The Currency of Creativity: Exploring Music Royalties
Keywords:
Music Royalties, Streaming Platforms, Major LablesAbstract
The analysis highlights disparities in music streaming compensation, regional regulatory variations, and challenges with data accessibility. Major labels dominate, while independent artists struggle for fair compensation. Initiatives for equitable revenue sharing are more prevalent in industrialized nations, impacting diversity and fair compensation globally. Emerging technologies like blockchain offer potential revenue sources, but regulation lags. Recommendations include democratizing data access, promoting diversity, and empowering artists. Collaborative strategies are needed to address regional challenges and support equitable compensation. Ensuring fair compensation and diversity throughout the music value chain is crucial for a vibrant and inclusive music ecosystem.
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References
1. Indian Copyright Act, 1957.
2. Copyright (Amendment) Act, 2012.
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