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| Magnatune Sticks IT To The Record Industry Meet John Buckman, founder of the revolutionary e-label Magnatune. Haven't heard of Magnatune yet? You will. Buckman has become a guru in the cult music scene by teaching musicians How to Overthrow the Music Industry. Magnatune’s tagline, “We Are Not Evil, ” pretty much sums up their philosophy and their business strategy, though record company executives will not see it that way. Buckman’s philosophy is simple: 1) Fully utilize digital and Internet technology in artist development 2) Conduct honest business that supports (rather than castrates) the artist 3) Trust the music fan and give them some control over the music. Magnatune has over 400 submissions each month and has signed on about 200 artists since 2003. But, he is always looking for more. “The CD is already obsolete” Says Buckman “CDs cost too much, and artists only get 20 cents to a dollar for each CD sold. If they're lucky.” Add to this the fact that online sales often cost the artist more than 50% royalty and you’ve got a system that makes it next to impossible for the average artist to make any money, even if people love their music. “Record labels lock their artists into legal agreements that hold them for up to seven years.” Says Buckman “If it's not working out, labels don't print the band's recordings but nonetheless keep them locked into the contract, forcing them to produce new albums each year.” Clearly the record industry doesn’t often have the artist’s interest at heart, but add to this the fact that it is difficult for the music fan to even find good music, and you begin to see the turbid waters that Buckman is diving into. “Radio is boring: everyone I know is into interesting music, yet good music is rarely played on the air.” Buckman says. “Using the Internet to listen to music is tedious: too many ads, too many clicks, and the sound quality is usually bad. It's too much work, not enough reward.” Though some well run Internet radio stations are trying to change things, the record industry creates prohibitive licensing laws at every turn. With Magnatune, Buckman has created an e-label that “has a clue, ” using the Internet to promote artists by empowering fans to spread the word, utilizing Internet radio, and supporting musicians rights. Magnatune, gives their artists a 50-50 split of profits. That’s it. No strings attached. Artists don’t have to sign extensive contracts, they are free to promote their music through other venues, and Magnatune’s website (www.magnatune.com) makes distribution easy, providing their artists with maximum exposure. For the consumer, Magnatune gives you free listening rights, either by album, song, or through their own Internet radio which plays selections from their elite artist list. Buckman knows that music travels best between friends and so, for every album purchased, Magnatune allows you to make three free copies and encourages you to spread the love, passing your music around. In addition, Magnatune is the first label to include “limited rights” with the music they sell, actually allowing people to work with raw tracks, samples, and to change the recordings for personal use. This is the kind of thinking that could revolutionize the way that DJs and sound engineers do business. Currently, the word on Magnatune is spreading fast and they have a solid reputation in the underground music industry. Though they receive a plethora of submissions each month from artists around the globe, Magnatune’s highly selective process means that they typically add only 10 artists for every 400+ submissions. Buckman is only interested in dealing with artists whose music is handled with integrity. His criteria are simple “If it sticks in my head. If I hum it all day” He says. Magnatune has had great success in promoting their ambient and new age artists, but they have a growing list of titles ranging from acoustic blues to classical and with more and more submissions coming in every month, Buckman hopes that they will soon be able to represent the best from every genre. Buckman will continue to pay special attention to artist’s who represent genres that receive little exposure. His e-label is currently producing several world music artists who would be lost on itunes, but who receive a personal touch from Magnatune. Though Magnatune has received nothing to praise from customers and press alike, the key to their success is participation, and Buckman hopes that musicians everywhere will consider submitting their music to Magnatune. Buckman wants to work with top notch artists from every genre, from Goth Rock to Soul, Hip Hop, and Bluegrass. “If you think Magnatune is a worthy goal, please support it” Says Buckman “There are powerful forces who want us to fail, so I need your help if this is going to work.” write your comments about the article :: © 2005 Jazz News :: home page |