A huge part of operating expenses for those in the music streaming business is the paying out of royalties to all copyright holders and ensuring your database is up to date with the most recent information – especially copyright ownership
There are three main ways in which your company can make use of SOUNDAC:
You can consult the SOUNDAC database merely to know who to pay and then send payments to the copyright holders in the traditional way. Ex: Wire transfer or mailing a check
You can send funds directly through the SOUNDAC system, ensuring speed, transparency and accuracy of payments. All without transaction fees.
The third, and most beneficial method (for all parties) is for you to opt in to the real-time reporting of streams to SOUNDAC, allowing the Blockchain to take care of making the royalty payments. This method leverages SOUNDAC to its fullest since both streams and royalty payments are handled ‘on chain’.
If you go all out with option 3, your application can literally just be a front end for the SOUNDAC blockchain, effectively offloading most of your business's costs to it. All while retaining 100% control of your business! No need to update or maintain your database. No need to hold customer funds. No need to use any of your income to pay for royalties. SOUNDAC handles all of it at no cost to your business. Simply push out your stream reports to SOUNDAC and it will take care of everything.