By Claire Moraa
- Snoop Dogg is partnering with a Web3 blockchain streaming platform to give artists more control of their revenue
- Streaming platforms offer artists between 60-70% of their total revenue generated
Snoop Dogg is definitely a Godfather in the music industry and beyond because his catalogue keeps expanding. Aside from his numerous businesses, he is now dipping his toes in Web3 where he has just released a new track Spaceship Party and hopefully a new album under a new blockchain streaming technology–Tune.FM. These efforts are aimed at bringing transparency in compensation and giving artists more control of their revenue.
Why This Matters: The streaming industry as is is doing well with 5 trillion streams recorded in 2024–a 14% increase from the previous year. However, some artists never get a share of this cake. In fact, Snoop himself had a billion streams on Spotify and only got $45,000. If the big dogs get pennies, think of the underground artists. This partnership with Tune.FM will be a game-changer for the music streaming industry especially in terms of compensation. Snoop is the perfect candidate because his iconic brand will be combined with innovative blockchain technology.
Tune.FM promises to deliver a new model for artists and fans. Its decentralized nature with non-exclusive licensing agreements will provide musicians with better control over their royalties and direct interaction with their audiences, challenging the traditional streaming platforms that take hefty cuts. With the middlemen out of the way, artists will get to keep 90% of their streaming revenue which is four times more than what traditional streaming platforms have been offering. For Snoop, this partnership strengthens his reputation as a forward-thinking entrepreneur while revolutionizing how music is consumed and monetized. With music revenues projected to hit $100 billion by 2031, it’d be a shame for artists to contribute to this growth and not to get their rightful share.
Situational Awareness: Tune.FM is challenging giants in the industry but with promises of artist autonomy, a fairer compensation model, and more control over their work, it could be what is needed to reshape the future of music streaming for both artists and fans.
CBX Vibe: ‘Drop It Like It’s Hot‘ Snoop Dogg, Pharrell Williams
