The music industry has undergone a massive transformation in recent years. We have seen the advent of the internet leave its mark on music, and most notably, 1999 spelled the coming of Napster. This then-revolutionary peer-to-peer online streaming service defined a whole generation and enabled musicians to share their creations with the world.
Streaming has become the dominant format for music today, through Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Tencent Music and the clear category winner — Spotify (NYSE:SPOT). The goal of distribution services and platforms like Spotify is to enable and empower artists to create more without worrying about anything besides honing their craft.
Joan Westenberg is a Web 3.0 writer, angel investor and creative director. She founded a tech PR and communications firm called Studio Self and is a part of the MODA DAO team. Her writing has been published in The SF Chronicle, Wired, The AFR, The Observer, ABC, Junkee, SBS, Crikey and over 40+ publications and her regular work can be found on Pizza Party, sharing notes on Web 3.0, the Metaverse and NFTs.