Benji Rogers is an independent musician from London who has been making his own records since 1999. In 2009, Benji founded PledgeMusic, the leading international direct-to-fan platform offering artists a unique way to engage their fans in the music making process while interacting with a global audience of music super fans, resulting in chart topping albums worldwide. He is now working on the startup, dotblockchain, to establish a new file format for artists to incorporate music, virtual reality, rights management, and payment flows into a single and easy to use standard format.
- Direct conversation is the only way to create and sustain efficient and valuable relationships that benefits both creators and fans.
- Blockchain, or any innovation in the music industry, requires market incentives to come to fruition. The market incentive for Blockchain is not only efficiency, accuracy, and transparency of information; but also security and ease of monetization.
- Introducing a single repository for files governed by smart contracts, will not only allow for more monetization, but also allow anyone with an idea to innovate quickly, easily, and legally.
- In the next few years, artists will spend more time monetizing during the creation period, and less time administering material, because, once it is created, it will be easily accessible for anyone to purchase or license it seamlessly.
"So I would argue that that [the streaming site model] has been a catastrophic failure." In essence, they send everyone to a $9.99 streaming platform, in which they don’t know who the users are, the artist is completely separated from the process, and it has to grow its user base in order to pay back 70% of its revenue stream.