Riassunto analitico
A partire dalla metà degli anni 90, la rivoluzione digitale ha portato a mettere in discussione il ruolo degli intermediari. La nascita di Internet ha portato a previsioni di disintermediazione dei player tradizionali, rivelatesi poi, nella gran parte dei casi, infondate. Il risultato maggiore della rivoluzione digitale è stato infatti una diffusa reintermediazione, soprattutto causata dalla nascita delle platforms, veri e propri intermediari digitali capaci di sfruttare i network effects per ottenere la loro posizione sul mercato. La tecnologia Blockchain si inserisce nel contesto digitale offrendo la possibilità di superare le problematiche legate alla mancanza di trasparenza che continuano a caratterizzare la supply chain. I concetti di ledger distribuito, fiducia decentralizzata e la tecnologia legata agli smart contracts, permettono la creazione di un ecosistema digitale caratterizzato dall'assenza di intermediari. Questa tesi riguarda in particolare l'impatto che la Blockchain potrebbe avere sul mercato musicale. Questo infatti è stato profondamente colpito dalla rivoluzione digitale, che ha portato all'introduzione di nuovi players senza però andare a intaccare il controllo che le etichette discografiche e gli altri intermediari tradizionali continuano a esercitare sull'industria. Nello scenario attuale gli artisti rimangono il punto debole della supply chain. Di fatto, sono coloro che subiscono gli effetti della mancanza di trasparenza che caratterizza i meccanismi tramite i quali vengono gestite le royalties maturare dai loro diritti. In questo senso l'impatto della blockchain può essere decisivo nell'offrire ai creatori nuovo potere e controllo sulle proprie opere, permettendo la creazione di un rapporto diretto e trasparente con i consumatori. Nonostante questo però, i player tradizionali, già tardivi nel reagire alla rivoluzione digitale, difficilmente rimarranno a guardare.
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Abstract
The Blockchain technology, introduced in 2008 by Satoshi Nakamoto, is proposed as a new evolution of the digital reality produced by the introduction of IT technologies in the mid-90s. Thanks to the concepts of distributed ledger, decentralized trust and technology linked to smart contracts, the blockchain allows the creation of a digital ecosystem characterized by the absence of intermediaries. This thesis concerns in particular the impact that the Blockchain could have on the music market. In fact, this has been deeply affected by the digital revolution, which has led to the introduction of new players without going to undermine the control that record labels and other traditional intermediaries continue to exercise on the industry. In the current scenario, artists remain the weak point of the supply chain; in fact, they are those who suffer the effects of the lack of transparency that characterize the mechanisms by which royalties accrued by their rights are managed. In this sense, the impact of the blockchain can be decisive in offering creators new power and control over their works, allowing the creation of a direct and transparent relationship with consumers.
In the first chapter, the concepts of supply chain and value chain will be presented, with the various members and functions that characterize them, with particular attention to the concept of intermediation. The role of intermediaries will be analyzed in its evolution, taking into consideration the literature concerning the concepts of disintermediation and reintermediation that have affected the supply chain with the introduction of IT technologies. Finally, the main features of the platforms will be presented, which is the main product of the digital revolution. In the second chapter, blockchain technology will be analyzed. Starting from the concepts related to the lack of transparency and trust in the supply chain, in particular the technical characteristics that characterize the blockchain and the principles that underlie its development will be taken into consideration. Furthermore, some of the fields in which the blockchain has already been applied will be presented. In the third chapter the music industry will be taken into consideration. The same will be analyzed from a historical point of view, considering the first developments and processes of disintermediation and reintermediation triggered by the digital revolution, until the birth of the recent streaming services. In this sense, the changes suffered by the music industry supply chain will be presented. Finally, data on the economic performance of the music market will be reported, with particular attention to the digital market. The fourth chapter will focus on the problems related to the lack of transparency that characterizes the distribution of royalties to artists. The different types of royalties distributed to the artists will be analyzed, taking into consideration the situation of the United States, which represent the largest market in the music industry worldwide. Moreover, the position of the record labels, the nature of the relationships that bind record labels and streaming services, and other issues related to royalties protected by copyright will be taken into consideration. In the fifth and last chapter some examples of music platforms based on blockchain technology will be considered, starting from the advantages that it offers on a general level, highlighting the disintermediation prospects that the individual platforms offer and the advantages they offer to the artists. At the same time it will be taken into consideration the position of traditional intermediaries compared to the blockchain.
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