Do Music Artists in Korea View Blockchain as a Real Revenue Opportunity?

The paper titled “Do artists perceive blockchain as a new revenue opportunity? A social representation study of the Korean music industry” (2024) by Yujun Park & Seongcheol Kim investigates how music artists in Korea view blockchain technology, particularly whether they see it as a viable new revenue path.

Two key revenue angles were explored:

• Using blockchain to disintermediate royalty distribution (i.e., reduce or remove middlemen in how artists get paid)

• Using blockchain / NFTs to open new revenue channels for artists.

🎵 What This Study Is About

The paper titled “Do artists perceive blockchain as a new revenue opportunity? A social representation study of the Korean music industry” (2024) by Yujun Park & Seongcheol Kim investigates how music artists in Korea view blockchain technology—particularly whether they see it as a viable new revenue path. Nature+1
The study uses interviews with 16 Korean artists and applies social representation theory to map their perceptions. pure.korea.ac.kr+1
Two key revenue angles were explored:

• Using blockchain to disintermediate royalty distribution (i.e., reduce or remove middlemen in how artists get paid) Nature+1

• Using blockchain / NFTs to open new revenue channels for artists. Nature+1

Key Insights

• Artists see the opportunity:

  • Many participants believe blockchain could offer something new: more fair royalty distribution, direct connection with fans, NFTs as extra income. For example:

    “The distributors and music streaming platforms are taking too much share just by delivering music … I believe removal of intermediaries through disintermediation may not only increase financial income but also the value of music itself.”

• But they’re also sceptical:

  • The notion of blockchain transforming their income is met with realism: artists feel many structural issues remain. For example: they doubt whether large intermediaries will allow disruption, and note low public awareness and crypto / NFT market issues.

• Core themes identified:

  • The study used a “core-periphery” network map of how artists talk about blockchain. The three core topics: Opportunity, Infeasibility of disintermediation, and Expected benefits.

• Barriers noted by artists:

  • Lack of public understanding and awareness of blockchain in music.

  • Artists themselves often feel they don’t fully grasp blockchain/NFT tech or see its stable benefits yet.

  • Reliance on dominant industry actors (labels, streaming services) may hamper the disruptive potential of blockchain unless they collaborate.

Why This Matters

For Investors

• Investing in music-blockchain platforms or NFT music ventures is about artist perceptions, industry structure, and adoption barriers.

• Projects that address both the royalty distribution pain-point and the artist’s real concerns (awareness, trust, tech access) might be stronger bets.

• The Korean market case suggests high interest but also high scepticism so risk of over-promise is real.

For Builders

• If you’re building a blockchain platform for music: prioritise usability and artist-education. It’s not enough to build the tech; artists must understand and trust it.

• Consider designing for collaboration with existing streaming services or distributors rather than full disruption because artists believe major actors will need to be involved.

• NFT-based revenue channels are interesting, but you’ll need to manage fan awareness, rarity / ownership issues, and regulatory context for markets like Korea.

For Marketers

• Your messaging should highlight how blockchain can give artists more control and better income but also show realistic steps and credibility (not just hype).

• Target messaging to both artists and fans: artists get income/control; fans get exclusive content/NFTs.

• In markets like Korea, talk about fairness, transparency and empowerment. These themes resonate with artists’ actual concerns.

⚠️ Limitations & Strategic Cautions

• The study is qualitative, based on 16 artists in Korea so findings may not generalise globally or to major superstar artists vs independent ones.

• It measures perceptions and intentions, not long-term adoption or financial outcomes of blockchain deployment. What artists believe may differ from what they do.

• The ecosystem (blockchain/NFT market, fan base behaviour, regulation) is changing rapidly so perceptions today may shift quickly.

• Technical, legal and cultural barriers remain (e.g., NFT viability, royalty transparency, crypto volatility) meaning the “opportunity” may take time to materialise.

🏁 Final Takeaway

In the Korean music industry context, artists generally see potential in blockchain, especially as a way to earn more, gain fairer treatment and bypass intermediaries.

But they’re also cautious, aware of obstacles, industry inertia, and their own uncertainty about how technology will play out.

For anyone in this space, whether investing, building or marketing, it’s a dual message: yes, there is opportunity, but it’s not automatic.

Success will depend on bridging the gap between promise and practical reality: usability, trust, industry cooperation and understanding.