At the Proof of Talk 2024 conference in Paris, Serio Mottola, the CEO of Music Protocol, advocated for integrating blockchain technology into the already established billion-dollar music industry.
The music industry is at the beginning of a profound transformation, as the rise of streaming services is changing the way music is consumed.
According to data from Forbes earlier this year, music streaming accounts for 84% of total music industry revenue - surpassing $17 billion annually (IFPI).
However, streaming isn’t the only digital tool changing how the music industry operates. Web3 tools like blockchain and tokenization are slowly shifting possibilities for artists, fans and distributors alike.
