Dr. Luke's publishing company, Prescription Songs, has announced that songwriters will have the ability to receive royalty payments in Bitcoin going forward.

The organization took to social media today to announce the groundbreaking move, stating that they are the first publishing company to offer its creators such a compensation option.

According to the producer, the idea soon became a no-brainer after multiple creators began inquiring about the possibility of being paid in Bitcoin. The transactions will be conducted by bitcoin payment services provider, Bitpay, according to Digital Music News.

"Prescription Songs has always been an industry leader providing the best services to our songwriters, producers and artists," Dr. Luke said in a statement. "Some of our creators asked about being paid in Bitcoin so we wanted to get ahead of the pack and provide that service. BitPay is such a powerhouse in Bitcoin. I’m excited to work with them in the music space."

Recommended Articles

Mr. Black

MR.BLACK Hits Hard on New Single "Acid Rave"

Acid, Rave, Love, Generation - Repeat.

Alison Wonderland

Alison Wonderland Lights Up Lollapalooza With Unreleased Remix of Olivia Rodrigo's "Good 4 You"

The remix, produced with QUIX, was one of the highlights of Alison Wonderland's larger-than-life Lollapalooza set.

Burning Man Project Question in the dust

Burning Man Goes Rogue: Unofficial Event is Moving Forward in Black Rock City

"Bring everything you need for Radical Self Reliance."

The past six months have been a landmark period for Bitcoin adoption, and titans of industry have gravitated toward the world's largest cryptocurrency asset in droves. 

While it's a relatively new practice, the embrace of bitcoin as a compensation option has also generally paid off handsomely for those who've taken the leap. For Example, Carolina Panthers offensive tackle Russell Okung opted to receive half of his $13M salary in Bitcoin late last year. Following his $7.6 million return from Bitcoin's meteoric rise, Okung is now among the highest paid players in the NFL for his position.

Related

guetta apartment setai

David Guetta is Accepting Bitcoin and Ethereum as Payment for $14 Million Miami Condo

The global superstar DJ will accept offers for his apartment in cryptocurrency.

Eya768pUUAImxwn

A Bitcoin-Inspired Artist Has Launched a Micropayment Plugin for DJs and Music Producers

Cryptograffiti believes that's Bitcoin's ability to create new revenue streams "will rebalance power in all sorts of industries."

bitcoin crypto

Beatport to Accept Bitcoin as Payment, Launches Collaborative NFT Partnership With Crypto.com

Beatport's "Music For Future Dancefloors" NFT series features Boys Noize, Charlotte De Witte, and more.

EXIT Festival

Serbia's EXIT Festival Now Accepts Bitcoin as Payment for Tickets

“The potential of blockchain, digital exchange and currency is exciting and we wanted to make sure we are at the forefront."

3lau

3LAU to Perform DJ Set in Miami During World's Largest Cryptocurrency Conference

3LAU will perform a DJ set to coincide with Bitcoin 2021, which organizers are calling "the largest Bitcoin event in history."

spotify-icon-ios

Spotify to Offer Algorithm Visibility Boost in Exchange for Royalty Cut

The new"experiment" has drawn criticism from artists and fans alike.

Navigating the songwriting process and staying out of legal trouble

The COVID-19 Impact on Publishers and Songwriters—A Look Ahead to 2021

What does the post-COVID-19 musical landscape hold for music publishers and songwriters?

chainsmokers

Crypto Security Company Casa Launches Bitcoin Wallet Backed by The Chainsmokers

The Chainsmokers recently flapped their wings as angel investors.