RECORDIAN Whitepaper
Last updated
Last updated
Recordian is a decentralized Web3 music streaming platform designed to empower artists by addressing the everyday challenges they face, which cost the music industry billions annually. Using blockchain technology, Recordian provides a transparent, artist-centric platform that ensures higher payouts per stream, full content control, and access to detailed analytics, allowing artists to make data-driven decisions.
With a music streaming app and features like an artist distribution portal, NFT Music Marketplace, and Ad Studio, all powered by the $RMUSIC token, Recordian revolutionizes music distribution and monetization, creating a fair, transparent, and engaging ecosystem for artists and listeners alike.
In the music industry, artists and fans face a growing number of challenges that demand our attention. Artists struggle with the complexities of fair compensation, lack of revenue transparency, limited content control, and reliance of middlemen. Meanwhile, fans suffer from high costs, limited access to exclusive content, and the loss of a deeper connection with artists that once thrived before the digital era.
In 2021, the global Music Industry recorded an impressive increase of 18.5% in sales from the year before, reaching a total of $25.9 billion. The data showed that the growth was driven by online streaming. The number of subscribers rose from 443 million in 2020 to 523 million by 2021.
In March 2022, data showed that streaming accounted for 65% of all music revenue. However, the revenue distribution model remains a cause for concern. Artists often receive minimal compensation for their work, as a significant portion of streaming revenue goes to major labels and middlemen.
The lack of transparency and fair compensation undermines the long-term sustainability of artists' careers, making it challenging for artists to gauge the impact of their work and make calculated informed business decisions.
Concerning artists pay outs from streaming royalties the Soundcharts team in 2019 came up with these figures. (soundcharts.com/blog/music-streaming-rates-payouts)
Spotify paid the artists $0.0032 per stream
Apple Music got the average rate of $0.0056
Google Play Music landed a $0.0055 payout rate
Deezer fell slightly lower at $0.00436
Streaming payout rates
The payout rate will always be in constant flux, due to the inconsistent variables such as, who streams your music, where they stream your music from, and how many times they stream it.
The reliance of middlemen for artists to upload their music onto streaming platforms also poses significant challenges and limitations within the music industry. This has resulted in further loss of content control, as artists cannot create their artist profiles and directly upload their music, edit, or even take down content at will. Moreover, these middlemen often introduce problems, delays, and additional costs that hold back artists' ability to reach their audiences effectively.
We believe it is our collective responsibility as music enthusiasts, industry professionals, and technology innovators to advocate for transparency and fair practices in the music ecosystem. By doing so, we can build a future where artists are valued, creativity thrives, and the beauty of music enriches our lives.
These challenges highlighted prior present the pressing need for solutions, and Recordian is the transformative force addressing these challenges, revolutionizing the music industry.
To empower artists and foster a more equitable industry, it is crucial to explore innovative solutions that remove unnecessary third parties and allow artists to retain greater control over their music and its monetization.
Recordian has created a revenue distribution model that focuses on transparency. Using immutable smart contracts, the platform ensures that royalty payments are automatically sent to artists upon claiming, guaranteeing timely compensation for their valuable content, removing unpredictable changes in streaming payments, and the need for middlemen, who usually reduce the artist's earnings. This revenue distribution model ensures all artists get compensated at a higher rate, no matter how popular they are or if they are signed to a label. Our music streaming platform allows artists to create personalized profiles and upload their music directly onto our music streaming app, bypassing the traditional gatekeepers and middlemen that often limit their artistic expression and earnings. By providing this direct access, we enable artists to maintain complete control over their music, its distribution, and the revenue it generates.
Using the artist portal, Recordian provides artist analytics and insights into their audience, demographics, earnings, and streaming performance. Artists can access reports, empowering them to make data-driven decisions, target their marketing efforts effectively, connecting with their fan base on a deeper level. This transparency enables artists to understand their audience's preferences, explore new creative avenues, and refine their artistic strategies.
Furthermore, by incorporating the listen2earn feature on the music streaming platform, Recordian empowers fans to become active participants in supporting artists. In turn, listeners are incentivized to engage with the music they love, boosting artists' exposure and revenue. This creates a win-win situation where fans not only enjoy their favorite music but also can earn unique rewards and directly contribute to the success of their favorite artists.
Recordian’s NFT Music Marketplace allows artists to create and sell Music NFTs, which are a game-changer for artists, offering a new era of opportunities and empowerment. They allow artists to create unique digital items that show ownership and authenticity. Music NFTs enable artists to retain greater control over their intellectual property and monetization of such. Artists can once again offer exclusive, limited-edition releases, collectibles, and one-of-a-kind experiences directly to their fans fostering a deeper connection.
The Recordian Ad Studio provides artists and brands with a powerful tool for increasing awareness of their music, and products. With this user-friendly and cost-effective platform, artists can run targeted advertising campaigns directly on the music streaming app, boosting their visibility, engagement, and revenue.
In our strong commitment to transforming the music industry, Recordian is dedicated to building the ultimate decentralized music streaming platform. It's a space where artists, fans, and industry leaders can connect and thrive. Driven by a passion for music and a clear vision, we aim to create a better future, where artists have the freedom to create without limitations.
“The Future of Music is RECORDIAN”
