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Maria “Mechas” Mercedes Montejo has joined Sony Music Latin-Iberia as managing director of the Andean region (which includes Colombia, Ecuador, Peru and Venezuela), Billboard has learned. She replaces Adriana Restrepo, who has joined the leadership team of the International Federation of the Phonographic Industry, or IFPI.
Montejo will report directly to Damián Amato, who is overseeing Sony Music Latin’s now unified South American operations. The Buenos Aires-based executive, who’s been with Sony Music for the past two decades, was previously general director for the southernmost cone of the regional including Argentina, Chile, Uruguay and Paraguay.
“This new structure is part of our ongoing transformation efforts to make Sony Music the most dynamic, efficient and nimble organization that can respond quickly to the needs of a dynamic and ever-changing industry”, Afo Verde, chairman & CEO of Sony Music Latin-Iberia, said about the leadership shakeup.
Verde added: “I am very grateful to Adriana for all her efforts and contributions to this important part of our region, both artistically and commercially. Fortunately, we have a strong successor in Mechas, who has broad experience in the industry and the Andean region. I am confident that she will build upon the success and trajectory of the region. I’m also grateful to Damian for taking on this broader role. Without a doubt the artists, Mechas and the incredible Andean team will enjoy and benefit from his leadership.”
Before joining Sony Music, Montejo was the general manager for Warner Music Latin, where she “leveraged her experience and insight” of the Latin American music industry, according to a statement.
Dr. Dre’s solo debut album, The Chronic, is celebrating its 30th anniversary with a special re-release on Interscope Records and a return to streaming services after nearly a year away. “I am thrilled to bring The Chronic home to its original distribution partner, Interscope Records,” says Dre in a press release, adding that working with the label “to re-release the album and make it available to fans all over the world is a full circle moment for me.”
Steve Berman, vice chairman of Interscope Geffen A&M, expressed similar excitement, saying: “Dr. Dre is without a doubt one of the most iconic and groundbreaking artists in the modern era. He has also used his platform to fuel some very impactful philanthropic efforts that will ensure his legacy is felt for generations to come. Dre’s solo career all started with the The Chronic, one of the most celebrated recordings of all time. To have this album at Interscope once again where we work with Dre and his amazing team at Aftermath day in and day out is incredibly gratifying for me personally and all of us at Interscope.”
Earlier this month, Billboard reported that Dre sold his music assets to Universal Music and Shamrock Holdings for a deal estimated to be $200 million. According to sources, the assets include mainly passive income streams, such as artist royalties from two of his solo albums and his share of N.W.A. artist royalties; his producer royalties; and more. The Chronic had long been available on streaming services but was pulled, along with several other Death Row classics, after Snoop Dogg purchased the label early last year.
Considered one of the most storied albums in hip-hop, The Chronic had a splashy debut on the Billboard 200, entering the charts at No. 3. Released in 1992 on Death Row Records / Interscope, Dre’s magnum opus earned three Hot 100 top 40 hits, “most notably “Nothin’ But a “G” Thang,” which peaked at No. 2.
John Janick, chairman of Interscope Geffen A&M, said: “From my first day at Interscope the significance of Dr. Dre as a foundational artist at this label was incredibly important to me. We take our responsibility to Dre and his amazing body of work very seriously and we are honored to work closely with him on this re-release of one of the most important albums of all time.”
MUSIC, a holding company co-founded by SONGS Music Publishing founder Matt Pincus, has invested in LVRN (Love Renaissance), the Atlanta-based label and management company behind R&B recording artists Summer Walker, 6lack and BRS Kash.
The investment values LVRN at more than $100 million. Pincus declined to reveal the amount of the investment but disclosed to Billboard that he’s invested a total of $80 million across four deals — including Kobalt, U.K.-based ticketing company Dice and Mayk.it, an AI generative platform — in amounts ranging from $10 million to $40 million. The size of the LVRN investment is “over the midpoint of that range,” he says.
LVRN is expected to use the new capital to expand benefits and programs for its employees while continuing to expand internationally, with a focus on the U.K. and West Africa.
LVRN was founded in 2012 by Georgia State University students Carlon Ramong, Justice Baiden, Junia Abaidoo, Sean Famoso McNichol and Tunde Balogun. Its management clients include dvsn, a Toronto R&B duo signed to Drake‘s OVO Sound label. LVRN’s label is distributed through Universal Music Group’s Interscope Records. It also has a publishing partnership with Warner Chappell Music.
Pincus says he was attracted to LVRN for its combination of youth and experience. “They’re just really good,” he says of LVRN’s founding team. “Young and seasoned is really hard to find.” The co-founders, who were joined by former Capitol Music Group executive Amber Grimes as executive vp/gm in 2022, have built solid relationships throughout the industry, he adds. “They’ve done a good job at championing their artists but also getting people to champion them because they’re good people.”
Pincus’s MUSIC, a joint venture with merchant bank LionTree, with additional backing from JS Capital Management and Schusterman Family Investments, raised $200 million in May 2022.
Previously, Pincus founded SONGS Music Publishing, which was acquired by Kobalt Capital for a reported $160 million in 2017.
Balogun cited Pincus’s entrepreneurship as a crucial factor in his involvement with LVRN. “His hard-earned expertise makes him a very valuable resource for LVRN and we are so fortunate to have him play a role in our continued expansion,” he said in a statement. “This infusion of capital will empower us to continue to expand our operations globally and support local Black-founded businesses as we do so.”
Jenifer Mallory has been promoted to president of Columbia Records, the company announced today (Jan. 31). Mallory, who has been executive vp/general manager of the label since 2018, will continue to report to chairman/CEO Ron Perry.
Mallory has been at Columbia Records and Sony Music since 2006, when she joined and rose through a series of marketing roles over the years. She became senior vp of international at Sony in 2015, leading global campaigns for Sony artists at RCA, Columbia and Epic, before rising to executive vp of international three years later, then joining Perry as part of Columbia’s leadership team.
In her new role, she will continue to have oversight of marketing, publicity, digital, brand partnerships, licensing and video departments at Columbia, the company said.
“I’ve had the privilege of spending much of my career at Columbia Records and am proud of what we have achieved over the past few years,” Mallory said in a statement. “I’m thankful to our incredible staff and most importantly our inspiring artists. I’m forever grateful to Ron Perry and [Sony Music chairman] Rob Stringer for entrusting me with this role and their mentorship. I will continue championing our artists and honor Columbia’s legacy.”
This past year, Perry and Mallory oversaw a huge year for Columbia artists like Harry Styles, Beyoncé and Adele, all of whom are up for album of the year at this coming weekend’s Grammy Awards, as well as with a series of younger artists and burgeoning stars like Rosalia, The Kid LAROI and Lil Nas X.
“Jen’s steadfast championing of artists, extraordinary leadership abilities, and unwavering dedication to Columbia Records makes her truly Presidential,” Perry said in a statement.
Baroline Diaz has founded her own label, Great Day Records, in association with Santa Anna and Alamo Records. Formerly vp of A&R at Interscope Records, Diaz will serve as chairwoman of Great Day, which will be based in New York.
The announcement follows the recent launch of Santa Anna, an artist and label services company established by Sony Music Entertainment and Alamo CEO/founder Todd Moscowitz. Under terms of the partnership with Diaz, Great Day’s roster of artists will have access to Santa Anna’s resources and promotional support.
“Baroline is a force to be reckoned with and a major player in the music industry,” said Moscowitz in a statement. “We cannot wait to work alongside her and develop new ways to scale her impressive roster and discover new ways to expand her growing empire.”
Diaz joined Interscope in 2019 as senior director of A&R before receiving her vp stripes a year later. During her tenure at Interscope, she collaborated on projects from DaBaby, Moneybagg Yo, Est Gee, Rob 49 and Lil Poppa, among others. She will continue to manage rapper Babyface Ray.
“I want Great Day Records to bring back real artistry and artist development,” commented Diaz in the Sony press announcement. “I want it to be a label where we are building the next generation of superstars in music, and I feel that Alamo/Santa Anna is going to be the best partner to execute that. They understand my vision and what the future of music is going to look like.”
In honor of #HipHop50, Mass Appeal and Sony Music Entertainment have agreed to partner to celebrate legendary SME artists and highlight Certified — their R&B and Hip-Hop digital catalog program.
According to a press release, “Sony Music and Mass Appeal will work together to showcase the creative excellence of SME’s dynamic talent and their contributions to music history through original content, experiences, merch and product collaborations in connection with Mass Appeal’s campaign leading up to this key milestone in Hip Hop culture.”
Second, Mass Appeal and SME will construct a new content series, Made By Hip-Hop. Set to debut later this year, Made By Hip-Hop will involve influential figures speaking on the genre’s impact and history. Last week, Mass Appeal and SME kicked off their partnership in NYC with the new photo exhibition Hip Hop: Conscious, Unconscious. The event showcased over 200 iconic hip-hop photos from 1972 to 2022 and had tremendous star power as Nas, New York City mayor Eric Adams, Raekwon, N.O.R.E., Styles P, Grandmaster Caz, Melle Mel, Havoc, Fabolous, Maino, Dave East, A-Trak and Ralph McDaniels all attended.
The photo exhibit will remain open to the public until May 21.
Last year, Mass Appeal teamed up with Live Nation Urban for several hip-hop-centric events, including festivals and park jams.
“We are thrilled to partner with the world’s leading live entertainment company to bring fans one-of-a-kind experiences in celebration of hip-hop’s 50th birthday, said Mass Appeal CEO Peter Bittenbender. “We are planning to celebrate all facets of the culture and globe via this dynamic partnership.”
Independent label +1 Records has signed a strategic global partnership with Exceleration Music, the companies announced Wednesday (Jan. 25).
Under the terms of the deal, Exceleration has made an investment in the +1 catalog and will provide support in distribution, marketing, operations, administrative services and more to power the label’s past and future releases. Jonny Kaps, +1 ‘s co-founder and CEO, will continue to lead the label while co-founder Nat Hays Boas is stepping down to pursue other opportunities.
The first new music under the partnership will include releases from Rejjie Snow, Nate Husser, Lo Village and Anna Shoemaker. Additional artists on the +1 roster include Anna of the North, Argonaut & Wasp, DavidTheTragic, Geordie Kieffer, is0kenny and Japan, Man. The label was established in 2008 by Kaps, Boas and Josh Swade; past releases include music by The Heavy and The Kooks.
Launched in January of 2021 by industry veterans Glen Barros, John Burk, Charles Caldas, Amy Dietz and Dave Hansen, Exceleration Music has made a number of big moves in the indie label space over the past two years. Among other deals, the company has invested in labels including Alligator Records, Mom + Pop and SideOneDummy and acquired Bloodshot Records, Kill Rock Stars, Heroic Music Group and jazz label Candid Records. Exceleration also has an agreement with the Ray Charles Foundation for special releases from the music legend’s vault.
Said Kaps in a statement, “+1 Records has always been different. We are an independent record label that comes from a management perspective, specializing in artist development. Our A&R prioritizes music and artists over data. I am so happy to partner with an independent company whose values, philosophies, strategies, and resourcefulness mirror our own. Together we will be an even great resource for independent artists.”
Added Dietz, “Jonny and the +1 team have built a vibrant and impactful label by focusing on artist development and being agile and innovative. From my first meeting with Jonny it was clear his passion, vision, and artist-first ethos, completely aligned with our mission at Exceleration Music. I know that by combining the talented +1 team, with the expertise and resources of the growing and talented Exceleration team, we will together take +1 and its artists into a bright future.”
“Our investment in +1 underscores one primary way in which Exceleration serves the independent music community,” said Barros. “Jonny has done a remarkable job of creating a cutting-edge label. We believe that, with our added human and financial resources, he will have the ability to take the label to the next level and beyond – way beyond! We can’t wait to see what the future holds for this partnership.”
BRISBANE, Australia — Mushroom Group, the Australian independent music juggernaut, has struck a partnership with Valve Sounds, the reactivated alternative-R&B, hip-hop and soul label.
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Co-founded by Sasha Chifura and Shelley Liu, Valve Sounds is “committed to the growth” of those genres within Australia, and “dedicates to carving a space for these artists to make an impact at an international stage,” reads a statement.
With its resurrection, a string of artist signings and a release slate. The Melbourne-based label relaunches with a roster featuring Sydney R&B multi-hyphenate Maina Doe; Nigeria-born, Melbourne-based producer, vocalist, and performer IJALE; and Brisbane indie/R&B newcomer King Ivy.
To celebrate the return of Valve Sounds, the trio will release a special collaborative number, “WYA” (Where You At), next Thursday (Feb. 2).
Mushroom Group has “been looking for the right hip-hop/R&B partner for some time now to complement our other labels,” notes Mushroom Labels COO Chris Maund.
Valve and its co-founders “stood out because they are entrenched in that scene and have a clear vision to break fresh hip-hop/R&B artists globally. Valve are signing artists whose sound is both authentic and borderless, giving them real opportunity to cut-through and deliver internationally,” he tells Billboard.
Maund points to the success of the recent Maina Doe single “Primal Design.” Mushroom Group serviced the track, which went on to land “a load of global playlists,” he explains. “That, will be the start of many.”
Following its launch in 2015, Valve Sounds released recordings from UV Boi, Nasty Mars, ESESE, Villette and Maya Hirasedo, and earned a reputation for its events and parties in Melbourne, spotlighting international and local artists.
Among the highlights were events at Melbourne Music Week’s 2016 and 2017 flagship venues State Library of Victoria and St Paul’s Cathedral, and its team curated a stage at Falls Festival, featured in VICE.
“Some of my fondest memories have been at Valve Sounds parties that we threw back in the day,” recounts Liu. “Feeling grateful to be working with Maina Doe, IJALE and King Ivy – three artists who I truly believe represent the future of music coming out of Australia and beyond.”
Through the new arrangement, Valve Sounds will have access to Mushroom Labels’ full suite of services across marketing, promotion, audience building, social strategy, distribution and analytics as well as global promotion, marketing and audience label services via UMG’s Virgin Music Label & Artist Services, an alliance forged in 2022, in tandem with Mushroom’s existing U.S. and U.K. teams.
Previously, Valve Sounds had a label partnership with Sony Music.
Valve Sounds now operates among the 25-strong group of companies within Mushroom Group, established 50 years ago by the late Michael Gudinski.
Mushroom Group CEO Matt Gudinski, the son of Michael, heaped praised on his new partners. “Their clear vision for the label and expertise in the R&B and hip-hop scene excels them as key industry leaders of the future,” he comments. “It’s with great pleasure we welcome them to the family and look forward to a longstanding relationship.”
Mushroom Labels includes Liberation Records, Ivy League, I OH YOU, Soothsayer, Bloodlines, Liberator Music and 100s + 1000s.
Warner Music Group’s global catalog division has struck a deal to represent Yes’ complete Atlantic Records works, an era that spans 12 studio albums and includes the prog-rock legends’ Grammy Award-winning ‘80s classic 90125.
WMG announced today (Jan. 23) that it has acquired the recorded music rights and income streams to a raft of albums, from 1969’s Yes through the band’s final studio album of its Atlantic/Atco period, 1987’s Big Generator, along with various live recordings and compilations. (See a full list below)
Financial terms weren’t disclosed.
The Rock & Roll Hall of Famers “came together and worked enthusiastically with Warner Music Group to secure this historic deal,” reads a statement from the band, “ensuring that these iconic recordings will continue to be curated in the optimum manner to delight their fans across more than five decades, while also finding and developing new audiences for this timeless music.”
Covered by the acquisition is 90125, the multiplatinum album from 1983 that yielded “Owner of a Lonely Heart,” the biggest hit from Yes’ 50-year-plus career. The single peaked at No. 1 on the Billboard Hot 100, and at No. 28 on the Official U.K. Singles Chart; a 2005 remix, credited to Max Graham vs Yes, went to No. 9 in the U.K., one of the group’s two top 10 hits in their homeland.
Also, an instrumental track from the 90125 album, “Cinema,” went on to win the Grammy Award for best rock instrumental performance.
While Yes did not have any No. 1 albums on the Billboard 200, the band did land seven in the all-genre chart’s top 10: 1971’s Fragile (No. 4), 1972’s Close to the Edge (No. 3), 1973’s Tales From the Topographic Ocean (No. 6), 1974’s Relayer (No. 5), 1977’s Going for the One (No. 8), 1978’s Tormato (No. 10) and 90125 (No. 5) — all of which are covered by the new deal.
Global album sales total 30 million units worldwide, according to WMG.
“My introduction to Yes came while working at a record store in Ohio in 1983,” comments Kevin Gore, Warner Music’s president of global catalog. “I loved the 90125 album and went to see the band live, where I was introduced to their catalog of incredible songs. I’ve been a fan ever since and we’re absolutely thrilled and deeply honored that the strong relationship between Yes and Warner Music will continue forever.”
The Yes lineup evolved much like the group’s music. The 90125 incarnation featured Trevor Rabin on guitar, alongside singer Jon Anderson, late bassist Chris Squire, late drummer Alan White, and original keyboardist Tony Kaye. In 2021, private equity firm Round Hill Music Royalty Fund acquired the music publishing catalogue from Rabin.
Yes entered the Rock Hall in April 2017 at Barclays Center in Brooklyn, NY, on a night when folk icon and social justice activist Joan Baez, string-augmented rock hitmakers Electric Light Orchestra, arena rock titans Journey, grunge pioneers Pearl Jam and West Coast rap god Tupac were all elevated.
Rush bassist and fellow Hall of Famer Geddy Lee inducted the band and joined them onstage for a “crushingly loud” run-through of “Roundabout,” Billboard reported at the time.
Speaking backstage about it, Lee said, “I just wanted to make sure I didn’t f— it up. They are without question my favorite band.”
Yes studio albums, live recordings, and compilations included in the deal:
Yes (1969)Time and a Word (1970)The Yes Album (1971)Fragile (1971)Close to the Edge (1972)Yessongs (1973)Tales from Topographic Oceans (1973)Relayer (1974)Yesterdays (1975)Going for the One (1977)Tormato (1978)Drama (1980)Yesshows (1980)Classic Yes (1981)90125 (1983)9012Live: The Solos (1985)Big Generator (1987)Yesyears (1991)Yesstory (1992)Highlights: The Very Best of Yes (1993)In A Word: Yes (1969-) (2002)Yes Remixes (2003)The Ultimate Yes: 35th Anniversary Collection (2003)The Word Is Live (2005)High Vibration (2013)Progeny: Seven Shows from Seventy-Two (2015)The Steven Wilson Remixes (2018)Topographic Drama: Live Across America (2017)Yes 50 Live (2019)
The music industry was radically reshaped in the three years since Ari Herstand last updated his how-to instruction manual for independent musicians, How to Make it in the New Music Business: Practical Tips on Building a Loyal Following and Making a Living as a Musician, first published in 2016. The pandemic changed how musicians monetize live music, social media apps re-wrote the rules about promoting music and blockchain-based products went mainstream.
“A lot has changed,” says Herstand. “I would say more has changed in the last three years than probably the last 20 years.”
Now in its third edition, How to Make it in the New Music Business has joined Don Passman’s All You Need to Know About the Music Business as a go-to source for navigating the industry’s dire straits. Herstand augments the book with a podcast of the same name and his long-running blog, Ari’s Take, that are informed by his own music career. As a solo artist and the front man of the Los Angeles-based funk band Brassroots District, Herstand understands the tribulations of the working musician.
“It’s not a straight line anymore,” he says about becoming a successful musician in 2023. Marketing and promotion is fragmented. Some artists use TikTok while others reach fans through old-fashioned SMS marketing. Some artists take a traditional path of building a fan base through touring. They have multiple options for crowdfunding and merch sales. Independent artists can follow Herstand’s examples of getting their music used in television, films and advertisements. “There is no one way to create a successful music career.”
How to Make It in the New Music Business has sold well and become regarded as a must-read for musicians. Are you surprised by its success?
I’m grateful that so many people have taken to the book. You know, the reason that I felt I needed to write this was because I had felt there was a void in the industry for manuals and helpful guides for the working musician. There were no books out there helping musicians navigate this new music business. Most of the other music business books that were widely regarded as kind of the go-to music industry Bibles were written by lawyers decades ago, and started with the incorrect premise that the only way to succeed in the music industry is by getting a record contract and a record label.
I hear from musicians every day. I had my book signing last night and so I got to meet and talk to a lot of them. People have told me how much the book has really helped them. I’ve heard from Grammy winners, I’ve heard from other people who are navigating [the industry] as middle-class musicians.
Is the notion of a do-it-yourself musician kind of outdated in a complex music business or has the term DIY always undersold the amount of teamwork involved in an artist’s success?
There is no artist that is truly DIY. I think that the DIY term now refers to artists that aren’t working with a traditional team. But there are non-traditional teams, and I outline what the “new team” looks like in the new music business. It can be everyone from a graphic designer that you’re working with, or someone to help you run your social media ads, to a videographer, to someone that can help guide you with royalty collection. Everybody needs team members. It’s impossible to do all of this on your own. And so, it’s just about finding those people who believe in what you’re doing, want to be part of the journey with you in any capacity, and then use their strengths to fill in the blank where your weaknesses may lie, or maybe where you just don’t have the time, or knowhow or desire to do those things yourself.
It’s far too much to manage and handle for one person. I encourage artists to learn everything that they need to get done and then delegate. Some people will delegate with a traditional role like a manager. Other people will delegate to their friends who just want to come help out. They might not have the traditional title of manager, but they might be partners in various capacities.
At my book signings last night, I interviewed Theo Katman from the band Vulfpeck. I think he is a great example of a DIY icon. This is a band that has no manager, no record label, and they sold out Madison Square Garden, the Greek Theatre and Red Rock [Amphitheatre]. That’s something that was previously unheard of. Theo, as a solo artist, also does not have a manager. He told me he likes to maintain control. He doesn’t want to give up percentage of his career – 15-20% of gross – to anyone, and he’s playing to 3,000 capacity rooms all over the country right now and selling out these rooms.
About three years passed between editions of your book. What changed in the music business during that time that demanded inclusion in the new edition?
For one, the pandemic. You know, the industry looks quite different post-pandemic. There were over 100,000 livestream concerts that happened just in 2020 and 2021. TikTok came into prominence over the last three years. In the previous edition, I have one mention of TikTok. And now, I have an entire rewritten chapter on social media telling a lot of the stories of how TikTok has really enabled musicians to find an audience – some in a massive way and others in just a sustainable way. I talked about what’s happening with NFTs in the metaverse. And with the MLC [Music Licensing Collective] now in place I updated how royalty collection works, and how artists can structure their royalty collection and the parties that they need to work with if they’re remaining independent and aren’t working with a traditional publisher to collect their royalties or publishing royalties like mechanicals and performance.
And I talked about how record label record deals are structured. I interviewed a lot of artists that were offered 50-50 licensing deals from major record labels. This is something that was completely unheard of. I’ve never really seen a 50-50 licensing deal with a big advance –usually a six- or seven-figure advance – to completely independent artists with very little track record other than a TikTok song going viral.
I think the major labels are looking at these bands and they need to be far more competitive with the label services companies out there. Independent artists are realizing they don’t really need the record labels like they once did.
Independent artists tend to be quick to adopt new technologies. Let’s talk real quickly about a few of them. You mentioned TikTok. What’s the opportunity there for the independent artist?
I have never seen a social media platform be as effective as quickly. There’s never been on platforms to launch songs as quickly and as powerfully as Tiktok has been able to. I’m less interested in superstar stories – there’s always some people and money behind the scenes pulling the strings. But what is is more interesting to me are some of these artists that are completely independent where sure some of them go viral and then get offered major record deals, but more so it’s the ones that are using it on an ongoing basis to build a sustainable fan base and interact with their audience, tell stories about themselves.
And where TikTok is now moving in 2023, which I think is actually very exciting for the independent artists, is the “For You” page has become so niche and fragmented that artists can find their community and not have any songs go viral. The algorithm now has become so honed that it is now connecting artists with fans in a way that feels natural and is under the radar from most of the industry and the labels. It’s really helpful for these artists.
Web3: for the independent musician, is it a mirage, or a good place to put resources and time?
I think Web3 is going to continue to find its footing. And I don’t think it’s a fad. I know that it got a lot of hype a year or two ago when NFTs were all the rage. There’s a lot of utility that I’m seeing happen. There is the company Royal. There’s another company Labelcoin. [Herstand is on Labelcoin’s advisory board.] Fans are able to invest in artists’ songs that they might believe in participate in the share of royalties. Web3 technologies give a very streamlined ability to do this. It’s kind of like crowdfunding. I call it crowdfunding 3.0 Crowdfunding 1.0 was Kickstarter and Indiegogo. Crowdfunding 2.0 was Patreon, that ongoing support. Now crowdfunding 3.0 is a fan investing model. So that’s where some of the utility of Web3 is moving.
I see Web3 as something that is constantly evolving and starting to find its footing. I don’t see it going anywhere. It’s like, the internet wasn’t a fad. Social media wasn’t a fad, but it evolved and it isn’t what it was when it first came out. So that’s, that’s what we went through. It’s still very early stages. But it is a very exciting frontier.
There are a lot of platforms and services these days for funding, whether it’s crowd funding or advances or loans. What do you think of these opportunities for independent artists? Are they on artists’ radars?
Yeah, there are distributors out there that have built right into their platform. TuneCore does this. Because they have all of your streaming data, they can get through their own internal algorithms crunch the numbers offer their artists advances. There’s standalone companies out there as well that that artists can apply to to get royalties and get advances from. I don’t think enough artists know about these platforms, and they’re more popping up every day. But it is very exciting that they can say, “All right, well, let’s look at the previous three years of your streaming data. Okay, this song earned about $10,000 a year. So we anticipate this is probably going to earn $10,000 a year for the next five years. So, we can write you a $50,000 check today. And then we’re going to kind of take the first $60,000 that comes in from the song over the five-six years, and we’ll make a little profit, and you get $50,000 today.” That’s happening. That’s kind of what the TuneCore model is and what a lot of these other companies’ models are. That’s available for artists that have pretty good streaming numbers. It’s modest but that advance could help them with the marketing of their new music and help them go on tour or help them buy inventory.