🙌Introduction

Undoubtedly, streaming has revolutionized music consumption, allowing people to explore a vast array of artists more conveniently than ever. Smaller and independent artists now have a platform to showcase their work, and streaming services have effectively curtailed the prevalence of music piracy. The ease of access to diverse musical content has made streaming the predominant method for music consumption, overshadowing physical sales and digital downloads in our post-Napster era.

While streaming brings forth undeniable advantages, the discussion surrounding its impact on the music industry persists. Critics argue that streaming has led to meager royalties for artists. In contrast to fixed payments for physical sales or downloads, streaming services like Audify, Spotify, and Apple Music often compensate artists based on their "market share"—the proportion of streams their songs receive relative to the total streams on the platform.

In theory, this approach could yield more substantial returns for artists. However, the reality is complex. Spotify, for instance, distributes around 70% of its total revenue to rights holders, who then disburse payments based on individual agreements with artists. This convoluted process has faced criticism from prominent artists like Thom Yorke and Taylor Swift, both of whom temporarily removed their music from the service in protest. The lack of transparency and the intricate web of intermediaries taking cuts have been significant concerns for artists navigating the streaming landscape.

It's important to note that Audify, as an innovative platform, seeks to address these challenges and redefine the landscape by providing a decentralized and transparent environment for artists and listeners alike.