33524 Blockchain and NFTs: Shaping the Futures of the Music Industry

Abstract

In the music industry, established players and new entrants are exploring blockchain blockchain for innovative intermediation solutions between artists and consumers. Blockchain, smart contract smart contract s, and non-fungible tokens (NFTs) are expected to reduce transaction costs and complexities arising from multiple rights and contracts, while enabling the emergence of a token economy. Relying on intermediation theories intermediation theory , this chapter aims to analyze blockchain’s impact on the music industry’s structure, organizations, and value distribution, highlighting the roles of strategies, technological capabilities, and governance frameworks. An extensive empirical study identified three scenarios: radical disintermediation, traditional intermediaries optimizing workflows with blockchain, and new entrants widely adopting blockchain.