Soundwork Whitepaper
  • 🎼Index
  • πŸ’‘Abstract
  • πŸ˜–Problem Statement
  • πŸͺ„Solution Overview
  • πŸ“ŠMarket Analysis
    • 🎚️Music Market Landscape
    • πŸ–ΌοΈThe Role of NFTs in Music
    • πŸ’ŽUnique Value Proposition
  • 🎢Platform Deepdive
    • 🎹SNFT - Sound NFT Standard
    • πŸ›’Soundwork MarketPlace
    • ☁️AI-Powered Developer API
    • πŸ“±AI Music-Maker App
    • πŸ’°Web3 Rewards Engine
  • πŸͺ™$SOUND Token
    • 🧠Rationale
    • βš’οΈUtility
    • πŸ›οΈGovernance
    • πŸ’ΈSettlement
    • πŸ₯§Tokenomics
  • πŸ—ΊοΈRoadmap
  • πŸŽ™οΈConclusion
  • 🌍Official Links
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  1. Market Analysis

Music Market Landscape

The Current State of the Music Industry

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Last updated 1 year ago

The current state of the music industry is characterized by significant growth driven primarily by streaming services. With a projected worth of $30.7 billion in 2024 and an estimated growth rate exceeding 8.5% to reach $45.65 billion by 2029, according to . Streaming platforms like Spotify, Apple Music, and Amazon Music are key contributors to this expansion. Factors such as internet penetration and mobile device usage continue to fuel the adoption of streaming services.


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Mordor Intelligence
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Mordor Intelligence