Aula and Creative Commons Finland invite you to the next Aula Talk:
IS THERE A RECORD COMPANY THAT IS NOT EVIL?
By: John Buckman, CEO and Founder, Magnatune (www.magnatune.com)
Monday October 23rd at 19:00 – 20:30
Kulttuuritehdas Korjaamo
Töölönkatu 51B, Helsinki (www.korjaamo.fi)
John Buckman isn’t afraid to point out what’s wrong with the music industry. Hit-driven radio is boring.CDs cost too much, and artists only get 20 cents to a dollar for each CD sold.Online sales (such as on Amazon.com) often cost the artist 50% of their already-pathetic royalty. Record labels lock their artists into legal agreements that hold them for a decade or more.Napster, Gnutella and Kazaa proved that people love music, and they want to share it – butthe entrenched record industry wants to kill P2P and internet radio.
“Magnatune is my project. The goal is to find a way to run a record label in the Internet Reality: file trading, Internet Radio, musicians’ rights, the whole nine-yards“, Buckman explains. Unlike regular record companies thatshare a percentage of their profit with artists, Magnatune shares a full 50% of the licensing, cdsales, and merchandise revenue (not profit) with the artists.
“I thought: why not make a record label that has a clue? That helps artists get exposure, make at least as much money they would make with traditional labels, and help them get fans and concerts.” Come and hear Buckman describe his vision of a record company that is not evil and discuss the earning model for Magnatune’s opencontent distribution.