Career Control 2
Recently I came across another interesting article http://tinyurl.com/lfwpj9 about how artists/bands can circumvent record labels and traditional music business models and make money themselves through the use of social media. Although the concepts seem logical and forthcoming the sad reality is there are unfortunately several common counter-arguments.
First of all, some artists, musicians and bands simply don’t want to waste their time doing all of that. Some are unable to do it. Some simply don’t resonate with social media that well.
Well, whenever there’s a gap, a new business opportunity arises. Radiohead’s manager Brian Message, has a new business venture called Polyphonic, which will invest money in upcoming artists, helping them connect with their audience on the Internet. It makes sense: if you can’t/won’t do it, you can try and find a manager who can.
Now, why might this work? Because the major record labels:
a)don’t know how to do it,
b)are more busy suing end users for pirating a couple of songs than developing new business models and
c)are generally more interested in the next disposable one hit wonder than in quality artists who can really connect with their audience.
Here’s how it works: Polyphonic will invest in bands and artist across various musical genres, whom in turn will operate like startups, dealing mostly with contractors to handle various aspects of a band’s work, such as merchandising, tours, publicity, recording etc. They will share profits from their music and tours, but – and this is the really important part – they get to keep copyrights and master recordings. It’s about royalties, of course, but it’s also about controlling what happens to your own music, something that has troubled many artists, past and present, when they’ve dealt with major labels.
Polyphonic has raised $20 million in initial capital and plans to approach private investors again if their business model turns out to be a good one. Hopefully, it and other similar companies will bring a fresh breeze to the stale mess that music industry is today.
Nate Anderson is an Artist Manager and Music Business Consultant for SuperStar Entertainment Group, Inc based in Chicago, Illinois. He is available for private consultations regarding career development and artist representation. He can be reached by email at: managementmoves@gmail.com
First of all, some artists, musicians and bands simply don’t want to waste their time doing all of that. Some are unable to do it. Some simply don’t resonate with social media that well.
Well, whenever there’s a gap, a new business opportunity arises. Radiohead’s manager Brian Message, has a new business venture called Polyphonic, which will invest money in upcoming artists, helping them connect with their audience on the Internet. It makes sense: if you can’t/won’t do it, you can try and find a manager who can.
Now, why might this work? Because the major record labels:
a)don’t know how to do it,
b)are more busy suing end users for pirating a couple of songs than developing new business models and
c)are generally more interested in the next disposable one hit wonder than in quality artists who can really connect with their audience.
Here’s how it works: Polyphonic will invest in bands and artist across various musical genres, whom in turn will operate like startups, dealing mostly with contractors to handle various aspects of a band’s work, such as merchandising, tours, publicity, recording etc. They will share profits from their music and tours, but – and this is the really important part – they get to keep copyrights and master recordings. It’s about royalties, of course, but it’s also about controlling what happens to your own music, something that has troubled many artists, past and present, when they’ve dealt with major labels.
Polyphonic has raised $20 million in initial capital and plans to approach private investors again if their business model turns out to be a good one. Hopefully, it and other similar companies will bring a fresh breeze to the stale mess that music industry is today.
Nate Anderson is an Artist Manager and Music Business Consultant for SuperStar Entertainment Group, Inc based in Chicago, Illinois. He is available for private consultations regarding career development and artist representation. He can be reached by email at: managementmoves@gmail.com
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