Audius is probably not a name you’ve heard before. The exponentially growing music streaming app has raised millions of dollars from celebrities like Nas, Katy Perry and Jason Derulo.
It is reminiscent of SoundCloud, but not quite. By putting a different spin on music streaming, Audius is using technology to help support artists and give them direct access to their fans.
But what about this new streaming service that’s catching the attention (and investment) of some of the music industry’s biggest celebrities and leaders? Read on to find out.
What is Audius?
Audius is an encrypted music streaming app with its own Ethereum-based cryptocurrency token: AUDIO. Audius has more than 100,000 artists, mostly independent artists.
Founded in 2018, the streaming app uses blockchain technology, with a focus on supporting artists in an industry infamous for uneven pay. Think of it as SoundCloud, powered by blockchain technology and created with artists in mind.
As of July 2021, Audius had over 5.3 million unique users who had collectively listened to music over 7.5 million times during April 2021 on the app, the busiest month in the world. ‘Audius to date.
The unique music streaming app has caught the eye of high-priced artists who are investing heavily in the app which is taking the music industry by storm.
How Audius differs from other streaming platforms
This is a music streaming app for music lovers, by music lovers. Audius is owned and operated by a community of artists, fans and developers; and aims to give artists more control over how their music is monetized.
Audius has a social media element, helping artists connect directly with fans through their music. For example, Audius has a feature that allows artists to share their music from the streaming app directly to TikTok.
By structuring the app in this way, Audius addresses the industry-wide challenge of artists not receiving the compensation they are owed for their work, with artists working behind the scenes typically losing royalties.
Regarding its technical aspect, Audius’ blockchain protocol allows artists to time stamp their work. The technology, however, is designed to be user-friendly, so artists and listeners outside of the cryptocurrency community won’t find it difficult to use.
More and more mainstream artists are investing in Audius
While Audius is primarily an independent platform, more and more artists from big houses are investing in the music streaming app as it gains popularity. Some of them include Katy Perry, Jason Derulo, Pusha T, Nas, and The Chainsmokers.
To avoid a licensing nightmare, The Chainsmokers will take a different approach with their use of Audius by uploading music they haven’t shared to music-sharing platforms, like the music the band typically plays live. .
The startup was also backed by Sound Ventures, the company co-founded by famed manager Guy Oseary, Electric Feel Ventures and former Sony / ATV leader Martin Bandier.
While these traditional and industry veteran artists may have an easier time when it comes to the business side of their work, by investing in Audius, they support the industry’s ongoing campaign for artists to own more. their music.
As veteran hip-hop artist Nas said:
I have known that blockchain is going to change the world since I invested in Coinbase five years ago and I think it is perhaps the most important technology to ever affect the music industry. Anyone who downloads on Audius can be an owner, the same cannot be said of any other platform.
How to discover new music on Audius
Finding new music on Audius is pretty straightforward. Here’s how:
Launch the app on your device.
Configure your profile by following the prompts.
Select the artists you want to follow.
Press the The arrow at the bottom of the screen to discover trending music. You will automatically land on the musical trends tab This week. You can also press This month and This year to discover more music that other users liked the most on the app.
You can also press the To explore at the bottom of the screen to discover new music and artists that you may not know.
Audius helps artists get paid
Over the years, artists have fought with the music industry over music rights, royalties, and ownership. Audius is a way for fans, fellow artists and others in the music industry to support creators in solving some of these issues.
This is especially important at a time when the world is in the midst of an ongoing pandemic that is continually affecting the music industry and, in particular, the incomes of artists. Considering that the pandemic is here to stay, at least for the next few years, it’s unclear how far Audius and similar initiatives will go.
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