how to solve the music metadata challenge
Post on 14-Apr-2017
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WHAT IS ITPaperchain provides the music industry with a standardised data layer for accurate, transparent metadata collection, storage and reporting.
The rise of music streaming
$1,450m
$1,868m
$2,407m
$2,823m
$2,575m
$2,328m
$2,445m
$2,251m$2,024m
STREAMING DOWNLOADS PHYSICAL
2013 2014 2015
Source: Statista
The rise of streaming
Source: Statista
Audio Streams
Video Streams
Vinyl Album Sales
CD Album Sales
Digital Album Sales
Digital Track Sales
+97.4%
+28.6%
+11.5%
-11.6%+18.4%
-23.9%
Total on-demand music streams
2016201520142013
49.5b 70.3b 131.6b 208.9b
The rise of streaming vendors
THE PROBLEM
Royalties
● From 2012-2014, streaming services misallocated or failed to pay $100 million in royalties
● 10% of music is made available in digital stores without publisher or administrator knowing
User subscription fee Stream song Identify song
Track useSubscription fee % paid to platform
MUSIC STREAMING ROYALTY COLLECTION PROCESS
Rest of fee goes to artist & publisher
No transparent agreement of royalty allocation between artist, publisher and platform
Royalties
User subscription fee Stream song Identify song
Track useSubscription fee % paid to platform
MUSIC STREAMING ROYALTY COLLECTION PROCESS
Rest of fee goes to artist & publisher
No transparent agreement of royalty allocation between artist, publisher and platform
It’s not that they don’t want to!
● During a 10 month period, Spotify paid Victory Records royalties only 79% of the time
Metadata
● Song credits provided to streaming platforms and royalty collection societies can be inaccurate, outdated
● Lack of transparency in credit listing & royalty arrangements
Artist: Katy PerrySong title:FireworkComposer/(s): Esther Dean, Katy Perry, Storleer Mikkel Eriksen, Tor Erik Hermansen, Sandy Julien Wilhelm
Publisher royalties:Downtown Music — 14.1%Peer Music — 25% Sony/ATV — 33.34% Ultra Music — 2.5% Warner-Chappell — 25%
Artist: Jenny BlockSong title:Guess Where I’m From?Composer/(s): Jenny Block, ???, ???
Publisher royalties:Record A — ???%??? — 25% ??? — ???%
Collection & reporting
● Metadata database for streaming services are in platform silos
● Data formats and royalty reporting different across platforms and delayed
Paperchain
● Paperchain becomes a standardised data layer for metadata storage and royalty reporting
● Records can be updated & corrected
● Transaction ledgers available to royalty collection societies in real-time
PAPERCHAIN ON ETHEREUM
Artist:Song:Composer(s):
Publisher(s):
Royalty split:
Artist:Song:Composer(s):
Publisher(s):
Royalty split:
Metadata contracts
● Metadata contracts on public or private blockchains
● Contracts include artist, song, composer, publisher, royalty split and any other statements Artist:
Song:Composer(s):
Publisher(s):
Royalty split:
Artist:Song:Composer(s):
Publisher(s):
Royalty split:
Artist:Song:Composer(s):
Publisher(s):
Royalty split:
Artist:Song:Composer(s):
Publisher(s):
Royalty split:
● Once metadata is validated by network nodes, stream is allowed and transaction is recorded in block ledger
● Transaction data made available for reporting in real-time
Song: A
Paperchain validation process Song: A
User requests song. App makes metadata call to Paperchain.
Transaction added to block ledger.
New block is added to existing chain.
Paperchain nodes validate metadata.
Validation returned to app.
Song plays for user. Transaction ledger sent to royalty societies.
Contract validation
● For nodes to validate contract, metadata from streaming platform must match metadata on Paperchain
● Incorrect data rejects validation and disallows stream
Song: A
Song: A
User requests song. App makes metadata call to Paperchain.
Transaction added to block ledger.
New block is added to existing chain.
Paperchain nodes validate metadata.
Validation returned to app.
Song plays for user. Transaction ledger sent to royalty societies.
APP METADATA PAPERCHAIN CONTRACT
SUCCESSFUL CALL
Artist: ABCSong: DEFComposer(s): GHI, JKL
Publisher(s): MNO, PQR, STU
Royalty split:Artist—xx%Composer(s)—xx%
GHI—xx%JKL—xx%
Publisher—xx%
Artist: ABCSong: DEFComposer(s): GHI, JKL
Publisher(s): MNO, PQR, STU
Royalty split:Artist—xx%Composer(s)—xx%
GHI—xx%JKL—xx%
Publisher—xx%
Artist: ABCSong: DEFComposer(s): GHI
Publisher(s): MNO, PQR, STU
Royalty split:Artist—yy%Composer(s)—xx%
GHI—yy%JKL—xx%
Publisher—xx%
Artist: ABCSong: DEFComposer(s): GHI, JKL
Publisher(s): MNO, PQR, STU
Royalty split:Artist—xx%Composer(s)—xx%
GHI—xx%JKL—xx%
Publisher—xx%
UNSUCCESSFUL CALL
Royalty reporting
● Blockchain provides transparent record of every transaction
● Royalty societies sent performance data in real-time
● Data can be exported and queried
TRANSACTION LEDGER BLOCK
BLOCK ADDED TO EXISTING CHAIN
SALES DATA SENT TO ROYALTY SOCIETIES
MARKETING PAPERCHAIN
Competitive landscape
Online store
Media library
New media format
Royaltycollection
Competitive advantage
● Standardised validation data layer for meta data—not focused on building digital library
● Growth does not hinge on adoption of new codec● More agile as do not have and will not require database storage of media
file● Adds value to streaming platforms, aggregators and collection societies● Solves a specific purpose
GROWING PAPERCHAIN
Partnerships
● Connect with streaming platforms
● Connection points for royalty collection societies
● Partner with independent stores for automated Paperchain contract creation
Diversify
● Ideal platform for filmmakers, visual artists, writers, ecommerce
● Accuracy and transparency of royalty arrangements offers opportunity to find new payment models for creative workers
Publishing
● Provide independent artists with a simple, self-publishing platform
● Allows artists to transact directly with audience
● Artists can write rules of sales (amount, metadata, royalty split)
● Security of data and transactions
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