How Blockchain Could Enable Fan Owned Streaming

Fan-owned streaming networks based on blockchain might soon cause another significant change in the entertainment business. These services have the potential to be owned and run by the artists and fans that use them, unlike the big companies of today. They offer fairer compensation for authors, new methods for fans to get involved, and stronger business models by using blockchain’s decentralization and transparency.

Ownership that isn’t centralized

Companies run traditional streaming services. Fan-owned platforms, on the other hand, give users a say in who owns and runs the platform. With blockchain-based currencies, both fans and artists may vote on regulations, features, or how material is moderated. This makes the ecosystem more democratic since the people who create and use content contribute to developing the service.

Resonate, a music cooperative, and Audius, a decentralized music platform, are two examples of companies that are already using this method. The goal is to make sure that platforms expand in line with the demands of their communities, not the interests of stockholders.

More fair pay through openness

One of the central promises of blockchain streaming is that it would make revenue sharing clear and automatic. Smart contracts are programs on the blockchain that run themselves and can automatically distribute money amongst artists, labels, and donors when certain conditions are met. A public ledger can track every play or purchase, so developers know precisely how much money they make.

This might entail much greater rewards. Audius, for example, sends around 90% of its money to artists and curators, whereas musicians usually only earn a small amount of money. Payments come quickly, not months later.

Fans as Active Participants

Fans on these sites do more than listen. They may get privileges, voting rights, or even a part in future success by holding tokens or actively sponsoring initiatives.

Some platforms also let people work together to curate. For example, Tamago utilizes playlists created by fans to discover good music and rewards curators with tokens or items. Some people let fans pay for new ventures by giving them royalties or unique material. This makes the connections between producers and their viewers deeper, ensuring that material is shaped by real demand instead of top-down gatekeeping.

New Ways to Do Business

Blockchain streaming makes it possible to come up with new ways to combine the finest parts of streaming and ownership. Resonate’s “stream-to-own” strategy allows people to pay for each stream until they own a song completely. Some platforms are experimenting with tokenizing songs, albums, or movies as NFTs to create limited-edition collectibles that may generate revenue in innovative ways.

These models provide fans new options to support their favorite artists while also collecting digital items related to music, movies, or even behind-the-scenes events. For artists, it means finding other ways to make money without subscriptions or ads.

Power of Resilience and Community

Fan-owned platforms don’t have the single points of failure that corporate services have, since they function on decentralized networks. At the same time, community members make the decisions regarding what material to preserve or delete.

Why It Matters

Fan-owned, blockchain-based systems provide several benefits:

Fairer pay: Artists are paid quickly and retain more of their money.

Open ledgers: Provide visibility into where money is allocated, which is beneficial for transparency.

Giving fans power: Fans get benefits, a say in decisions, and a share in success.

Community curation: Content discovery is based on what actual fans like, not just algorithms.

Resilience: It’s difficult to restrict or shut down decentralized networks.

A More Fair Future

Although these streaming platforms are still a new concept, their potential is clear. As blockchain gains traction and decentralization becomes a focus across various industries, concepts such as decentralized streaming are likely to grow popularity.