As the music industry moves towards Web 3 technology, artists, NFT makers, and new companies have the potential to increase their revenue and better connect with their fans. However, at Brego, we hope these companies don’t forget the importance of including music promoters and distributors in their revenue sharing model.
By cutting them into the equation and properly compensating them for their services, we can ensure that everyone in the music industry can benefit from the opportunities presented by Web 3. For example, artists and Web 3 companies can offer music and music-related products on their websites, such as exclusive merchandise, VIP experiences, and limited-edition recordings. Additionally, they can partner with music promoters and distributors to offer exclusive discounts to fans or create special streaming packages that are only available through a particular promoter.
This would give promoters the chance to tap into a wider base of customers, while earning a portion of the revenue generated from their sales. Overall, by working together, Web 3 companies, artists, promoters, and distributors can create an ecosystem that is beneficial for everyone involved. Not only does this provide increased revenue for all parties, but it also helps to create a more connected and engaged fan base.