Warner Chappell Music is the first major music publisher to enter the Web3 market with a new arrangement with Defiant, a Web3 entertainment incubator. The agreement will enable the Warner Chappell roster, which includes Bruno Mars, David Bowie, Katy Perry, and Lizzo, to use blockchain technology via digital things, events, and collectibles.
The first effort is a digital museum titled “The Archives” that will feature composers through an exhibition of music, artwork, and memorabilia relating to the creation of songs. The launch is expected at the beginning of 2023. In addition, users of a limited-edition NFT Mint Pass will have access to drops, auctions, and virtual experiences that have been meticulously curated.
WCM believes that the partnership will create new revenue sources for the publisher. The Senior Vice President of Creative Services at WCM stated, “By embracing the power of blockchain technology, we can create impressive new revenue streams and creative opportunities for our songwriters while giving music fans access to unique experiences.” Ashley Vinton: “Sydney [Swift], the company’s founder and CEO, and their entire defiant team are not only subject-matter experts in this field, but they also have an extensive background in music and understand how to support composers’ voices.
Defient is a Web3 incubator with experience in both the emerging NFT sector and the music industry. The Grammy-nominated producer Sydney Swift established the Web3 record label ChillRx, which has earned over $1 million since its inception in February 2022, in large part because of Defient.
Swift stated, “We are happy to collaborate with Warner Chappell as they diversify into the Web3 arena, where Defiant is already so well-established.” After beginning a profession, it’s exciting to be a part of this. Works with a forward-thinking partner to make it easier and more accessible for songwriters and artists to use the Web3 platform. Collectively, we want to harness technology to support and elevate creatives’ brands.
10:22 PM Major labels have already made the move to NFTs via dedicated web 3 imprints such as Universal Music Group and possibly a label from Warner Records UK. WCM believes that blockchain technology will provide its composers with new opportunities despite publishers’ reluctance. Cow Moot, co-chairman and chief executive officer of WCM, and Carrion Marshall, co-president and chief operating officer, said in a joint statement, “This is a unique opportunity to shape the future of music publishing.” “With the support of Defiant, we will be able to open new avenues in Web 3 on behalf of our songwriters and find different ways for them to grow their legacies and connect with fans.”