![]() In South Korea (hereafter, Korea), the business actors garner 83.25% of the total revenue through digital streaming while the producers and performers are assigned <10% for the reward of music creation (KOMCA, 2018). Meanwhile, the distribution of royalty shares for consuming digital music has been opaque and unbalanced between two major stakeholders the music artists and business actors (Hur 2017 Lee et al., 2020 Moreau, 2013). Accordingly, labels also encountered a major shift in revenue models from CDs to digital downloads and streaming. For record labels, what used to be a physical transportation to channel an overseas distribution was capacitated by the introduction of an online marketplace, reaching the global audience at once. For consumers, music became much more accessible and portable by downloading thousands of music from a Peer-to-Peer (P2P) website and listening on a MP3 player. Similar content being viewed by othersĮxemplified by Apple’s iPod and Spotify, the digitization of music in the early 2000s was deemed a new paradigm shift which presented a transitional phase from physical stores to digital services (Faria, 2011 Riemer and Johnston, 2019). ![]() After thorough discussion, the study provides key implications to induce sound settlement of an innovative technology. ![]() Indeed, it may be too good to be true for artists who have observed the local domain with little change regardless of their continuous cries for help. ![]() Based on social representation theory and interviews with Korean artists, this study found ambivalent perceptions towards the adoption of blockchain in the music industry - hoping for new possibilities while also perceiving the impracticality of such innovation. This involves the disintermediation of the obsolete music royalty distribution system and a new revenue channel from the Non-fungible Token market. ![]() This study seeks to construe the realistic thoughts raised by artists regarding the new revenue opportunities arising from the adoption of blockchain in the Korean music industry. Although blockchain has often been perceived as a game-changer that can revolutionize the music industry, it also retains possible challenges regarding the practicality of such innovative adoption. ![]()
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