Peter Harris is a web developer and electronica artist who founded the streaming music cooperative Resonate. Its mission is to build key components on the blockchain and to provide transparent accounting and truly unique opportunities for our artists.
The Blockchain is a term that you're going to be hearing quite a bit in the future, so it's in your best interest to learn about it now!
Peter talks about the need he saw in the marketplace of streaming services, and how he's able to provide a more equitable solution for both the streaming services and artists who play their music with them.
Here are some highlights of our chat. (To give fair warning, this has a lot of technical jargon that you're not going to understand at first. Don't worry about it. Just like you didn't get English the first time you heard it, repetition is the best teacher. You're going to hear about the Blockchain a lot on this podcast and website in the future.)
- The story behind Resonate
- None of the streaming services (dating to 1999) were equitable for the artists.
- The capitalism conundrum: The needs of capital don't always reflect the needs of the culture.
- What is the Blockchain?
- Was implemented along with Bitcoin, a decentralized system of currency.
- Bitcoin is the most commonly known implementation of Blockchain.
- Think of it as a decentralized worldwide super computer.
- Consolidates databases across sectors of many industries.
- What's the difference between the Blockchain and the Internet?
- It's a different protocol, i.e. http, smtp, etc.
- How is Resonate different?
- It's a co-op. Members are owners.
- It takes 150 plays on Spotify for the artist to receive the equivalent to the price of a download.
- Resonate allows the artist to receive that amount with 9 plays. Plus, the customer owns the song.
- Spotify relies on the big 3 major labels for survival, while the rest hang on their coattails. Resonate allows for indie's to prosper and better connect with their fans.
- 150 indie labels, over 1200 artists are members.
- Think Bandcamp for streaming.
- Major labels are not the priority
- Founding of Spotify was a reaction to how the Internet had drastically changed the music industry so quickly.
- Long term effect is that no one really comes out ahead.
- Resonate allows a consumer to more gradually become a fan of an artist.
- Only been in operation since Dec. 2016
- Peter believes there are multitudes who are just waiting to see how it goes before joining.
- Check out circle.com
- Tag your Music!