Fact 1: Spotify’s own playlists now generating more than one billion weekly streams. 40% to 50% of the total playlists are coming from what Spotify defines as ‘collections’ — the playlists that users create themselves and add to their ‘libraries.’
Fact 2: Playlists on Deezer represent 40% of its streams. Half of it comes from user-generated playlists and the other half from professional-generated playlists.
Users in two of the biggest music platforms are growing in its influence overall. Their taste of music create thousands, or perhaps millions, of playlists that are streamed over and over. Users grade, like, share music, and group the ones they like. As the user population grows and their activities become more frequent, the user participation started to mean a lot more than before. The “curations” by users opened up a new paradigm in the music industry.
Sources: Music Ally http://musically.com/2016/06/05/music-curation-and-playlists-the-new-music-battleground-midem/
RECORD Foundation runs the first reward-based music service platform, RecordFarm. A solution to the traditional music industry, it creates the healthy environment where creative works are valued, curations from users are rewarded, and transparency is ensured. The new ecosystem, driven by blockchain technology and RECORD token, simplifies the process and eliminates unnecessary intermediaries.
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