AUDIUS VS BEATiFY
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Industry Stake
The global music streaming industry was worth over $26 billion in 2019 and is expected to reach $47 billion in 2027. It points to a growth rate of 10% every year till 2027. Such a huge market is ripe for disruption, and that’s the market that blockchain streaming is targeting.
For perspective, NBA and NFL players earn at least 47% to 51% share of the NFL & NBA revenues. It shows that the music industry has lots of distance to cover compared to the likes of the NFL & NBA.
The large music conglomerates control the music industry, but unlike the old days, there is no need for a studio built with millions of dollars to create music. Today, anyone can create music with inexpensive music equipment and software in the comfort of their homes. Centralized music streaming began with an aim to rid the music industry of many of its legacy challenges. But they, too, came under the influence of the large music labels to sustain their business in the competitive music industry.
To show how BEATiFY stacks up against Audius, one of its competitors, we've created a chart below comparing various dimensions.
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Philosophy |
Believes that the current state of the music industry hasn’t done anything good for the artists. |
Also believes that the current state of the music industry hasn’t done anything good for the artists and that blockchain will revolutionize content streaming. |
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How does it work? |
Uses blockchain technology to enable secure music streaming. Removes the middleman from the music industry and connects fans directly to the artists. It allows the fans to pay directly to the artists. |
Also uses blockchain technology to enable secure music streaming. BEATiFY also removes the middleman from the music industry and connects fans directly to the artists. It allows the fans to pay directly to the artists. All that artists have to do is distribute their music tracks through the BEATiFY platform, and the fans will pay to hear the music tracks on the platform. |
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Who is in control? |
Audius is a music streaming service where music creators have full control over the distribution, monetization, and steaming rights over their music tracks. |
Is music streaming ecosystem. BEATiFY gives the power back to the music creators, fans and investors. With BEATiFY music creators have full control over the distribution, monetization, and steaming rights over their music tracks. |
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Where to buy it? |
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Fair-trade included? |
Currently has no fair-trade model to support artists in emerging economies or direct payment per stream. |
Supports the fair-trade model to help artists around the globe get paid and increases artist market exposure. |
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Artist payments |
Depends on your interaction and platform contributions, i.e sharing/liking not on actual streaming numbers. |
1:1 payments. Stream > Payment - Based on fan listening. Extra credits for liking, sharing, fan rewards, interactions etc. |
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Growth potential |
$AUDIO today trades at $1.21, a fantastic price with projections as high as $2 by 2022. |
$SONG is trading at .017, an absolute STEAL with price projections at $1.50 by mid-2022. |
Conclusion
Both Audius and BEATiFY are amazing music streaming platforms, and both are far and away better than the legacy system currently in place. They drive the movement supporting the future of music streaming - one in which musicians are fairly compensated for their work and can live off of their art!
