The digital era has ushered in transformative advancements for the music industry, with technology reshaping how artists create, distribute, and profit from their work. From streaming platforms like Spotify and YouTube to AI-driven tools and social media, technology has empowered musicians to reach global audiences and enhance creativity. In 2023, global recorded music revenues rose by 10.2%, driven largely by the success of streaming services. However, with this growth comes the challenge of ensuring creators remain central to these platforms. Without prioritizing fair compensation and creator needs, there’s a risk of repeating past industry pitfalls, such as exploitative contracts or diminishing trust in platforms.
For tech solutions to thrive, they must actively collaborate with creators to design tools that address their needs and offer transparency, fair compensation, and educational resources. Examples like Spotify’s Direct Artist Payouts and SoundCloud’s Fan-Powered Royalties highlight the importance of equitable revenue models. Tech platforms also benefit from creator-driven engagement, as artists fuel user activity and platform growth. By fostering collaboration and respecting the contributions of creators, the tech and music industries can build a sustainable future that supports innovation, loyalty, and mutual success.
Click here to read the entire article on Reptroir