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How blockchain technology can monetize new music ventures: an examination of new business models

Author

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  • Robyn Owen
  • Marcus O'Dair

Abstract

Purpose - This paper aims to examine how blockchain technology is disrupting business models for new venture finance. Design/methodology/approach - The role of blockchain technology in the evolution of new business models to monetize the creative economy is explored by means of a case study approach. The focus is on the recorded music industry, which is in the vanguard of new forms of intermediation and financialization. There is a particular focus on emerging artists. Findings - This paper provides novel case study insights and concludes by considering how further research can contribute to building a theory of technology-driven business models which apply to the development, on the one hand, of new forms of financial intermediaries, more correctly referred to as “infomediaries,” and on the other hand, to new forms of direct monetization by artists. Originality/value - This paper provides early insight into the emerging potential applications of blockchain technologies to streamline music industry business service models and improve finance streams for new artists. The findings have far-reaching implications across the creative sector.

Suggested Citation

  • Robyn Owen & Marcus O'Dair, 2020. "How blockchain technology can monetize new music ventures: an examination of new business models," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 21(4), pages 333-353, July.
    • Handle: RePEc:eme:jrfpps:jrf-03-2020-0053
    DOI: 10.1108/JRF-03-2020-0053
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    Citations

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    Cited by:

    1. Chagas, B.T. & Jesus, D. & Palma-dos-Reis, A., 2024. "Blockchain's value proposition for online gambling: The operators' perspective," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    2. Liu, Kaiyuan & Afzal, Ayesha & Zhong, Yifan & Hasnaoui, Amir & Yue, Xiao-Guang, 2023. "Investigating the resource curse: Evidence from MENA and N-11 countries," Resources Policy, Elsevier, vol. 80(C).
    3. Horst Treiblmaier, 2021. "Exploring the Next Wave of Blockchain and Distributed Ledger Technology: The Overlooked Potential of Scenario Analysis," Future Internet, MDPI, vol. 13(7), pages 1-13, July.
    4. Mirza, Nawazish & Umar, Muhammad & Afzal, Ayesha & Firdousi, Saba Fazal, 2023. "The role of fintech in promoting green finance, and profitability: Evidence from the banking sector in the euro zone," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 33-40.

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