JAMES BLAKE LAUNCHES NEW STREAMING PLATFORM
James Blake's latest venture, Vault, aims to address the issue of unfair royalty rates in the music industry by providing a direct artist-to-fan streaming platform.
Vault operates on a monthly subscription model, allowing users to subscribe to their favorite musicians for a set fee and gain access to exclusive, unreleased music. Blake has already made available three unreleased tracks on the platform, priced at $5 per month for access.
The platform's launch follows Blake's recent social media posts decrying the current pay rates from major labels, streaming services, and platforms like TikTok. He highlighted the challenges faced by musicians, including inadequate compensation from streaming services, labels demanding larger cuts, and the financial burden of touring.
Blake emphasized the need for a solution to ensure artists are fairly compensated for their work. Vault aims to provide artists with more control over their music releases and a direct channel to connect with fans.
In his announcement video, Blake revealed that artists are typically paid between $0.003 and $0.005 per stream, before taxes and label deductions. Vault offers a way for musicians to generate income directly from their music, enabling them to reinvest in their craft and release new music without gatekeepers or delays.
However, the launch of Vault has faced some skepticism, with concerns raised about the subscription model potentially making music more expensive for consumers. Blake has responded by indicating that future iterations of Vault will include features to help users discover new artists and alleviate these concerns.
Despite the initial cynicism, Vault represents a bold attempt to reshape the music industry's streaming landscape and ensure artists receive fair compensation for their creative endeavors.
Learn more about Vault here.