Sync/licensing (licensing your music to a tv show, ad or movie).

Live performance (at clubs, festivals, venues etc).

Streaming royalties (spotify, apple music, youtube, radio play).

In the Web2 music industry the most common revenue streams include: If you intend to build something seriously in web3, like-minded people are often not more than a Twitter Space or DM away.

Just by being a part of a team seriously building in Web3, I have personally spoken to dozens of musicians, label heads, producers, event organisers, incubators and other projects. This provides unique opportunities to make friends with people who could with a musical project - the kind of folks we spoke about in our Building A Team article. Web3 Music is essentially a whole new network currently being built, often by younger folks in the industry. And so, one way up is to become integrated within these networks. Labels, with their audience bases, are essentially just powerful networks. The current music industry, at its most basic level, is a huge, high level network of people. At the time of writing this article, Web3 Music is still relatively small, and due to the barrier of entry (which is essentially just education about the blockchain), Web3 tends to attract folks interested in both innovation and collaboration. Perhaps the most valuable aspect of Web3 Music at the moment is the networking aspect. ‍ ‍ Access to a high quality global network Let’s examine some of the reasons one might like to jump into Web3 Music.

And major labels are now getting into the fray.

Bandcamp royalties