NEWM is Sculpting the Future of Decentralized Music Streaming
Make it stand out
“Record Company People are shadyyyyyy” so said Q-Tip of A Tribe Called Quest, breaking down the now infamous “Industry Rule 4,080.” That, and many of the other 4,079 rules boil down to a simple question: how much of yourself are you willing to let others exploit to chase your dream? Consequently, a large number of artists operate from much more jaded perspectives as they pursue their dreams. As a result, many musicians found themselves drawn to Web3’s tools that furthered protections for their IPs, enforced transparent royalties, and allowed for new means of artistic expression with their sounds. Though many platforms have attempted to capture that lightning in a bottle, few are looking to empower artists in the way that NEWM is.
Founded by Florian Pittini & Ryan Jones, NEWM was created as a means of bridging a gap between traditional music distribution and Web3’s innovative capacities. As music distribution became much more widely accessible in the past decade, it’s common knowledge that many platforms siphon value that should rightfully go to the creator. Having recently launched their latest product, NEWM Studio, launched in February 2024, allows musicians to take advantage of traditional and innovative tools in the same breath. Built on the Cardano ecosystem, NEWM holds every transaction of value accountable to better ensure transparency of royalty payouts.
In addition to publishing artists’ music to DSPs(Distributed Streaming Platforms, a la Spotify, Tidal, Shazam etc.), NEWM’s ecosystem allows for creatives to auction off royalties to their music as tokens as people stream their music through these platforms, bringing together new and existing tools in increasingly seamless ways. To learn more about the innovation going at NEWM, ARCHIV3 sat down with Co-Founder, Florian Pittini to learn more about their place in the Web3 and greater music scenes, and what they see for the future.
“The driving force behind NEWM revolves around solving the biggest issues within the music industry that have been putting artists at a disadvantage for decades. One of the main problems comes down to the antiquated financial structures that govern it. Today, large entities like streaming platforms and record labels take the lion’s share of music revenue, leaving little to no royalties for artists. As a musician, Intellectual Property (IP) is extremely valuable and artists shouldn’t have to sign away Copyrights just to make a living. Additionally, the lack of innovation with respect to how listeners can interact and collect this subcategory of fine art (in ways that used to support artists more directly – e.g., CDs, vinyls, etc.) has led to a massive gap in the market that NEWM is bridging. The blockchain industry is already disrupting the traditional, financial operating systems that are generally controlled by the rich.” says Florian.
What sets NEWM apart is its comprehensive ecosystem of tools designed for artists. From music distribution to fractionalizing royalty rights and a marketplace for music collectibles, NEWM provides artists with a one-stop solution to manage their careers. Unlike traditional platforms, NEWM’s business model does not include taking a cut of artists’ royalties, prioritizing fairness and transparency.
NEWM provides various avenues for artists to gain exposure, including featured drops on The Record Store, interviews in NEWM’s magazine, and participation in music festivals. Through social media, conferences, and community events, NEWM ensures that emerging artists have opportunities to showcase their talent and connect with fans.
“Artists have various avenues through which they can gain visibility. One such avenue is through a featured drop on The Record Store, our marketplace for music collectibles. Moreover, artists have the opportunity to be highlighted or interviewed in the NEWMagazine, Get Versed!. In collaboration with our partner, Nucast, we host an annual Music Video Festival, providing musicians with a platform to showcase and gain recognition for their artistry and creativity.” Florian tells us.
NEWM utilizes blockchain technology to benefit both artists and listeners. Through NFTs, artists can tokenize their music and offer unique collectibles to fans. NEWM’s Studio platform enables artists to distribute their music, share royalty rights, and facilitate direct engagement with fans, creating a transparent and equitable ecosystem.
“We have two main use cases for NFTs..The first being the Record Store Music Collectibles - These are not tied to music rights – think buying CDs/vinyl, but unique and recorded on the blockchain, with funds going directly to the artists. The second is NEWM Studio Music Distribution & Rights-Sharing - (currently, only Streaming) - Think fractionalizing music royalty rights and sharing them with collaborators and/or listeners.
In both cases, the direct connection between artists and fans is the overarching benefit. Digital music collectibles give artists a new way to diversify revenue, while providing fans with access to exclusive content and the opportunity to directly support their favorite artists. Similarly, rights-sharing in the form of Stream Tokens enables the same line of connection, while also allowing fans to share in a portion of royalties generated by the music they love. Plus, with Stream Tokens, fans have an extra incentive to market the songs they hold tokens for. A powerful case study we have is with Web3, Cardano-based artist, NIDO, whose stream count has grown 40x following the sale of Stream Tokens for his song ‘Love in the Water’ which was released through NEWM in 2022.“
NEWM values inclusivity and strives to provide opportunities for artists of all backgrounds. Through community governance and support initiatives, NEWM ensures that every participant in the music industry has a voice and a seat at the table. NEWM’s platform ensures fair compensation for artists by allowing them to tokenize their music and distribute royalties directly to collaborators and fans. With transparent financial flows and no cuts taken from royalties, NEWM prioritizes the financial well-being of artists. NEWM envisions a decentralized future where artists and listeners have a direct line of interaction and support. By leveraging blockchain technology, this company is poised to reshape the music industry, placing control back into the hands of creators and fans.
“We envision a fully decentralized future where artists and listeners have a direct line of interaction, support and community. One where music takes center stage and artists aren’t beholden to music execs who care more about the bottom line than the actual music – or the people who create it. What we’re doing is taking the tech that has already revolutionized other sectors, and adapting it to fit the needs of the music industry.“
With the recent launch of NEWM Studio, the platform is set to unveil its mobile app and marketplace in 2024. By continuing to innovate and adapt, NEWM aims to lead the way in the evolving landscape of music distribution. NEWM’s commitment to fairness, transparency, and community-driven innovation positions it as a leader in the decentralized music scene. As the platform continues to grow and evolve, it holds the promise of transforming the music industry for the better, one stream at a time.
