Episode 76 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro, Audius Co-Founder Roneil Rumburg and Grammy award winning DJ and Audius Advisor, RAC.
Over the course of the past two decades, Grammy Award-winning DJ, André Allen Anjos (also known as RAC) has noticed a growing trend.
"There's been a trend since 2005 in the MySpace era, and all of that has been a trend towards sovereignty of an artist, of putting the artists on top," he says.
RAC is an advisor to Audius — a decentralized music streaming platform that raised $5 million last September from big names including Coinbase Ventures and Pantera Capital, along with popular artists such as Jason Derulo and Katy Perry.
In this episode of The Scoop, RAC and Audius Co-Founder and CEO Roneil Rumburg examine the limitations of centralized music streaming platforms and explain how data ownership in web3 allows artists to redefine their relationship to their fans.
Rumburg argues that centralized streaming platforms prevent artists from establishing a direct connection with their fanbase.
"There shouldn't be this sense of 'platform lock-in' that we have today on Spotify or places like that where, as a creator, you don't really know who your fans are, and you don't have the ability to port that fan base between experiences."
RAC has first-hand experience with this problem: while the DJ has 5.5 million followers on SoundCloud, his fanbase is "locked" into the platform. Artists "don't own that connection in any way," he says.
Audius is designed to avoid that, according to Rumburg.
"Our company could go away tomorrow, and all of this would keep working… From the artist's perspective, there's no lock in here. You can take your following and your data that you have here and use it anywhere else."
During this episode, Chaparro, RAC, and Rumburg also discuss:
- How token price affects user growth
- Recovering from the $AUDIO hack
- RAC's personal crypto journey
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