Blockchain Breaks Doors in the Electronic Music Community by Cointelegraph

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Electronic music is big business. according to Report By the International Music Summit, in 2021, the electronic music sector will be worth $6 billion, and the sector is poised for further significant growth. That $6 billion figure represents a 71% increase over the industry’s valuation in 2020, which was understandably much smaller due to the effects of the pandemic. While revenue is down from what it was in 2019, barring more massive disruptions, in 2022 the industry is on track to surpass its pre-pandemic heights.

This should be great news for artists and music lovers alike, but there is a caveat. As electronic music continues to thrive, access to festivals and concerts—the heart of the electronic music scene—has become increasingly exclusive. The price of concert tickets has gone up across the board in the entire music industry. Earlier this year, an uproar erupted when tickets to a visit by Bruce Springsteen, an artist with a committed working-class following, sold out at outrageous prices. Algorithms used by ticketing platforms have been blamed for the price hike, but this was not an isolated incident.

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