Wish This Wasn’t True BUT…. (ARTISTS MUST KNOW)

Curated By Ralph

Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

Hey what's going on guys it's will Hopefully you're having a great day Today we're live if you're enjoying the Live sessions let me know down in the Comment section if you want more of them A lot of times they're pretty uh ill Prepared and we're just jumping into Something in the industry uh so if That's okay with you guys and you're Okay to break down something today that Is going to make a huge difference to Know as an artist then Stay tuned so getting into before I get Into the video and I actually share what We're going to be diving into today I Wanted to first touch on two things if You are an artist a producer a singer a Songwriter and you are learning how to Monetize your music more efficiently Then make sure to go down and click on The free group where you can surround Yourself with like-minded artists who Are all working to monetize their music More efficiently so if you want to learn About what works and what doesn't work For those of you that don't know who I Am my name is Will and I have a YouTube Channel here where we talk about some of The best ways to monetize your music Market your music and make a difference In your life and others by taking your Creative Outlets to the next level and So number two that we're going over Number one

That we just went over uh which was uh That if you haven't joined that Facebook Group go down there it's called future Artists check that out number two There's the three keys to music nfts Down below so we're going to be talking About new technology we're going to be Talking about new ways to actually Monetize your music But These new ways are not very well Explored uh in today's world they are Well exported if you're in the right Niches in the right pockets and you're Getting the structured learning that you Need for example going to events is Great but if you're learn if you're Really wanting to know about some of the Technology that's making a massive Difference in the music industry as of Lately then I encourage you to go check Out the three keys to music nfts down Below so let's get into it here I have An awesome article for us today It's by the New York Times and we always Talk about basically that If you're getting your music out on Streaming If you get a thousand streams you're Only going to be getting one to three Dollars per 1000 streams One dollar to three dollars per 1000 Streams means you put in all of your Marketing let's say to get 10 000

Streams or a hundred thousand streams or A million streams And that could uh really eat up your Profitability as an artist in the music Industry if you're getting less than a Penny Per stream so this is something we see Here it says a business of pennies and Fractions of pennies And these are some of the complaints uh That leave artists basically struggling To make ends meet by putting out Creative content that's really good and Consumed by millions of people and yet They are not getting anywhere close to Millions in revenue or profit And There is a way out there is something We're going to talk about today that Could be a solution for you if you're an Artist an independent artist a label or Someone that is in the music industry Working to implement ways to monetize More efficiently Before we get there this is something That we need to see it says 83 percent Right so 83 is with Spotify Apple music Streaming services from Amazon title Deezer these are all the places uh that You would distribute your music these Are all the places that if you take a Distributor like CD Baby tune core or uh What's another one distro kid and you go Ahead and you distribute and it goes to

All these platforms Right so you do your distribution Making up 83 percent of recorded Revenues in the United States okay and Spotify Which now has 356 million users around The world including 158 million paying Subscribers paid out more than 5 billion To music rights holders in 2020. Now this sounds great this sounds good Right but when you factor in how many Songs are being put out and the 158 Million subscribers times 15 bucks and Then you say okay that number times 15 You know we're definitely in the Billions if not above this number and Then you'd start to see Um that what they're paying The the money that they're making is Greater than what is being paid out And the Heart of musicians critique and I just want to read this last part and Then we'll actually do some narration Here but the heart of musicians critique Is how that money is distributed Major labels after Contracting painfully For much of the 2000s are now posting Huge profits yet not enough of Streaming's bounty has made its way to Musicians activists say and the major Platforms model tends to over reward Stars at the expense of everybody else So in other words Stars are getting paid significantly

More Than non-stars And even so those labels that are Collecting for the stars are not paying Out to the Stars It's nothing new in the music industry Here Um but the reason that I'm putting this Article out there and that we're going Over this article is because while it's So easy to see that an artist doesn't Make a lot of money putting their music Out on Spotify It doesn't mean that it should be the Norm for all artists that are starting Their music career or in their music Career and looking to make a living from Their creative uh Pursuits And there is a law and this the reason There's so much backlash about labels And abouts the music industry and not Paying fairly is for one reason I'll Tell you what it is it's the most Important rule to know as an Entrepreneur as a business owner as a Musician as an artist as anything in Your life it's the most important rule To know when it comes down to economics And that's what we're talking about here Economics of streaming and music Is that You will be paid in direct proportion To Your service

In direct proportion to your value if You build a million dollar a year skill Set you're going to get paid a million Dollars a year and if you of course There's different places that you can be In the world and you know Economics in different parts of the World but the general rule is you become More valuable and you'll be paid in Direct proportion to your value your Service If I go and I decide to only do fast Food working and I'm working at McDonald's I'm only going to be paid to That of how replaceable I am And I'm only going to be getting getting Paid that much and the same thing goes For if I can make a company a million Dollars then I'm going to be paid in Proportion to my value and they're going To pay me not maybe a million dollars But significantly more because I'm able To make them this much so as your value Increases so does your contribution and Your contribution Is in direct proportion to what you will Be paid and so the problem with the Music industry is that so many times Artists have a major contribution of Making a lot of Music That's consumed by Many and impacting so many people and Millions and millions of people listen To the music yet there is not a Significant contribution being paid back

To the artist Now sometimes the artist doesn't know How to collect royalties sometimes they Don't know how to go and Get all of the sync licensing done or They don't know how to register their Song on Sound Exchange or collect Royalties but even if you do all those Things you're still gonna find that the Royalty rate is Significantly Significantly lower than that of the Amount of work that was put in to make That music So Why am I sharing this well something is Changing massively in the music industry And this is something that really Will change everything about your Artistry about your music that the way That you offer your music and that is The blockchain technology that's being Used for artists to offer their music on The blockchain Now one thing that's so important to Realize is that with every new Technology there's going to be a boom And a bus there's going to be an up and A down and there's going to be people That come for good reasons because they Want to use the technology and there's Going to be a lot more people that come To take advantage of this new movement And that leads to a lot of people that

Are taking advantage of a lot of scams And frauds And that's exactly what we saw with nfts With crypto is that so many people came And really utilized the technology for Good and if you go to some of the events And got to see some of the technological Advancements uh on the front of the Industry in the blockchain you'd say hey This is really good but if you didn't go To those events and you didn't see what People are developing on the blockchain How they're doing it then you would say Nfts or the crypto is a scam and Everybody that's talked to me about it Had no other intentions than to show me Uh how I could make a million dollars in 10 seconds and it was totally a lie Right What I'm going to share with you here is That You can actually offer your music Rather than only on Spotify take that Same music that you have on Spotify and This is something that we've talked About a lot because There's not any other reason to be Looking into this other than how can I Get paid in direct proportion to the Music that like we talked about how can I get paid in direct proportion to my Service Well here we are if I take my music and I put it out on Spotify as I normally

Would But then I also take that song and I put It out as an nft and there are 10 copies Of that song 10 editions of that song Available Then what's going to happen A few things are going to happen I'm Going to first see that the 10 copies at let's say 50 each If I sell one of those which would be Fifty dollars and someone gets a Collectible of the song an edition of The song that they can hold verified on The blockchain and that they could Resell or be a part of my career uh with By buying my music as an nft That fifty dollars is worth The equivalent Of 50 to 150 000 streams On streaming services I sold one nft for 50 and it got me the Equivalent monitor value of 150 000 streams on Spotify or on streaming Why is that so powerful and why would They buy it well guys something we talk About on this channel all the time is That you can fractionalize the ownership Of your music and something that we see Here and and what it says it says music Streaming doesn't pay Can the industry change Now there's also a few articles around

Here that says how can artists benefit From blockchain technology and if you Really dive into it this article I had Opened a minute ago I don't know if I can get it open still Let me see Here Perfect all right so And you can see I was actually trying to Dissect this article as using chai gbt I Said bullet point is what is going on Here in this article it's condensed and And I wanted to ask him I want to say What's going on with this why does this Work and what is is the whole purpose of This and basically what we found is that Artists like we've seen with Justin Bieber with Rihanna many different Artists Um Maroon 5 Linkin Park they put out Their music as nfts and they say if you Buy this nft you're going to have an Unlockable piece of content that's going To be worth As much as you put in so if you bought My nft so Maroon 5 did this you buy Their nft you get a percentage of the Streaming of the royalties that are paid So if there's 10 editions of the song That are available as nfts and each nft Is 10 percent Of the royalties Then when that song streams and it plays And makes

A million dollars Ten percent of that is going to go to Each nft holder proportionally and each Nft holder would get a hundred thousand Now to me like we said it's still kind Of broken because hey if you get a Million streams or a million dollars how Much you got to get a billion streams to Get a million dollars that's going to Take a lot of money and streams don't Pay right So this is where you can do Collectibles Offer unreleased versions of your songs Offer lifetime tickets or limited access Tickets to your music and these are all Things that we like to cover on this Channel if you want to learn how to Offer your music as nfts then I'd Encourage you to check out some of my Other videos as well as the three cues To music nfts down below and The reason I bring this up guys is Because we're making sure we're saying How can we make sure That artists are going to be paid more And that you're going to get what you're Worth for the work that you put in to Your music how can we make sure that Happens what is the thing that you have To do and this is a new technology That's come about and that has made a Difference for considerable amount of Artists I mean lots of artists that Enter the music nft space are seeing a

Totally different type of support Whether it's monetary that's much Greater than any other streaming Revenue They've ever generated or it is Community support and having people that Maybe get their nft or their collectible Of their song for very cheap amounts Maybe even free but that those people Are now incentivized to take part in That artist's career and now they want To grow that artist career because if The artist makes more money then the Collectors can make more money because If the artist is growing then the Collection could be worth more in the Future and those are all things that Really support the growth of music and Any duration By using the blockchain and it might Sound really Advanced for some of you Guys and you might say well that sounds Crazy where do I even start and I would Say if you're just getting started I Would head all I would head on over to a Marketplace where you can take your Music and put it out as an nft see if The algorithm picks it up but The algorithm is usually not enough I Would also say share it with your Friends your family your your fans and The people that are listening to music And say Here's a way to support me and Own a digital collectible of my music And when you own it you get access to

Limited edition of my song where you get Access to any of my concerts in the Future or maybe you get access to an Exclusive group that's not available to Anyone else other than the holders of my Nft that's really cool and these are the Types of things that artists are doing And I don't think you necessarily even Have to refer to it As an nft or as a blockchain crypto or Anything like that uh with the Marketplaces that are available today You put your music out as a collectible And your music is collectible on the Blockchain yes it's verifiable yes it's A non-fungible token but really what You're doing is just giving your fans Your supporters a way to support your Career and pay more for your music and Get more out of your music because like We said if you're providing more value Then you're going to get paid more You're providing more than just the song You're giving artwork something that They can buy and have a piece of your Career by holding on to it maybe it's Streaming royalties that they get paid Or maybe it's also unreleased version of The song stem tracks of the song over Your Beats and those are all things that Really make a big difference for why They would want to buy Your Music

As a collectible So for those of you guys that would like To learn about the music nfts on a daily Basis with myself I'd encourage you to Go check out three keys to music nfts Down below And I definitely will get some more Articles out here for you guys to be Able to dive in and learn a little bit More about space thank you guys so much For watching and I'll see you in the Next video

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