Did you know that the average American listens to four hours and five minutes of audio every single day? This is broken down into broadcast radio (52% – visualize on screen, don’t read out loud), owned music like CDs, Vinyls and music downloads and more (20%), streaming services (12%), satellite radio (8%), podcasts (2%) and others like audiobooks (2%).

With audio consumption extremely accessible to most people, it is no surprise that the music industry is worth $57B.

With so much money floating around the music industry, one might be safe to assume that musicians are drowning in cash.

However, the hard truth is that it is brutally hard for most musicians to make money in the streaming era. It is estimated that the average, working musicians make a gross salary of $30,200 a year. The average American wage for 2022 is $53,490. Artists get paid fractions of a penny per stream, and plenty of artists make nothing at all.

What if crypto had the ability to change that?

On today’s CoinMarketCap episode we dive deep and explore the intersection between crypto and music:

1:32 – The Streaming Era
02:23 – Ticket Scalpers and Resellers
04:01- NFTs Are the Technological Tour de Force Driving This Revolution
04:47 – But What Are Music NFTs?
05:09 – What’s the Difference Between an NFT Music Store and the iTunes Store?
05:39 – How Are Music NFTs Better for Musicians?
10:11 – What Are the Top Decentralized NFT Music Platforms?
10:50 – Audius
12:34 – Arpeggi Studio
13:42 – Nina

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