Seven20 And Their Mission To Build A New And Equitable Music Industry
The music industry’s treatment of artists has been a hot topic for quite some time. There has always been a disparity between a musician’s contributions to their art, and how much they’re paid. The standard was set by the large record labels where artists needed them to be seen and heard. The reliance of artists on labels is not the case any more, but the disparity in fair pay still remains.
Tackling the issues that the music industry faces is no small task, but it’s one that Seven20 is attacking head-on. Seven20 is a global artist management enterprise building a new and equitable music industry through ground-breaking technological innovation. Their ecosystem includes internationally recognized talent, global brand partners, and pioneering technologists, all striving towards a greater future.
An equitable music industry is one where, first and foremost, artists get paid equitably and fairly for what they’ve created. In most industries the artist or creator get’s the biggest reward for what they created. Look at the booming creator economy for example. Creators are benefiting from brand deals, advertising, fan payments and even more opportunities. All of these opportunities are facilitated by platforms that enable these creators to monetize their work directly. The same can’t be said for musicians.
Seven20 is solving this problem by putting the artists interests first and utilizing technology to their advantage. Blockchain, NFTs and AI will all play a role in fostering unique fan/artist relationships. By utilizing this technology the artist is able to sell directly to their fans. It unlocks unprecedented opportunities where artists are able to hold on to their IP and collaborate with fans, provide new unique experiences and integrate into new ecosystems.
They’re striving towards a world that fosters genuine community around musicians. Not just fandom, like we have now, but genuine community where the artist has a relationship with their fans. One where the fans can feel a part of their favourite artists journey and possibly even benefit from their success.
The artist can sell pieces of unreleased music to their fans, making a lot more money than relying on streams. The fans now have ownership of these songs in the form of digital assets, while the artist holds on to their IP. This opens up a whole new world of opportunity. Fans can create and remix these songs or stems into their own versions and sell them. They make money and the original artist gets a cut. If the artist grows in popularity the value of their previously sold assets will increase in value, benefitting all holders too.
These are just a few examples of what’s possible when you shift the focus from big conglomerates winning, to everyone winning. It’s possible to live in a world where everyone in the music industry is winning and artists are rewarded for their hard work. Fans can become more invested in their favourite artists journey and it could even promote discovery of new musicians. Enabling the chance to be discovered and make a living purely on talent and not who you know and shortcuts.