This content is not available in your region

When music is your business

When music is your business
Text size Aa Aa

Many bands are grateful for the support of their fans but when they say thank you do they really mean it?

The groups working with label ‘My Major Company’ are quite literally supported by their followers.

Britain’s ‘Some Velvet Morning’ is one group who understand that they would not be able to record their album without the encouragement – and cash – of the people who enjoy their music.

A total of £100,000 was invested in the group via their record label.

Lead singer of ‘Some Velvet Morning’, Desmond Lambert, said: “We’ve posted a lot of songs in demo form or close to completion form and so we get their feedback on the songs that are going to be included on the album. So a song that we might think is great we post and I’ve actually asked people to rate the songs, believe it or not, and we’ve got this little chart of people’s votes like a Eurovision song contest or Formula 1 voting system and so we can see clearly favourite songs standing out.”

‘My Major Company’ (MMC) is a record label unlike any other. It features unsigned bands on its website – and allows fans to buy between £10 (11 euros) and £1,000 (1,134 euros) worth of shares in their favourite artists.

When the target £100,000 (113,000 euros) is reached, MMC funds the artist’s album campaign and promotion.

The revenues generated by the band are split with 20 percent going to the artist, 40 percent to MMC and 40 percent to the investors.

MCC began in France, where it became hugely successful. It was introduced to the UK in October last year.

The boss of MCC believes the site brings artists and fans closer.

Paul-René Albertini said:“Through the web you have that daily relationship between the artist and the fans. They can interact, it has no cost, they go through all social networks, I mean social networking sites, they become like places where there is constant communication and I don’t think this is going to go away, I don’t think, so the music industry is adapting.”

Record labels around the world have been looking for ways to beat slipping sales as music lovers swap CDs for downloads.

Fan-investors do not just support groups by buying their records and attending their gigs -MMC gives them a platform to interact with the artists as well.

Desmond Lambert added: “MMC is actually a label, it’s not just about the money funding. We could have made a record ourselves, but the point is if no one hears that record, what’s the point, in a commercial sense, so this gives the record a sort of a life after its completion.”

‘Some Velvet Morning’ are hoping to release their forthcoming album ‘How to Start a Revolution’ in June.