My Major company is the new kid on the block as the music industry struggles to wrestle the digital scene. It describes iself as ” a fan-funded record label that gives internet users and music fans the ability to invest in the career of the label’s artists, get involved at every stage of their development and retain a share of the profit generated by the release campaign following the band’s launch”.
How does it work?
- Investors and fans can get involved by purchasing between 1-100 shares in an act
- Shares start from £10.00 each
- All money raised for each particular band/singer is held in an individual/third party account
- You can move your money around and add support elsewhere
- You are kept up-to-date with your investment via the site’s team of community managers
Hot band of the moment?
Ivy Rise is the first UK band to raise £100,000 in just 4 days.
The man behind it?
Former Warner Music boss Paul Rene-Albertini
“This approach works,” he said. “It takes into account the viral aspect of music, the live aspect of music and it creates a sufficient level of revenue and risk sharing.
“You have the fans being involved in the creative and financial decisions.”
In France an act called Gregoire has sold more than a million records, with a number one single and album, netting just under £100,000, almost 20 times its original investment of £5000.00