Our Mission

While revenues from digital streaming and live performances have increased in recent years, revenues in the music industry as a whole have declined since the late 90s.

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The Black Box

Due to the complexity and time consuming nature of deal negotiation between artists, publishers, and entities looking to play the music, the industry created Performance Rights Organizations (PROs), which act as intermediaries.

The nature of the music industry creates a spider’s web of payments; one composition, which has one copyright, can be recorded an infinite number of times, producing infinite copyrights. These, in turn, can be played by multiple entities, from radio stations to concert halls. The PROs receive money from these entities, but because there has never been a central database to keep track of who is owed what, huge sums of money often end up sitting, undistributed, with the PROs.

This is the Black Box; collected but undistributed revenue. While it is difficult to know how much money sits undelivered, the conservative approximation is about $2.5 billion annually, in the West alone. Some members of the industry put the approximation as high as $5-8 billion.

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Delayed Payments

Even if (and it is a big if) a PRO knows whom to pay, the internal mechanisms used to determine this information, and execute the transactions to thousands of artists across the globe, result in a lengthy payment process.

It is not uncommon for artists and musicians to be paid more than two years after their music has been played.

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Untapped Revenue

There is an incredible pool of music consumption data that simply isn’t collected. While the digital shift has facilitated a growth in music consumption, the tools used to track the consumption have not developed adequately. Now that every phone in every restaurant, mall, and hairdresser across the world is playing music, the data simply falls under the radar.

Through our pilot projects to determine the scale of the untapped data, assessed alongside the current data of season industry experts, we estimate that as much as $50 billion worth of data remains uncollected every year.

This equals the annual global turnover of the music industry.

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Our Solution

The problem is simple: there is no transparency in the music industry. People don’t know who is owed what.

By offering a service that tracks whose music is played when and where, and which parties are owed what, we offer this transparency.

“We are not here to disrupt, but to offer a clear lens through which the entire music industry can operate.”

The UOP will create value for each entity in the music industry, from offering record labels geographic consumption data to help plan artist tours, to record labels being able to hedge their investment through buying half the rights to a catalog, and putting the rest on the open market.

The possibilities expand - hedge funds looking for an investment? Publishers looking for the next big thing? There is no end to how the UOP can be applied.

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How?

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The Utopia Genesis Foundation provides a new set of tools, technology, and funding, while anchoring Utopia to the values blockchain represents to its community: decentralization, equity, and transparency.

The Utopia Open Platform is founded on the open-source principles nascent to a blockchain. The Open Platform allows third-party developers access to the valuable data of the parent company, Utopia Music AG.

As applications are deployed in the ecosystem, we will be able to map out the complete landscape of the music industry.

A Healthy Ecosystem

In order to maintain this system, we have launched the UOP Token. Click here to read more.