We were assigned with the task of watching this video and answering some relevant questions all about the music industry model and music labels.
- Who owns the music in a traditional record deal? – The record company own most of the music
- How many major labels are there and what percentage of western music do they own? – There are three major labels that own over half of the western music
- Which is the biggest label? – Universal studios is the biggest label worldwide
- According to Nick Raphael (Capitol Records) is the most important job of a record label? – The most Important thing for them in to be able to find talent in order for the label to make money and make an artist.
- Why do artists feel that traditional music contracts are unfair? – Because it’s so heavily weighted towards the label that they get all the profit from the albums to the point where the artists themselves aren’t making much from it
- What did Radiohead do that disrupted the music industry once they were released from their contract with EMI? – They put their new album ‘rainbows’ on the internet for people to buy but people could pay whatever price they felt was right for the album, this caused a highest success as it was there highest selling album.
- What does Kobalt do for well know artists such as Snow Patrol? – It gives already successful bands a boost and keeps there name well known, they don’t need anymore development so this lets them create. music and keep it for themselves
- What services is it now offering new and upcoming artists? – It is offering them a service that they can use which lets them create. music and they can keep all the rights to the music they just have to pay fees for the services Kobalt provide.
- What is the major label’s best defense against Kobalt? – Major labels are able to create a star much easier as they have the platform and the team to develop and create a star but Kobalt don’t have that popularity as a label to be able to release music for new artists that will get heard.
- Why is the major labels’ back catalogue so important? – . It gives Sony a flow of income, of around a billion a year which they use to invest in new and already famous artists.
- How are new artists now emerging without the help of a record label? – Some artists are using social media platforms such as youtube to release music, this gives them an audience/fanbase that are already listening to there music and enable the artist to grow much quicker and do things at there own pace.
- In what way are fans powerful in promoting artists? – They are sending/sharing clips and music around social media spreading awareness of that artist around gaining them some popularity.
- How is the record contract signed by Jacob Whiteside & BMG different from traditional deals? – His deal was specifically different because he was able to negotiate with the label that he owns the music and his relationship with the label is more of a partnership than an normal label as he didn’t really need the label to boost his name as he had already done this himself through social media platforms and through his fans.