Music Business

In many industries, the incentives aren’t aligned.

Some parts of the industry have adapted to the times and others are stuck in the past.

I can only speak to my experience and the music industry is a perfect example of this.

https://www.iq-mag.net/2024/05/germanys-melt-festival-to-close-after-27-years/

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Live industry veteran in Asia.
Founder; bringing live entertainment on-chain with all-access.io 
 

It flipped it on its head.

Live shows used to be promotion for an album and that’s where the artist would make most of their money.

Now Spotify is the promotion and the live shows are where the money is.

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That’s why at @allaccessio we’re trying to solve this because the way things are working isn’t sustainable.

By using NFTs we can create a layered experience. Not only can it give like-minded people access to a community, but it can go deeper than that.

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Fans can get access to their favorite artists, be involved in the creative process of events or with artists, and be motivated to engage and promote with unique rewards that they actually value.

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It simply enhances the fan experience and our industry is one of many examples of where this applies.

Event organizers, can go straight to the source and try to get rid of the cash flow problems they’re facing.

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This can be done through preselling tickets and improved access to fans, fan feedback can help them build the right sets and book the right artists to ensure success, and they can offer perks that don’t necessarily cost them anything, but are priceless to fans.

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This level of connection and communication with a fan hasn’t been impossible until now and NFTs play a big role in that.

There are ways to change the industry and make it sustainable again.

If we don’t try new approaches soon, too many festivals will go out of business.

(8/8)

But the event organizer’s business model doesn’t support this sudden change. They’re now incurring more costs and artists are demanding more money. 

Which drastically decreases profits and even leads to many events making a loss.

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