> For the complete documentation index, see [llms.txt](https://docs.tokentraxx.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tokentraxx.com/archive/why-is-tokentraxx-a-big-deal-for-music-contents.md).

# Why is TokenTraxx a Big Deal for Music? - Contents

Music income has been collapsing for some time.

The largest labels have a tight grip over the entire music industry, which is reflected in their dominance of the charts. 90% of all top 10 singles in the last 10 years are owned by one of the three major labels. It is estimated that these three music label giants make £19 million a day from streaming alone.

In 2019, 56% of professional musicians earned £20k or less, with 35% needing a second job – just to make ends meet. Since, the COVID-19 pandemic damaged the live scene and reduced royalties generated from on-site plays in restaurants, bars and nightclubs.

1. [Music Industry's Status Quo](/archive/music-industrys-status-quo.md)
2. [The Solution](/archive/the-solution.md)
3. [Royalties](/archive/royalties.md)
4. [Legacy Catalogues](/archive/legacy-catalogues.md)
5. [Data Revolution](/archive/data-revolution.md)<br>