Hip-hop icon Snoop Dogg has been making waves in the music industry for decades, and his latest move is causing quite a stir. With nearly 30 million monthly listeners on Spotify, Snoop is now shifting his entire music catalog to Tune.FM, a Web3 streaming platform built on Hedera’s blockchain. This decision comes on the heels of his latest single, “Spaceship Party,” which was released on February 28.
Snoop’s decision to leave Spotify and move to Tune.FM stems from his dissatisfaction with Spotify’s payment model. In a recent podcast interview, Snoop revealed that despite garnering over a billion streams on Spotify, he earned less than $45,000. This disparity in earnings prompted Snoop to seek out a platform that offers fairer compensation to artists.
Tune.FM aims to revolutionize the music industry by giving power back to the artists. Using a native cryptocurrency called JAM, Tune.FM offers per-second payouts to artists, ensuring that they receive immediate compensation for every play of their music. This direct payment model differs from traditional streaming platforms that can take months to distribute earnings, providing artists with a faster and more transparent revenue stream.
The tension between Snoop and Spotify highlights a broader issue within the music industry, where streaming platforms often retain the majority of profits, leaving artists with minimal returns. Snoop’s departure from Spotify and move to Tune.FM has sparked discussions about alternative platforms that prioritize artist compensation and transparency.
Tune.FM, built on Hedera’s Hashgraph, offers more than just streaming services. It also serves as an NFT marketplace, allowing artists to mint unique digital assets tied to their music and merchandise. With transactions processed in seconds and minimal fees, Tune.FM provides creators with a platform to showcase and monetize their work effectively.
The official token on Tune.FM, JAM, powers the platform’s payment system, enabling fans to directly support artists by streaming their music. This direct payment model resonates with Snoop, who has been a vocal advocate for blockchain and NFT technology in the music industry.
Snoop’s move to Tune.FM may signal a shift in the music industry’s streaming landscape, encouraging other artists to seek out fairer compensation models. If Tune.FM proves successful in delivering equitable earnings to artists, it could pave the way for a more artist-centric approach to streaming platforms. This shift may also prompt major platforms to reevaluate their payment structures to retain top talent and appeal to a growing audience of users who value direct support for artists.