Audio Network?s head of product Matthew Hawn explains why blockchain technology has the potential to become a game changer for the music industry.
Designed with independent artists who want more control over the ownership of their music in mind, a new funding model is trying to shake-up the music industry. And given that British artists contribute over £4bn to the economy each year, the disruptive potential is not to be sneered at.
Britain's music industry contributed £4.1bn to the UK economy in 2014, helped along by the global success of stars such as Ed Sheeran and Sam Smith – the voice behind the song for new James Bond film Spectre.
American rock band Linkin Park has brought on board a "creative business executive" to help its move towards global brand partnerships and venture capital, with music taking a back seat.
New figures released by the BPI said that UK artists accounted for one in seven of the albums sold worldwide during 2014.
With Paul McCartney topping the Sunday Times Rich List of musicians with his £730m fortune, and only five of the top ten names dabbling in the business world, it shows that the music industry really is, as the government suggested, the "poster boy" of British exports.
Yesterday at the Brit awards a competition was unleashed between Sam Smith and Ed Sheeran about who would be taking home the most awards, not to mention Madonna's minor falling mishap. Undoubtedly, however, with UK artists such as Royal Blood, One Direction and Paloma Faith riding high on the charts, it's easy to see why the music industry has become the “poster boy” for British exports.
The rapper and Voice judge Will.i.am is set to launch a new tech device: a round-face smart watch. Part of the native software will be an app from British firm 7digital.
Online music services and the UK's creative sector will be able to trade more easily across Europe thanks to a new EU directive.
A new scheme will help Britain's independent music firms gain a stronger international foothold.