I only get paid every 3 months...
For those of you who aren't in the music industry, I would like to shed a little bit of light on the subject of payouts.
Believe it or not, the starving artist mentality can apply regardless of if you have had any success or not. For a lot of independent artists we are at the mercy of our PRO's (ASCAP, BMI, or SESAC) and distributors payout dates. We are confined to sitting around and waiting for all of the systems to go through and process correctly. We have to wait for the streams to register, for the companies to talk to each other and hope that nothing gets lost in translation. Getting paid for our music is literally dependent on outdated computer systems and strangers. This process takes about 3 months, if you're lucky.
Why in the world, in this technological age that information flows so quickly and freely from person to person should we have to wait 3 months to get paid for our hard work and labor?
Why when we (independent artists) are dishing out money for:
+ studio space
+ sound engineers
+ mixing & mastering
+ promo art
+ rehearsal space
+ band members
+ sound technicians
+ gas & food & hotels for touring
+ flat rates just to PLAY venues
+ door charges to get in to network with other musicians
+ conference charges to grow and try to connect with the
... and we are getting paid 3 MONTHS from when we receive our very first stream on a song?
So what can we do about this?
Of course my first thought is XRP and Interledger. If we implemented technology like Interledger using XRP, that was connected to the distributors, that paid artists instantly for the streams that they acquired and paid the artist as the song was played, (like coil) not only would it help artists to live off of their artistry, but it would cut out the middle man and enable artists to get more of the money that they worked for. Whoo.. that was a run-on sentence. But you get the point.
Now I get that this would not solve all of the problems that artists have as we cannot survive off of streams alone, but it would significantly help the overarching problem of the “middle man” and the delay in payment.
What do you think? Do you think implementing the Interledger technology in the music industry would help or hurt it? Tweet me what you think – @riley_quin