Warner & Polygon launch Music Accelerator Program
Warner Music Group and Polygon are collaborating once again to help talent hoping to break into the music industry. Navigating the business side of the music industry is a challenge; Despite having talent and success in building a fan base and creating top-notch music, many musicians struggle with understanding the ins and outs of the industry. This lack of understanding is detrimental, as often artists may face negative consequences such as entering restrictive contracts, loss of ownership, and subsequent financial hardship. The hope for change lies in blockchain technology and the advent of Web3. Industry experts are creating solutions that not only provide artists with essential knowledge but also open up new income streams beyond traditional norms. Leading blockchain company Polygon, in collaboration with Warner Music Group, is spearheading a groundbreaking initiative entitled the “Music Accelerator Program”. Aiming to decontextualize how up-and-coming musicians understand the business by providing valuable mentors and resources to navigate its complexities.
This program is undoubtedly at the forefront of merging music with cutting-edge blockchain technology, providing individuals the opportunity to utilize the power of decentralized applications (often referred to as dApps). This initiative strives to empower artists by bridging the divide between creativity and funding. All projects created under this program will be exclusively on the Polygon network, providing the necessary resources for artists to thrive. According to Oana Ruxandra, the Chief Digital Officer and EVP of Business Development at WMG, the initiative is “focused on enabling its artists and songwriters to build, activate, engage, and monetize their communities in this next era of music creation and consumption“.
Warner Music is currently seeking individuals and companies who are interested in applying for their program. They are specifically looking for those who are innovative and operate within the intersection of music, technology, and Web3. Applicants should focus on areas such as creating artist-fan communities, establishing decentralized music production and distribution systems, innovating ticketing solutions, exploring music-related merchandise and collectibles, and integrating music with interactive technology and gaming. The application process is ongoing, which allows potential candidates to submit their business proposals at any time. To apply, applicants must present a pitch deck that communicates their ideas, tangible evidence of business success, and a comprehensive breakdown of funds that outlines how financial support will be used in their music-centric endeavors. Successful applicants will receive financial backing from both Warner Music Group and Polygon Labs, as well as personalized guidance from top executives in the music and technology industries. Additionally, participants will have access to quarterly check-ins and marketing and promotional resources to increase awareness of their work.
The music accelerator program aims to empower the next generation of creative individuals to take charge of their work and contribute to the culture. It goes beyond offering financial assistance and resources, serving as an inspiration for the entire music industry to adopt Web3 practices, thus fostering a new era of innovation and creativity. This program has the potential to transform artists from mere talents into influential leaders and key players in the music industry beyond 2023. The music accelerator program sets the foundation for the next generation of creatives to take control of their work and contributions to the culture. Beyond providing capital and resources, this initiative will serve as an inspiration for the entire music industry to adopt Web3 practices, spurring a new era of innovation and creativity. As this transformative program continues to make waves, it has the potential to elevate artists from mere talent to empowered leaders and keyholders in the music industry of 2023 and beyond.
Apply to the Warner Music and Polygon Music Accelerator Program here.
Image credits: Warner Music Group