Blockchain allows artists to cut out any sort of middle-man between them and their fans; metadata recorded on the blockchain with a song serves the purpose of a publishing firm (one which the entire world accepts as accurate and valid. There are different publishing records around the world and there is no reason for any of them to accept data from another record), smart contracts ensure artists are compensated more fairly than a record label would.
A smart contract could allow artists to stipulate that fans who actively shared that artist’s music automatically receive some amount from the revenue associated with that song. This feature could allow a tighter relationship to develop between an artist and her fans, and incentivise cooperation and outreach by both parties.
Blockchain’s smart contract has already been used practically by an artist named Imogen Heap, who partnered with a startup called Ujo Music to give fans the option to purchase a song with Ether. Fans who made this purchase with the cryptocurrency gave more money to the artist via the smart contract feature. This experiment proved that music can be sold with more accountability and transparency using blockchain.