Music enthusiasts and passionate patrons back up and support all kinds of music genres and support and back up the budding and vintage artists and musicians to keep up their talent and expertise. They act as lifelong patrons and help a lot to keep up the music genre alive and flourishing universally. However, a realistic and constructive survey has displayed that many music patrons and buffs use cryptocurrency to support music and musicians.
The Survey by eMusic Store
eMusic was launched in 1998 and is globally known for being one of the pioneer websites to sell DRM-free MP3 music recordings. A survey executed by the pioneering digital music store eMusic displayed that most of their patrons and customers were in agreement paying with crypto if it permitted artists, performers, and musicians to earn more. The survey results also showcased that 65% of eMusic clienteles would use cryptocurrency if it was for the betterment and motivation of the musicians. It is important to note that a meagre 8% of the target audience had used Bitcoin or any other crypto in previous times. The Survey also displayed that about 65% of eMusic patrons would use cryptocurrency if those permit musicians to receive a promising music revenue portion.
Survey data analysed by eMusic revealed that approximately 40% of music enthusiasts overrate the number of royalties that musicians receive when their music is bought or telecasted. Nearly 87% assumed that a “decent and impartial share for the performers would be a higher value, with the most popular reply being a perfectly half divide between the marketing company and the artists.
The survey report published in May by the International Federation of the Phonographic Industry exhibited that music streaming enhanced music profits to over $20 billion in 2019. Still, an analytical breakdown by Soundcharts, the popular music news website, evaluates that artists are paid only $0.00318 per streaming session.
The Role of eMusic in Providing a Fair Platform
The pioneering eMusic is raising a devolved music distribution arrangement to lessen the cost of ineptitudes and link the performer’s pay with their music purchase. Which means, more their fans and patrons purchase and stream their music; higher is their royalty. This gives them a fair and unbiased podium to showcase their talent and earn unswervingly from it.
The idea of offering an impartial and fair-minded platform to all musicians have helped eMusic to earn a lot of accolades, respect, and acclamation from the various music niches. It is indeed a great platform to motivate musicians and rejoice their exceptional talents.