SOUNDEON
is a platform that will be enabling a renaissance within the music
industry for not just the fans out there but for the creators as well.
SOUNDEON will be enabling all aspects of the music industry to a higher
level of efficiency by having one platform to bring together everything
from purchasing a new single to arranging a concert. The latest in
blockchain developments have launched the availability of smart
contracts which have empowered SOUNDEON to be the one-stop platform,
removing not only unnecessary fees but many barriers within the current
music industry model as well.
The Problem & Solution
The
music industry is difficult to navigate, which makes it inaccessible
for most musicians. They must seek recognition from music producers,
managers, record labels and concert promoters who only partly address
the artists’ needs. Old ways lose their savour in the ever-changing
world and the music industry requires new solutions as well. These kinds
could guarantee equal opportunity for all. Soundeon — a pioneering
decentralized and vertically integrated music platform that covers all
aspects of the music industry. From the creation and copyright of a work
to contractual resale of both existing and future music assets to
concert organization and ticket sales, advances in blockchain computing
enabled us to develop the Creative Smart Contract (CSC) ™, a
self-executing media rights agreement that is the backbone to our
platform. Informational symmetry, immutability and agility of the easy
to use CSC™ inherently enhance fairness, transparency and trust, which
the media industry lacks.
Music
copyrights generated as much as $24.4 billion dollars in 2015. And that
is about $10 billion more dollars then the IFPI figure that excludes
publishing and song writing for the most part. Not only that, but live
ticket sales in 2017 brought in more than $32billio in main sales with
another $9.8 in resales. Both segments of ticketing are growing at a
5-year CAGR of 14 and 19 percent respectfully. Basically, tougher the
two elements of music present a major marketing opportunity that is
worth about $66.2 billion dollars.
Soundeon
is the solution the industry has needed, because the market is growing
at a consistent rate. The problem is that the musicians only see a small
fraction of the profits. It’s because at this time, there is almost no
legal rights for the musicians. And not only that, but the industry is
hard to navigate through, making it even harder for the musicians to
achieve success. They need to get clout with producers, managers, record
labels and anyone else you can imagine, like concert promoter for
example. Ticket scalping is another major problem that keeps occurring
and they’ve basically needed a solution, hence Soundeon.
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