The Music Team Royalties Calculator is a single page application prototype that demonstrates a framework where users can register and calculate the share or royalty revenues for each holder generated by different revenue streams for a given song or track, where the data is stored in the Ethereum blockchain.
In this use case, the blockchain is used as an immutable registry that solves for data integrity across multiple organisations for the music industry and can also serve to automatically simulate the issuing of payments to share or royalty holders.
Smart contracts manage the allocation of shares or royalty revenues for existing and new revenue streams or models based on the contours of copyright law and business practice.These are calculated based on the ownership percentages of publishing and recording rights and of other shareholders.
- User: An individual that interacts with the platform
- Admin: The role a User assumes to manage app settings
- Publishing Rights holders: The owner(s) of a song’s Publishing Rights own(s) the rights to the composition; usually this is the author or authors of a piece of music. The authors are also the copyright owners unless there is an agreement by which the author assigns the copyright to another person or entity, such as a publisher.
- Recording Rights holders: The owner or owners of the Recording Rights own the actual recording of the song’s sound. These rights usually belong to the party that financed the recording.
- Revenue share holders: 3rd party or parties who have had publishing or recording rights transferred to them (eg: Social Marketers)