How do music Creators make a living?
Music income has been collapsing for some time. In 2019, 56% of professional musicians earned £20k or less, with 35% needing a second job just to make ends meet.
Covid damaged the live scene and reduced royalties generated from on-site plays in restaurants, bars, and nightclubs.
The architecture of the businesses which collect and distribute royalties is slow, inefficient and fails to capture many of the income streams that creators are entitled to.
The bureaucracy and inefficiency of collecting societies means that significant costs are deducted, and the payment of royalties needed to support creators to continue to create can be delayed by months or years.
Under the Token||Traxx model transactions and use of copyright work is recorded real time and royalties delivered in real time, with no intermediates.