B2B music streaming technology company Tuned Global has joined forces with Sona, a Los Angeles-based Web3 streaming protocol that recently launched its new music streaming platform.
Sona, founded by Jennifer Lee (aka producer and DJ TOKiMONSTA), unveiled its streaming platform in open beta last week. Using decentralized finance (DeFi) building blocks, this ad-free streaming platform facilitates artists in streaming content, overseeing rewards, conducting auctions, and more.
Sona does away with the traditional subscription streaming model, allowing fans to stream music for free, but also to purchase “SONAs” or “digital twins” of their favorite tracks that enable fans to earn a share of the streaming rewards on the platform. Operating in tandem with the traditional music business, Sona allows both labels and independent artists to participate.
Through the new partnership, Tuned Global will provide its content delivery tools and reporting services to Sona. Tuned Global’s assistance, through content delivery and APIs, will enable users to create playlists and launch radio stations based on their favorite artists.
The platform is designed to maximize social discovery of new music by encouraging artists and curators, Tuned Global says.
“Though they are pioneers in decentralized music, Sona knew they needed to harmonize with the existing music industry and its needs. We were here to make sure they could accomplish this efficiently and cost-effectively.”
Con Raso, Tuned Global
“We are always working to find and support innovative models that accomplish our customers’ goals, which in this case are to offer more ways to support artists directly, not just through the usual streaming royalty payouts,” said Con Raso, Managing Director of Tuned Global.
“Sona offers a particularly exciting opportunity, combining blockchain and traditional music streaming on a single platform. It’s a first, and it’s brought together some of Tuned Global’s most exciting technical capabilities.”
Moreover, Tuned Global ensures that Sona can report its usage to rightsholders “while creating a new market that promises to change the game for signed and independent artists.”
“We’re tilting broken streaming economics in favor of artists and making the industry more fair, equitable and rewarding for both artists and fans,” said Laura Jaramillo, Sona’s Co-Founder and CEO, who is also a technologist and decentralized community expert.
“We’re redesigning the system by which music is created, collected and consumed so that artists can own what they do and create without compromise.”
“We’re redesigning the system by which music is created, collected and consumed so that artists can own what they do and create without compromise.”
Laura Jaramillo, Sona
Tuned Global’s Raso added: “Though they are pioneers in decentralized music, Sona knew they needed to harmonize with the existing music industry and its needs. We were here to make sure they could accomplish this efficiently and cost-effectively, so that they could bring Sona to market faster.”
The development comes amid the emergence of Web3 music streaming services that claim to offer a fairer and more rewarding music industry, especially for independent artists who are faced with the challenges of visibility and fair compensation.
It also comes as the music streaming industry continues to evolve, with the latest trend now focused on fan investment. New platforms now allow fans to become investors in their favorite artists, sharing in their success and reaping financial rewards alongside them.
In May, Tuned Global collaborated with Revelator, a digital IP infrastructure provider for music, to incorporate NFTs into music streaming platforms. This collaboration allowed Tuned Global customers to create, sell, distribute, report, and monitor music NFTs.
Audius, a music streaming service based in California, is another participant in this arena, providing “superfans” the chance to pay a premium for exclusive access to digital products from their preferred artists.
Music Business Worldwide
