There is an awakening taking place in the music industry…
And the patented TuneGO Vault is the centerpiece solution. The foundation for the future of the digital music economy.
If you only remember one thing from this article, remember “METADATA”.
The industry buzzword going forward for the foreseeable future will be METADATA.
But what is METADATA in the music industry? The answer – METADATA is the Next Wave in the digital music industry. METADATA defines music rights. Music rights determine how music royalties are paid.
In other words, METADATA is the foundation of the digital music economy. METADATA determines how songwriters, producers, publishers, record labels and everybody involved with the creation of music collects their money.
In May 2019, TuneGO attended the Music Biz Conference in Nashville, alongside dozens of executives from record labels, music publishers and streaming companies such as Apple and Spotify. The theme of the entire conference was “HOW ARE WE GOING TO SOLVE THE METADATA PROBLEM?”
This is the industry awakening… The METADATA problem is real, but what is the answer?
The answer is the TuneGO Vault! And most importantly, that answer is patented and proprietary to TuneGO!
To illustrate the problem and solution, please read this article Why Building More Rights Databases Won’t Solve The Music Industry Metadata Problem
When you’re done reading the article. Please read it again. It accurately describes the problem and succinctly describes how the TuneGO Vault works. If you understand this article, you understand the tremendous opportunity of the TuneGO Vault!
As this article states, building a bunch of individual databases to store METADATA will not solve the industry problem. Why? Because there is no standard. The industry already has individual databases for data, yet 25% of music publishing revenue doesn’t make it to the rightful owners.
SoundExchange, the collection agency responsible for collecting royalties from Pandora and Satellite revenue, fails to pay at least $500 million per year because of inadequate METADATA – They don’t know where to send the money! Every year, Billions of dollars of music royalties go unpaid!
Why is the TuneGO Vault the Answer?
The TuneGO Vault is not merely another database to store METADATA. The TuneGO Vault is a centralized, global cloud-based platform designed to support individual independent artists, music producers, songwriters and composers; plus Enterprise organizations including record labels, music publishers, talent agencies and collection societies.
TuneGO is the TRUE end-to-end solution the music industry has been looking for. The TuneGO Vault covers the entire food chain of the digital music economy. The average hit song has 4+ songwriters and 6 different publishers. The TuneGO Vault seamlessly connects all parties on one unified system.
We have spent the past few years building a global ecosystem of the world’s top streaming companies, including Spotify, Apple, Amazon, Deezer, plus many more.
We are now focused on solidifying our relationships with record labels, music publishers and talent agencies. Next will come the collection societies. Then our mission of unifying the music industry on one centralized and unified solution will be complete!
And as the article concluded, “it’s time to take responsibility and build this great future for music creators – together!
The Word of the Day is METADATA!