The Utopia Genesis Foundation is in the midst of changing the music industry. Its innovative technologies and resources allow artists, managers, record labels, and executives to help market their music more effectively and see how it is influenced in various parts of the world. Not only that, but the data and technologies used also allow artists to collaborate with their fans and help managers plan out upcoming tour schedules.
They are currently on a mission to unlock a more transparent music environment for all involved and have recently promoted the brand with its innovative livestream events. Playing host to some of the most revered artists in dance music including Carl Cox, Steve Aoki, Fedde Le Grand, Benny Benassi among numerous others, Utopia Genesis Foundation is well on its way to making an indelible mark on the music business.
We had the immense pleasure of having the opportunity to speak with Hatem Hachana, COO of the Utopia Genesis Foundation, to learn more about what their services provide and how they aim to change the music industry that we now know.
How does the Utopia Genesis Foundation provide technologies and resources to help the advancement of the music industry?
Utopia Genesis Foundation will first work to provide every stakeholder in the music industry with the technologies and resources required to improve how revenue streams are tracked, traced, and processed. Members of the Foundation will have open access to industry-leading data to understand consumption trends, insights, and more through a self-service portal.
As we continue building out our offering, we’ve started working closely with leading blockchain technology solutions like STOKR and Terra Virtua to launch gateways for artists, songwriters, producers, record labels, performance and artist rights organizations (PRO) to collaborate with fans on commercial projects.
These are a few examples of the suite of tools that the Foundation aims to bring to market.
Which area of the music industry is currently performing best amidst the COVID-19 pandemic?
Streaming platforms have been really the only area of the music industry that saw immense success during COVID-19. Spotify now has 30% more paid subscribers than in 2019. While streaming platforms are raking in money during the pandemic, it is raising concerns about artists being underpaid for their work. This is one of the main missions of Utopia, to ensure that artists are paid fairly for their work in the industry and do not lose major portions of their payment to the industry giants.
What kind of data do you provide record labels with to selectively plan out their artist tours?
Record labels are able to easily access geographic consumption data from more than 150 countries through the Utopia Genesis Foundation. This data is so valuable as labels will be able to plan their artist’s tours more selectively as they can see where the artist is succeeding and is wanted by fans.
How do artist applications help to optimize and streamline releases for promotion?
Artists and owners of the music will be able to sell a share of their work’s copyright revenue to the community, and the UOP will then be able to provide the music consumption data in order to keep track of the song.
How did your partnership with STOKR come about?
STOKR is the best platform and the only one that is able to create security tokens. It is also the only company in Europe with the proper license to do so. Utopia Genesis Foundation knew it was a good idea to team up with the best from the start!
You have hosted a slew of top electronic music artists including Carl Cox, Steve Aoki, Fedde Le Grand, Benny Benassi among numerous others to perform for your livestream events. Do these artists currently use Utopia Genesis Foundation’s information and resources?
Unfortunately, we cannot say who, but some of these artists have requested and received the data regarding the players of their songs, and also found out which radio stations and where in the world their songs were being played. It was very interesting because in some instances these famous artists had no idea which song of theirs was most played on radio stations and also were shocked by which countries they were more popular in!
Can you reveal any upcoming artists who will be performing next on the livestream series?
Right now, we are working on connecting mid-sized artists to Utopia Genesis Foundation. We also want to continue to promote the artists that we have already collaborated with.
How are you planning to grow the Utopia Genesis Foundation initiative?
We will show everyone involved in the music industry that we are here to help all involved and we also want to make it profitable for everyone. We will do this by opening up opportunities for artists to offer fans the opportunity to be investors in their music together with the labels.
What are the near/distant goals for the Utopia Genesis Foundation?
We want to create the largest music exchange platform so every fan can own a piece of their favorite artist or song. By allowing fans the opportunity to invest in their favorite artist– be it by song ownership, merch, or tour ownership, both fans, the artist, and the record label will all receive revenue.
The Utopia Genesis Foundation will also be launching multiple applications on the Utopia Open Platform, like the Genesis Application which will allow artists to sell a share of their work’s copyright revenue, the release of insight which will allow for data visualization and the release of the Toplist. The toplist is a list of different top songs on radio stations which will depend on the genre, location, etc. Artists will be able to see how they are performing in select areas or in select genres to better understand the performance of their music.
By using these applications and data, the Utopia Genesis Foundation aims to unlock a more transparent and open music ecosystem for all involved.
For additional information regarding the Utopia Genesis Foundation and its services, please visit its official website.
