So, let’s say the goal is $600. You can build a fanbase this way, and perhaps also shift a few records through a distributor. Users need to apply for an Issuer Code from the GRid Registration Agency: www.ifpi.org/grid. The service allows mobile phone users access to all four major record label catalogues on demand, for just £1.99 a week, using a player that runs on mid-range phones, GPRS, as well as high-end 3G phones. The music industry is a wildly varied beast with many arms and genres. ‘S’ Corporations can avoid this double-taxation dilemma, but only where the IRS first authorises ‘S Chapter’ status — in which case, shareholders are entitled to receive income direct. This is where an artist or producer retains copyright ownership of their recording, but allows a record company or distributor to sell the record on their behalf. This can be done by sending a live music stream from your computer to a Shoutcast (www.shoutcast.com) or Icecast (www.icecast.org) server, and mapping the server’s stream URL to a parcel of land in Second Life. You need to make this as sustainable as possible, especially early on. There’s little point signing, recording and digitally releasing music if fans can’t locate your tracks in their searches. A Limited Liability Company (LLC) in the US is similar to its UK counterpart, combining the limited personal liability of a company with the tax advantages of a partnership. Either way, you should start thinking about style and colour schemes to help your designer. I get it. You can have a look for record label name generators online, see which ones fit your music and your brand, then check if they’re available. Do you have an eye for what can sell? As a record label, you will need to get ahead of trends and keep up with the latest changes and policies that affect the industry. Startups.co.uk are trading styles of Marketing VF Ltd, an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 574048). Typically labels will take around 30-40% of an artist’s gross income, and you will be able to recoup any monies you have paid out for recording, producers, touring, promotion etc, right down to the packaging of CDs and paying for their burgers on tour. It takes capital (i.e. Creating a web site is another way of building profile and generating revenue for your label. A comprehensive guide to the GRid system is available from http://18.104.22.168/grid/index.html. It can be done almost instantly! You can go to your bank for a loan or overdraft facility. Meanwhile, Omnifone have recently launched their MusicStation service, which is likely to become the main competitor not only to iTunes, but probably to MySpace as well. They may want to see how many artists you have signed, if they’re actually gigging and if they have any favourable press reviews. So now you’ve dealt with your label infrastructure, it’s time to consider the digital distribution options available. detailing how the record label is to be run day-to-day, the duties of each partner, and what should be done in the case of a dispute, or if a partner leaves. ), the extent of your personal liability, the size of your setup, tax issues, and the profitability of your acts. The labels tend to look for artists who are generating 500k streams and upwards, per song, in the first couple of weeks of release. If your goal is to be the go-to label for 21st century post avant jazzcore, your focus and approach will be much different. Incredible value. Targeted outreach to digital and physical press outlets. The podcasts will be offered DRM-free, with all PPL revenue to be shared amongst the labels. If you invest £100,000 in a band they could still sell no records and leave you with a very expensive shattered dream.” He adds, “ If you’re very money driven, record labels are probably NOT the way to go.”. This will give you the ability to assign International Standard Recording Codes (ISRCs) to your music, music videos and so on. Having the backing of indies in more than 20 territories, Merlin is able to offer a huge amount of the world’s independent repertoire for global digital licensing. They are the faces of your label. The first thing you need to do is decide what kind of label you want to be. One Synth Challenge V - The Filter Strikes Back! So try to be imaginative and focussed, rather than simply saying you are a ‘pop label’. If a distributor takes you on, they’ll want to sign up your label for a number of years. Costs again are dependent on what you are seeking to achieve with your label. You should contact the helpdesk at PPL to obtain your First Registrant Code. ASCAP, BMI and SESAC pay their members in a variety of ways, and lay down separate eligibility criteria and contractual terms. There are numerous options for selling downloads on-line.If you don’t fancy chasing after digital retailers on a daily basis, why not consider using a digital distributor such as Vital:PIAS? Everyone (who wasn’t born into money) in the music industry has a story about the times they were starving and struggling before their dedication and hard work paid off. Clearance is needed from the owner of the musical composition (usually the publisher), as well as a separate permission from the owner of the sound recording, (the record label). TuneTribe can take delivery of your catalogue and current releases through established distributors/aggregators, or through FTP sites; alternatively, you can use TuneTribe’s upload centre. Tunde Balogun, LVRN co-founder, manager of the day-to-day goals, and self-described man who “puts out fires”, gave genius (albeit expletive) advice on this point: “We really don’t f**k with excuses. Labels pay a mechanical royalty rate of 9.1 cents per song, per unit — this is known as the ‘statutory rate’. Perhaps spending time honing your craft, building a fan base and increasing your visibility online and off would be a better use of your time and resources. Artists appearing on the platform include Bjork, Aphex Twin and Danger Mouse, and customers can listen to full-length tracks prior to purchasing DRM-free MP3s, encoded at 320kbps. The main advantage of using a company like Pinnacle for your digital business is that they also supply digital content to some of the world’s biggest retail sites, including iTunes, Napster, HMV, Virgin, Woolworths, Tesco and Yahoo. LLC owners can elect either to pay their tax at the corporate level, or instead receive profits, and pay tax individually. Rough Trade, the consummate bricks-and-mortar indie retailer and label, have expanded into the digital content business, offering music in MP3 format, free of DRM. I’ve tried to mention some of the main ones below, but for specific advice on your affairs you should always consult an experienced music industry lawyer. On TuneTribe, labels and artists are given their own area to manage and update as they choose, and have access to real-time on-line accounting, a label management service, and editorial support to maximise media exposure. But even at the Basic level, you get a high-end certificate for your label, 12 months of unlimited music distribution, personalized ISRC codes and Sole Proprietorship set up. Make sure you supply the aggregator or distributor with accurate metadata. Some labels may opt for a purely digital setup — which can mean no manufacturing costs and no premises to rent — but they will still need to take care of the business and legal formalities mentioned above.