Digital transformation, blockchain, and the music industry: A review from the perspective of performers’ collective management organizations

Alberto Arenal, Cristina Armuna, Sergio Ramos, Claudio Feijoo and Juan Miguel Aguado

Telecommunications Policy, 2024, vol. 48, issue 8

Abstract: This study examines the challenges related to the music industry's digital transformation and potential role of blockchain from the perspective of collective management organizations (CMOs). Building on desk research and primary data from semi-structured surveys conducted with C-level executives and managers, this empirical analysis identifies major projects, their state of development, and prospects for digital transformation based on blockchain in the music industry. The findings reveal that there are a limited number of blockchain projects led by and/or with the relevant participation of CMOs. However, most are just research projects, proofs of concept, or pilots, showing that blockchain is currently in an experimental phase of development on the periphery of the music industry's digital transformation. This is not very different from analysts' understanding of the current situation and perspectives on the mass adoption of blockchain in other industries. In summary, blockchain is neither at the core of the music industry's digital transformation nor a priority for CMOs leading this process from the perspective of intellectual property rights management. The limited quality of music metadata, sparsity of sound data sources, and absence of a common data governance framework among different stakeholders within the industry are the main impediments to transforming blockchain into a global solution with transformative potential. Overall, the results provide a snapshot of the current status and possible future trajectories of blockchain adoption as a paradigm for intellectual property rights exchange within the music industry.

Keywords: Digital music ecosystem; Digital transformation; Blockchain; Collective management organization; CMO; Music industry; Music metadata; Music performers; Copyright; Music royalties (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1016/j.telpol.2024.102817

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