We now live in the "streaming economy." Content streaming is growing globally, putting the recorded music industry revenue on a path to surpass the highs of the 1990's.
Streaming music royalties are set to exceed $34B by 2030. But labels estimate a discrepancy of up to 15% between reported and true play count across platforms. With 600+ streaming services across the globe, tracking the data generated is nearly impossible, and auditing for accuracy even more so.
These tracking errors create billions of dollars of unpaid royalties.
We exist to solve this problem.
The industry has a coordination problem. Every stakeholder needs a trusted way to authenticate streaming play count and calculate the associated royalty payouts to rights holders. But friction arises from the uncertainty about who - if any single entity - should own the solution.
Blockchain technology solves this coordination problem. Fundamentally, blockchain provides a new way to think about how we agree on things. It offers a way for untrusted parties to reach consensus on a common digital history.
In our case, blockchain technology is used to authenticate, or in other words reach consensus, on the actual play count of music streamed by DSPs. And we do this without disclosing Personally Identifying Information (PII) of streamers.
Beatdapp tracks every stream in real-time to create an immutable record secured by our proprietary blockchain and Proof of Authority protocol. Our protocol is capable of handling throughput exceeding 1 million transactions per second, giving us the ability to handle the peak volume of all global streaming services simultaneously.
For our label clients, we seamlessly sync with labels' artist repertoire systems and third-party metadata tools to ingest and track their entire catalog.
For our DSP partners, we understand that audits are expensive and time consuming. Beatdapp helps streaming services reduce the cost, frequency and duration of server log audits from content owners.
We provide authenticated usage reports to comply with new and ever-changing copyright regulations. And we leverage our global streaming dataset, machine learning and artificial intelligence to detect bad actors, streaming farms and fraud.
Beatdapp keeps play count in tune.