DJ Gramatik used Blockchain technology to raise $2 million in 24 hours

Hey all, I came across this article a while back and thought it presented a real potential to shake up the music industry.

For decades now, the music industry has been monopolized by the record labels. Gramatik's use of the Ethereum-based, Tokit, shows how musicians can not only take control over their own profits, but also reach fans directly and basically sidestep the record companies.

I personally love this idea.

Here's the link to the article: http://www.bbc.co.uk/news/42337546

What do you guys think? Does new tech like blockchain present a new way for musicians to reach their fans, make their own money, and release themselves from the stranglehold of the record industry?