2007, and there is a new music industry model morphing out of what's going on digitally. The most important elements are, in order:
1. Playing live. You can never replicate a live show so this is great for fans, artists and managers. At a certain point you can make a fortune. Major record companies are now trying to get a piece of bands' live incomes as they realise they are on the wrong hobby horse. 2. Merchandise. If it's good it will sell. 3. Synchs. You get paid loads for putting your music on adverts and films. 4. A record deal. You still need one but it's an engine room for the rest of the business.
For building your fanbase, and much more, I'm still a huge believer in MySpace. The beauty of MySpace is the way it cuts out the layers of people between you and the people interested in what you do. I book the bands for my London clubs Death Disco, The Queen is Dead and Now We're off to Rehab via MySpace, where over 19,000 people are in contact with me about music and what they're doing.
The music business built a world of rules and bullshit around itself. I never thought we needed the rules in the first place. MySpace gave every fan and artist a voice. All artists either tend their own MySpace or at the very least read it - it's a genius way for them to connect directly with their fans.
It's also a brilliant way to get your music heard for no money. These days, if you want me to listen to your music, don't give me a CDR, give me your MySpace address. Artists have broken through MySpace: Lily Allen, Arctic Monkeys (albeit thanks to the efforts of fans, rather than the band themselves) and Enter Shikari, all with zero marketing spend. These days, if you are smart, you are your own marketing team.
Once you get noticed, what next? If you're shopping for a record deal, consider what a major label can get you over an indie. The answer is simply money - nothing else. Besides, majors may be great at selling records in mass quantities but they're shit at starting an act from zero. The record companies have to pay you if you sell so don't worry about how big an advance you get - in 2007 it's almost immaterial what you get in the game. It's building your fanbase that is important. They will sustain you, not the majors.
As I write, the band Koopa is set to become the first unsigned band to get a top 40 chart placing on downloads alone Why? They're massive on MySpace and have a large live following. They've done it without a huge major label budget behind them - in fact, they've done it with no label at all.
New bands like Koopa embrace the technology that has transformed the music business. The people who buy the music want ownership and have been shut out of the process for years by the corporations. The major record companies have now been overtaken by the digital world. They should have paid attention to what was happening 10 years ago.
Against this backdrop, indie labels have never been more relevant. I still fund an independent record company, Poptones, though I don't choose the bands. It's very interesting being in band management and owning a record company in the current climate. Musicians will always fascinate me, which is why managing them is so exciting, but I also love putting out music. 2007 will be an interesting year.
