) geopolitical and domestic politics and regulations. Nevertheless, if we look away from the top-down perspective and look at a bottom-up perspective, the story changes. For artists, musicians, and smaller music companies, blockchain can provide great opportunities for niche streaming services, rights management and registration and audience interaction.