One of the leading banks in the USA Bank of America in a recent report decentralized music streaming platform AudiusExamined the effects of .
in the report AudiusIt was emphasized that ‘s traditional music platforms transfer their power over the industry to the artists.
“Audius is changing the balance in the music market. Power, profit and control are moving from labels to artists and fans.”
Audius set out for exactly this purpose in October 2020. The aim of the platform was to shift the balance of power and profit from record companies and digital service providers to artists.
In Audius, 90% of the revenues are received by the artists, while 10% is distributed to the nodes.
In the report of Bank of America, it was stated that projects such as Audius could change the balance in the music industry in the long run.
According to the report, the music industry Audius It is ready to deteriorate in the face of decentralized platforms such as Audius, but in the short term, the adoption trends and limited music offering of Audius delay this deterioration. In the long run, it seems very likely that the traditional music market will shift in this direction.
In the note, it was also reminded that there are legal risks due to Audius’ inability to solve some copyright problems.
Audius faced a $6 million hack last Saturday.
*Not Investment Advice.