Problems

The creator economy is plagued with a myriad of issues: - artists and content creators are not adequately compensated - they have limited access to opportunities - advancements in technology are changing business models and disrupting traditional revenue streams. One of the most pressing issues faced by artists and content creators in the music industry and creator economies is the struggle for fair and transparent compensation. In an increasingly digital world, streaming platforms and digital music sales have become the primary sources of revenue for many artists. Current revenue distribution models, however, heavily favour major labels and their established artists, leaving smaller creators fighting for the scraps. On most full catalog platforms like Spotify and Apple Music, artists receive only a fraction of a cent per stream, presenting challenges to artists hoping to earn a sustainable income solely from streaming royalties. Additionally, the algorithms on these platforms favour successful artists, further hindering the potential for smaller artists to break through. These complex algorithms and opaque compensation breakdowns make it difficult for artists to fully understand how their earnings are calculated, leading to a lack of trust in the industry.