Start of our journey
Rhythm and Beats
Artists, especially musicians, are being underpaid for their work. They get the smallest share of revenue while they do most of the work. Musicians in the US received just 12% of the revenue from their music in 2017, as research by Citigroup Global Perspectives and Solutions shows. Artists lose a most their money on the fees of various distributions companies and copyright being owned by their record label, often paying an additional cut to separate publishing companies.
Rhythm and Beats will change this by cutting out the middlemen, establishing a direct connection between creators and fans. New artists can now easily monetize their new singles, albums and tracks using our platform. All tracks can be sold in the form of a Non-Fungible Token (NFT) and payments to artists will be in the form of $BEATS. Rhythm and Beats will take 0% commission.
The diagram below shows a simple revenue stream of royalty revenue distribution in the music industry. Most songwriters will hire a publisher. The publisher’s job is to find users for the song, issue licenses for the song, collect royalty payments and pay the writer for the song’s use. Typically, a publisher keeps 50% of the song royalties (called the “publisher’s share”). The remaining 50% is passed on to the songwriter (called the “writer’s share”). The producer is left at the mercy of publishing companies and the songwriters themselves to receive their share of revenue.
We want to empower artists and producers with the Rhythm and Beats platform, by establishing direct connections and monetization options. We cut out the need to give away precious copyright ownership and royalties to publishers and record labels.
Detailed Royalty Payment Flows by Service, Royalty Type and Type of Record Contract
Direct-to-fan platforms like Patreon are on the rise and make up for an increasing amount of an artist’s income. From the Survey done by Peter Di Cola for the Northwestern University School of Law we see a reported increase in the significance of all forms of online retail. We also see a 34% positive response on “Fewer middlemen”, a number which we seek to increase with our platform. We will enable artists and producers to monetize their content directly amongst each other.
10% of proceeds from the presale will be donated to 3rd world country charitable institutions all over the world. All donations will be posted on our social media channels for transparency. You may also track and verify the donations as we will post the institutions which will receive donations from Rhythm and Beats presale.
$BEATS have an automated redistribution feature to reward HODLers. There is a 6% TAX FEE on every transaction in our ecosystem. Half of it is automatically distributed to HODLers in proportion to their $BEATS holdings. The other 3% is automatically burned making $BEATS tokens deflationary.