- As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens will likely help artists grab back their fair share, Saxo Bank predicted.
- Saxo Bank cryptocurrency analyst Mads Eberhardt argued that mainstream music streaming platforms such as Spotify and Apple Music take a substantial cut, which, together with the cut paid to labels, is some 75% or more of the total revenue.
- At the time of writing, SPOT is trading at $229. In the meantime, Spotify’s revenues have been steadily growing over time, reflecting much potential for NFT-based music platforms to disrupt.
[Via]
