In a world dominated by social media platforms like Instagram and TikTok, content creators can become viral sensations overnight, with short-form videos or “reels” leveraging the algorithms and tapping into the small screens of massive global audiences. But for those trying to make it “big” in the music business, blockchain promises to put the power back into the creators’ hands from an economic and creative perspective.
It’s been well cited that streaming platforms such as YouTube and Spotify pay a fraction of a penny to content creators for every stream, with several reports calculating that a song needs to be played 250 times on Spotify before the artist earns a single dollar.
So is there a better way? Raine Maida thinks so. As lead singer of Our Lady Peace, he’s seen the evolution of digital innovation first-hand, since 1992, the year the band was formed.
Today, in addition to music making and performing, he’s working on advancing the industry’s potential seismic shift, as chief product officer at S!NG, a digital marketplace for emerging artists, powered by blockchain. Through new streaming platforms using blockchain technology and non-fungible tokens, or digital assets, it’s the artists themselves, and not the record labels, who stand to benefit.
Maida was our guest on the most recent episode of the Disruptors podcast, on blockchain’s potential to empower musicians.
Here are just some of the ways artists stand to benefit from blockchain technology:
1.Blockchain enables IP protection and ownership for the artist
With blockchain, there are no intermediaries such as record labels or producers who own or split the rights to an artist’s intellectual property and their body of work. By saving their work directly to a blockchain technology such as Ethereum, it creates an immutable ledger which makes it impossible for someone to steal or copy lyrics or melodies—artists can essentially own their own “masters.”
2.Profits go directly to the artist themselves—instantly
Blockchain technology ensures more efficient and equitable royalty distribution and revenue sharing, and rights/IP management, by circumventing the middleman.
“Fans are absolutely willing to still support and buy directly from the artists if they know that money’s going direct to them […] I think the passion is there, maybe not for everyone, but for a core set of fans that can help you sustain a career or build a career,” said Maida.
“Anyone that understands the music business, it’s usually six to nine months to get money, either from a publisher, a record label, a pro, so you can take all these different components and start seeing the value. So in terms of how quickly they get paid, it’s instant—brilliant,” said Maida.
Furthermore, by selling music as NFTs, fans receive a digital asset, and if they resell it, artists can build in royalties, so they continue making a share of the sale(s), something Maida said creators have never had the opportunity to do before.
3.Allows for audience portability & creating communities directly with fans
Blockchain-based streaming platforms connect artists and fans in ways not seen in the industry before. Platforms such as Drrops allow artists to communicate directly with their fans and offer them exclusive content and perks. Gone are the days of signing up for mailing lists, to keep up-to-date with one’s favourite artist.
Our Lady Peace tested this theory, releasing their latest album, “Spiritual Machines II” as an NFT, ahead of its traditional release and featuring demos, remixes, personalized video messages, as well as a key to unlock other goodies over time.
With all these benefits that blockchain offers, the main barrier standing in its path is sheer scale required to do so effectively at a truly global, industry-wide level.
“It’s a really interesting time and I think what Web3 and blockchain do now is set us up for this next paradigm shift for musicians and creators, and I’m doing my damnedest to be at the forefront of that,” said Maida.
Speaker 1 [00:00:02] Hi.
Speaker 2 [00:00:02] It’s John here, and it’s Theresa.
Speaker 1 [00:00:04] You know that old expression, Theresa, “music is the soundtrack of your life”?
Speaker 2 [00:00:08] I do.
Speaker 1 [00:00:09] Well, I was kind of thinking about that as I was preparing for the show. And as we get older, we forget a lot of things and. Well, some of us do anyway. But we always remember songs and what was playing maybe for the first dance at your wedding or in the car radio as we’re driving to a vacation spot. When cars had radios that families listened to or that first record, if you remember what a record was for me. And I’m going to date myself here. It was Goodbye. Yellow Brick Road, E.J. at his finest. First album that I owned and I still cherish. What was your first music that you bought with your own money?
Speaker 2 [00:00:51] Oh, I don’t even remember. But I do remember. My dad loves garage sales and he came home one day with a box of just old CDs he picked up. And of that, like, I think Smashing Pumpkins is the album I remember most, but I remember which Smashing Pumpkins didn’t buy. It was I was gifted it. But, you know, when we think about like our experience of music, how we consume it, how we purchase that, my generation and those that have come after me have certainly just disrupted the music industry. I don’t know if anyone besides anymore. Digital is the default way to consume music. And where we actually do own a digital version of a single or album, you know, iTunes was not that different from the old days, John. I mean, all day is this comparative word. But we have in less than a decade just given up owning entirely streaming music, essentially renting songs and albums from services like Spotify or Apple Music is now how most people listen to the soundtrack of their lives. But this shift has come at a real cost to artists. John.
Speaker 1 [00:01:55] Yeah, that’s right. The days of BJ or Elton John making all their money on record sales are long gone. Streaming services pay a fraction of a penny every time they play your song. By one account, they need to have that song played 250 times before they make a dollar, and that’s no way to make a living. Luckily, though, just as technology has disrupted the livelihoods of musicians pretty much everywhere, it’s now opening the door to new opportunities, new ways for enterprising artists to capitalize on their creative output, cut out the middleman and establish a new kind of relationship, a sustainable one with their fans, with their audiences, with all of us. Maybe, just maybe, it’s never been a better time to be both a musician and a music lover. This is Disruptors, an RBC podcast. I’m John Stackhouse.
Speaker 2 [00:02:52] And I’m and Theresa Do. In this episode of Disruptors, we’re looking at how the music business is set to be transformed yet again by digital innovation. But this time, through new streaming platforms using blockchain technology and new products like Nfts or Nonfungible tokens, it’s the artists themselves and not the record labels who stand to benefit. Our next guest has a unique perspective on this potentially seismic shift. Raine Maida is the lead vocalist and primary songwriter of the alt rock band Our Lady Peace.
Speaker 3 [00:03:30] Used to.
Speaker 2 [00:03:31] Which has sold millions of albums worldwide and won four Juno awards. He’s also chief product officer of Sing, a sharing platform and tech company targeting the music industry and artists like OLP.
Speaker 2 [00:03:45] Welcome to Disruptors.
Speaker 3 [00:03:46] Great to be here. Thank you.
Speaker 2 [00:03:48] I’m wondering if we can start off with a bit of a description of parties and how they’re being used by artists and their fans. So Our Lady Peace released its latest album, Spiritual Machines to as an NFT this past January before releasing it to the general public a month later. Can you walk us through what an NFT is, why LP chose to release one? Why did you think consumers would want to buy an NFT of the album?
Speaker 3 [00:04:11] Yeah. I mean, there’s a lot of aspects and components to an NFT that make it interesting, especially for creators. You mentioned Our Lady Peace. So we gave out or sold 500 limited edition versions of her album prior, probably six, seven weeks prior to them, meaning the DSPs. So the benefit was that you get to hear the music early, which I think is I never want this to get lost in the technology. But from my perspective and my lens, obviously a music fan, that’s what they’re looking for is music. But the fact that they got generative artwork, so they got an original piece of art with it and being on the blockchain that can be verified has provenance. And I think that that’s what’s very interesting about blockchain, that whole component of Web3 being able to add utility to this NFT that a fan purchased was something that we explored. We, we added demos stands of the song so like original studio kind of files that they’re able to manipulate themselves afterwards and some physical components as well the album artwork signed by us in a in a video message so we tried to kind of trying to bridge this gap for fans because, you know, I do admit that I had to kind of just help fans understand why the digital asset has value like an app lifetime value. Some of the things that are very interesting for a creator is the fact that we built in a royalty into that NFT where in a sense of the band were to go resell that on an OPENSEA or let’s say which is a market that we launched on, you know, for the first time ever, that creator and maybe the artist, we have a 10% royalty built in. So on a resale, we actually make a little bit of money, which is I think for creators is something that we’ve never had the opportunity to do before.
Speaker 1 [00:05:51] I wonder if you can give us a sense of how much the economics of music has changed just in your career? I believe your band started in 1992, really at the at the beginning of the digital era. And while much of your music may have the same inspiration, it’s extraordinary how the economics have transformed, for better and for worse. How has that influenced your work as a creator?
Speaker 3 [00:06:17] Yeah, I think it’s a great question, John. I think I’m like the perfect case study because I did come in right at the advent of digital age in music and literally have lived through the paradigm shift. So it really it really started for me in terms of why my interest in technology, like why do I, why do I need to start understanding this? Probably around the time that Napster started. Technology on the music side has always been progressing, kind of not slowly. But, you know, the way you record we did we actually recorded our first album on two track tape and then moved into digital, a different media called Radar and then into Pro-Tools and kind of all the platforms that you experience now as a creator, which are amazing and 100% democratize the space and do so much greater for artists and creators on the technology side. In terms of the economy of music, yes, Shawn Fanning created Napster and literally started taking money out of my pockets. And I kind of sat there saying, wow. So I am a fan of technology in terms of exponential use on the creative side. But what do I feel about this? Because now people are using BitTorrent and different sites to kind of I’m not going to say steal music, but start streaming. And with the advent of digital music streaming and not have to pay for it. So I was like I say, I was a fan, but I was a fan of like progress. And I think as an artist and a creative that’s being creative, you know. So I did have an appreciation for that as opposed to, you know, Metallica who went out and said, Hey, man, stop stealing our music. It inspired me. And I felt like, okay, this is technology just needs to with all technology, there’s a downside. And maybe this was the first downside for me as a creator, but how do we leverage it? So I literally started building products that were in the space of trying to empower the independent creator. And so. Here we are. Fast forward and we’ve gone through the illegal streaming to Apple selling music for $0.99 a song, however arbitrary that was by Jobs to create that value. But then that lost out to streaming and subscription models. So it’s a really interesting time and I think what Web3 and blockchain now do is set us up for this next paradigm shift for musicians and creators, and I’m doing my damnedest to be at the forefront of that.
Speaker 1 [00:08:25] Yeah. Web3 or web 3.0, depending on how you like to call it, is really about decentralization. We had Web 1.0 with the Internet 2.0 with social, and now it is being decentralized through things like blockchain. And we got a really good taste of this when we were all rapidly distributed through the pandemic and forced to live decentralized lives for better and for worse. And I’m curious, rain just looking back over the last two years. Hopefully that’s not the future that we just went through. But if it gave us a sense of the the techno future of 3.0 and, and what that might mean for creators and for art, including music.
Speaker 3 [00:09:06] The path that I’m really focused on is, is when you talk about attributes of Web3, the one that’s most important to me is portability. So when I talk about portability, I look at my career and the art of creating communities. Now, if I go back to 92 or when we first started in clubs, you know, throughout America and Canada, we were literally putting an email list at our merch. I wanted to connect with our fans, so say sign up to our whatever newsletter or fan club. And that was literally like total score. Someone sign up, you know, with a pen and paper and a clipboard at the merch. But obviously it’s progressed to where now we build communities on other platforms. And the problem now is that I started with MySpace, I spent a lot of time and energy building something there that’s no longer. And so it’s really about keeping up with the Joneses of what’s the new hit platform to build on. But the problem is and this literally just I was talking to a manager about it on the weekend. It was over our house in Los Angeles. And he was saying, yeah, isn’t it weird? Like we all know there are something change in the algorithm on Instagram back in February and everyone’s kind of growth really slowed down and your reach wasn’t as good and they’re trying to move you to reals. And so not saying that that the tools that Instagram have are an amazing. But the problem is if I get upset and I’m feeling like Instagram’s misbehaving, I can’t just take all those thousands of fans that I’ve been building over the last five or six years that have literally limited letting into my life. When you talk about the pandemic, John, and yeah, I’ve been showing them like what I’m eating for breakfast or doing on Instagram live. But the problem is, if I don’t like what’s happening over there, I can’t take that fan base that I’ve built that community. It’s not portable, they own it. So what I’m hyper focused on with my partner, Mitch Butler, who’s based out of Toronto here is a platform that we build called Drrop, with two “R’s”, and that is about creating your communities on a platform that the artist owns for the first time. So that is really kind of the lane I picked in Web three. And like I said, I think portability is the future for artists.
Speaker 2 [00:10:59] I’m really interested in that vein, Raine about empowering the independent artists and ensuring that they can retain ownership and IP rights. In a recent interview you mentioned the reason you chose Etherium specifically is because of smart contracts, and I’m hoping you can tell us more about smart contracts and the potential for blockchain to do things like enable artists to retain IP rights when collaborating with other artists, for example, some royalties they might get from those sorts of things.
Speaker 3 [00:11:25] When you talk about smart contract and the theory and block like that, digital ledger is incredibly important because that essentially what that acts like, you know, you have this ledger of I think what you’re hitting addresses is even sign split. So distributing those moneys, I mean, the value of blockchain is amazing, right? Just to give you that in real life. Example one when we sold our 500 copies of spiritual machines to as an NFT on the SING market, it’s incredible, right? Everyone got their unique asset, but we got paid immediately. Like if someone bought it through their wallet, like all of a sudden, all these gatekeepers, all these intermediaries that were controlling literally my money, I see that money go straight into my metamask wallet from point A purchased out money is delivered right to me. Anyone that understands the music business, it’s usually 6 to 9 months to get money, either from a publisher, a record label, a pro, so you can take all these different components and start seeing the value. So in terms of how quickly they get paid, it’s instant. Brilliant. And just to go back to your initial question, I’m kind of a believer in a theory. I’m, you know, obviously it was built here in Canada. So I have a great affinity for it for those reasons. But it seems like it would be the one urge. There are other blocks until we find interoperability between all these different chains, which I don’t know is possible or is something that’s that we want as a solution. Ethereum seems to be the best bet. Having that portability on the Ethereum chain is something that I know is it’s immutable. I’m going to have that data and the fans that that we’ve been building over the last six months forever on that. And that’s how you build a career. Now, if you’re a new creator of good bye.
Speaker 1 [00:13:06] I want to go old school on your for a minute because portability used to be about the album cover. That’s how you used to port your music if you go over to a friend’s house to listen to records. And I’ve heard you talk on other podcasts about the lost art of album, album art, which I love to see in my basement. We have a wall of old albums of like Synchronicity and Breakfast in America who albums even kind of weird things like Upstairs at Eric’s and our kids who are in their early twenties now and have phenomenal music tastes kind of look at us. What is that? But t they’re really intrigued by it because it’snot a poster. We got into arguments about this. It’s an expression of the art that the music tries to project as well. How do you carry that into web3 and into ideas like NFT too? I know NFT is are great for art, but do it in a way that keeps it integral with the music.
Speaker 3 [00:14:11] Yeah, it’s a great question. There’s a generation that artwork is really like a thumbnail that exists on their smartphone, you know, and with that and I’ve seen it with me, there’s a decline in the creative process with that because because knowing that it’s not that important anymore, I kind of lost just too lost a lot of juice in terms of the bandwidth that I give to our work for an album or even music videos anymore. Like, you know, back in the day, Radiohead would make these incredible little films. It’s definitely lost a lot of that glamor. But I think it’s about to come back now because with Blockchain and NFT, it allows me as a creator to think digital. And what that does is, as we did with our artwork, we have we have a great artist that we partner here in Toronto called All the Goldsmiths. So he created the artwork for both Spirits Machines record. And now people have these collectible pieces because they’re all very, you know, the highest as possible is a digital asset that you either buy or rewarded on the different platforms that we use. You can absolutely print these things up and they look beautiful or they just they’re great to sit around at a bar when you’re sitting, you’re comparing entities on your phone. But the ability to think digitally now has as me really excited. And so artwork has become not a new medium but it’s reinvigorated that that medium. Album covers music, videos, pieces of content that now people can own and train on the theory and.
Speaker 1 [00:15:35] Coming up after the break, more of our conversation with Raine Maida. So stay right there.
Speaker 4 [00:15:43] I’m Sasha Braganza, lead on RBC Music, a platform that uses music to support and inspire youth. One of our key pillars on RBC Music is support for emerging Canadian artists through programs like First Stop. We look to provide artists with the resources required to chase their dreams. It really is such an exciting time to be an emerging artist as we’re starting to see an important evolution in the learning and making of music. RBC Music will be partnering with Sound Unite on a global mobile music education ecosystem coming soon. This mobile offering will be a game changer for how artists create, collaborate and distribute their music. We’re so excited to expand RBC Music’s support of emerging artists through this venture. Follow RBC Music on Instagram for exciting updates related to sounds. You might.
Speaker 2 [00:16:36] Welcome back. On today’s episode, we’re talking with Raine Maida, lead singer of Our Lady Peace about the opportunities and challenges posed by new technologies in the music industry. I’m very curious about how emerging artists are going to fare in this new world. I think it’s very easy for one to be able to sell an NFT from an established band like Our Lady Pea. But for some of the artists on the same marketplace, I’ve never heard of many of them. I wouldn’t necessarily be compelled to purchase an NFT. What’s the potential for these emerging artists who don’t have a substantial fan base, who aren’t using a record label or a giant like Spotify to help them build that base in order to get a foothold and to build themselves?
Speaker 3 [00:17:21] That’s a great question. I like to use some like real world examples of this because again, like we’re getting into the weeds of like what an NFT is having these, you know, crypto wallets. So you can participate on drops. We’ve kind of removed all those barriers. So if you’re a new artist on drops and you’re out of show and all these people are going to be awarded, say, a pop or some sort of token or something or even a piece of merch. It can be physical. You don’t need to worry about any of that stuff. So I think that’s a key. And that goes back to like this, this kind of like not jumping fall into Web3 where we call ourselves a Web 2.2.5. To your point on seeing what I think is really interesting and that is if you look at platforms like Web two platforms like Patreon, so there are a lot of young artists that make pretty good money by selling subscriptions to their content and them as creators. The key to that is it’s direct to fan. Right. Bandcamp is another example I like to use, which is again another kind of direct to fan merch house. And if you paid attention during COVID, it was incredible. They had what they call Bandcamp Fridays where the fans knew that 100% of the proceeds. So if you bought a vinyl album or if you bought a piece of merch from that artist on Bandcamp, 100% of the proceeds directly to the artists. Those Fridays over the pandemic were massive. Fans are absolutely willing to still support and buy directly from the artists if they know that money’s going direct to them. We’ve had that kind of taken away from us in a way, because we we’ve all kind of adopted subscription models of DSPs and haven’t had to have that same engagement. But I think the passion is there, maybe not for everyone, but for a core set of fans that can help you sustain a career or build a career. I think there is that want to support the artists. So as soon as the adoption happens to where, you know, like I said, on seeing where we start to realize, hey, this is going direct to artists, get out of the weeds of what an NFT is and the speculative nature of real. Realize that in its simplicity, it’s just this direct relationship with the artists that you can have that actually instill some lifetime value. I think once we get there in messaging, things start to change.
Speaker 1 [00:19:29] We’re also seeing lots of new platforms. That’s the beauty of human creativity and commerce at play platforms disrupt and replace each other. You probably see a bit through your own son, Rowan, who’s becoming a musician in his own right and developing a good following on Tik Tok. I’m curious, as you watch yet another generation disrupt previous generations through newer platforms like Tik Tok, in what direction you think that might take? Music and the business of music?
Speaker 3 [00:20:01] Yeah, I mean, I look at it very simply or I’ve seen all aspects of this business. So when I think about Tik Tok, I, it’s funny, we were actually having this discussion with my son Rowan the other day in the studio because we had a pretty high profile band and they were saying, Hey, Rowan, like, are you all, are you, are you are you willing to really go for new tik tok? And his answer was no. I think I think it cheapens my music. I don’t want to put it up there. I don’t want someone dancing to my song. And so the conversation really started for me. I was like, It’s interesting if someone would’ve told me back when I was starting, if there is a free platform out there where I can market myself, do whatever I want, all the fall where the meeting was accepting of like basically just and holding your phone up with your own hand. That would have been incredible because we were spending like there are hundreds of thousand dollars on videos using that medium to try to get our music out to people. Now, you could do with virtually nothing, so why would you ever say no to that? I have to go back to the next stage, especially for some of my like my son who was still independent, has a signed a record deal. If you can leverage that platform to build an audience, but then find a way to where you can own that audience as well, because you 100% do not own that audience on Tik Tok. And like I said, there is no portability. Then I think we hit this really great Inception point where music and technology kind of sways back to where the artist has the power again, and not these intermediaries and gatekeepers that have controlled, you know, art for so long.
Speaker 2 [00:21:28] What does the music industry look like if blockchain technology, if what you’re trying to do and what others are trying to do takes off, do record labels suddenly cease to exist or do they just become glorified maybe marketing materials or a shared services provider for artists? Like what does that future look like?
Speaker 3 [00:21:44] Yeah, I mean, I think you have to look at it from our perspective as much as. We love to create the ability to market ourselves takes away from being a creator. Like, I love artists that come into my studio in L.A. and just want to write a song or record a song and are worried about being on, on, on tik-tok all day or doing a live on Instagram. They’re really just focused on being artists. And I think what all these platforms and the power of them, which is really great, it does take away from you being an artist in terms of, hey, I am a songwriter or do I spend too many hours of the day on these social platforms trying to build up the volume? It’s almost like a necessary evil at this point. I think the labels will continue to exist, obviously. But like you said, like a shared services feels a little bit more natural and a better fit. And the artists clawing back that power in terms of, hey, you know what, I need to fundraise to go into a studio to report on. How can I fractionalized myself on a blockchain? Can I use a site like Royale where I can go sell 50% of the song before I even make it or an album? And that’s the way I’m funny myself. That’s really interesting. So Fractionalization is interesting what Singer’s trying to do in terms of distribution. Can I can I get this this album or this EP or this song out to individuals or my fans before I release it to DSPs? Can I take a little bit of power back where the people that really wanted and want to support me and will pay for it and find lifetime value in that asset are willing to do that. That’s really interesting. And then with Drrops for me, you know, working on this project for the last few years, owning our communities, that’s another component that I think as it starts to catch fire and we get enough use cases over the course of the summer that some of the artists that we’re working with realizing that, oh my gosh, I’d like to give just to give you an example, with Drrops, we did a small LP, did seven shows right before Christmas, like Boston, New York, all of the Eastern Seaboard of the U.S. We probably onboarded four or 5000 new Our Lady fans. If I were to tell you how many fans I have in our database that we can connect directly to via email. From my last 20 years of touring, I mean, I’m embarrassed to tell you it’s probably 12,000. Half of them probably don’t. Even those emails are dead. So that’s just that’s a great example of, hey, it’s really empowering and it’s time to take back our communities and be able to speak directly.
Speaker 1 [00:24:03] I think I remember joining those audience groups literally with a pen and paper, writing clubs, writing down my email with my old Hotmail account. You can delete that. If it was Hotmail, you have permission to do delete.
Speaker 3 [00:24:19] Trust me, any anyone that’s on the OLB fan club or email list, that’s EarthLink. They’re probably.
Speaker 1 [00:24:26] Right. This is this has been an extraordinary conversation. And as we move towards close, I wonder if I can just get you to step back, to look at your career as a musician through these incredible changes in business models and in technologies, and share some thoughts on what has endured in your music and also what’s changed and may continue to change because of technology.
Speaker 3 [00:24:50] Yeah, I think what’s most profound for me is the challenges that the music industry in particular has faced as we’ve really gone through these technological changes that have truly disrupted music and how it’s distributed, how you make it. I think it goes back to that that component of our inner creativity. And even as an artist myself, who considers myself a creative, that’s how we make a living. Being creative, writing songs, playing, playing these songs live. It’s really forced me to even massage and use that creative muscle even more, right? Because I’ve had to adapt. And I think that’s part of creativity is being able to adapt. And this is this has been something that I’ve and I can tell you first off, I didn’t embrace that early on, like when I first started in the music business, much more kind of set in my ways and kind of old school. But the technology changes are what have helped me like really trigger that creative muscle again and probably ways that I, you know, just sticking to simply being a songwriter I would have experienced. So I think my creativity expanded because of technology and all the changes that that affected music, which I’m, you know, ultimately and grateful for. And to sit here today with you guys, really hopeful for the next generation, three years in terms of being to own and they control their work and in ways that I never was able to.
Speaker 2 [00:26:06] That’s such a beautiful sentiment. Raine, thank you so much for joining us today on Disruptors.
Speaker 3 [00:26:13] Pleasure. I’m honoured to be here. Thank you so much.
Speaker 1 [00:26:15] Really, we wouldn’t dream. And that conversation has me wanting to dig out my old records and some of the CDs in my basement. And it makes me think about not only how much music has changed in our lifetimes, but also how much it hasn’t changed. The technologies that my parents listened to music on is a universe away from the technologies that my kids listened to music on. But there’s also so many similarities in the messages and the ideas in the spirit of music. And I think rain really captured that, that we always should be embracing new technologies and not try to chase them away just because it disrupts things or even makes it a little uncomfortable, both for producer and consumer in the disruption. But we always have to find ways to sustain the artistry of music to ensure that the creators have a viable way to continue to create. And all of us have a role to play in that and to pay into that technology kind of helps us with that.
Speaker 2 [00:27:17] Yeah, exactly. And I think how you can build that or how artists can build that is by developing those relationships with fans. Right. Like Raine talked about, how Drrop the platform creates new experiences for fans to get more collectibles, more merch. And, you know, I think about how as a fan and as a spectator going to concerts or watching sporting events, it’s no longer this one sided relationship where I’m sitting there. I’m watching whatever’s happening in front of me. But what can I do that allows me to be part of this experience, that allows me to feel like I am an artist myself, inspired by the artists in front of me. So I think the future of this industry is so exciting and I’m really keen to see how it will emerge and develop.
Speaker 1 [00:28:03] Well, that’s all for now. Thanks to our guest Raine Maida. Next week, join us for the latest tech and innovation buzz with our ten minute take series. Until then, I’m John Stackhouse.
Speaker 2 [00:28:13] And I’m Theresa Do. This is Disruptors, an RBC podcast. Talk to you soon.
Speaker 4 [00:28:24] Disruptors, an RBC podcast is created by the RBC Thought Leadership Group and does not constitute a recommendation for any organization, product or service. It’s produced and recorded by JAR Audio. For more disruptors content like or subscribe wherever you get your podcasts and visit rbc dot com, slash disruptors.
Disclaimer
This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.
