Polyphonic will invest in bands, who in turn will operate like startups, dealing mostly with contractors to handle various aspects of a band’s work, such as merch, 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, such as Tori Amos, Trent Reznor or Radiohead, when they dealt with major labels.
Now, that sounds interesting… its about time entrepreneurial spirit met music in an artist-friendly way.
The New Breed of Record Labels: Helping Bands Help Themselves