{"id":14330,"date":"2018-04-25T00:00:00","date_gmt":"2018-04-24T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2018\/04\/25\/meet-the-company-thats-paying-artists-9-99-out-of-every-10-with-dash\/"},"modified":"2021-09-18T11:37:28","modified_gmt":"2021-09-18T11:37:28","slug":"company","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/company\/","title":{"rendered":"Meet the Company That\u2019s Paying Artists $9.99 Out of Every $10 with Dash"},"content":{"rendered":"

Feedbands has a hair-brained plan that mixes cryptocurrency, crowdsourcing, and a vinyl subscription service.\u00a0 Amazingly, it\u2019s actually working for artists.<\/h2>\n

DMN is proud to be partnering with Feedbands as they grow their artist-focused concept.\u00a0 And if you\u2019ve ever wanted to sell your music using crypto, Feedbands is a\u00a0great place to start<\/a>.\u00a0 Here\u2019s what this company is building.<\/p>\n

The music industry is booming back to life.\u00a0 But the recovery for artists has been a little disappointing\u00a0\u2014 if it can even be called a \u2018recovery\u2019.\u00a0 Earlier this month, Spotify\u2019s founders and investors become overnight billionaires.\u00a0 But artists with millions of followers on the platform are still\u00a0struggling to make ends meet<\/a>.<\/p>\n

The good news is that there are still people trying to solve this giant problem.\u00a0 And some promising new models that are just getting started.<\/p>\n

If you haven\u2019t heard of Feedbands yet, you might want a take a look at what they\u2019re doing.\u00a0 Headed by Graham Langdon, the Asheville, NC-based company is combining vinyl subscription, crowdsourcing, cryptocurrency, streaming, and downloads into a potentially lucrative platform.<\/p>\n

The best part is that the payouts to artists are extremely favorable.\u00a0 According to the company, 99.99% of the earnings on a release go back to the artist\u00a0\u2014 so effectively, $9.99 on a $10 album.<\/h3>\n

It\u2019s a bit of a crazy, mad genius-y model that might actually make sense in the end.\u00a0 \u201cWe love Spotify, but we really want to figure out how to get artists paid,\u201d Langdon told Digital Music News.\u00a0 \u201cNobody has figured out how to get artists paid\u00a0\u2014 the artists are still getting nothing.\u201d<\/p>\n

Even worse, the fastest-growing platforms, like Spotify, Apple Music, and Amazon Music, aren\u2019t solving the problem.\u00a0 So Langdon decided to focus on two areas that could benefit artists the most: vinyl and cryptocurrency.<\/p>\n

\"\"<\/p>\n

The vinyl subscription part is actually pretty simple.<\/h3>\n

Basically, Feedbands has created a subscription vinyl platform with a twist.\u00a0 Members vote on their favorite music online (via streaming), and the top-ranked artists get a first-run vinyl pressing from Feedbands.<\/p>\n

Those members, in turn, get treated to a crowd-selected vinyl release every month.\u00a0 Power users know what\u2019s coming, others get surprised.\u00a0 It\u2019s basically a crowdsourced record label that revolves around vinyl.<\/p>\n

The result is a nice, growing community, and a nice bump for artists that feel drowned on other platforms.\u00a0 \u201cThere\u2019s a lot of noise on the internet, so it\u2019s hard for artists to rise above that and get noticed,\u201d Langdon told us.\u00a0 \u201cLabels are pushing a lot.\u201d<\/p>\n

Actually, members can choose from several different plans.\u00a0 You can even opt to receive a vinyl record and t-shirt every month as part of your plan.\u00a0 It\u2019s all automatically mailed to you (though you can also swap stuff if you don\u2019t like the selections).<\/p>\n

On the artist side, the deal is pretty solid.\u00a0 Once selected for vinyl release, artists are paid in cash and their own pressings.\u00a0 Two valuable things to an artist, especially since vinyl can be turned into cash on the road (or, online or via a local store).<\/p>\n

Importantly, the vinyl is a first run, so Feedbands gets to debut the release.\u00a0 But the artist doesn\u2019t relinquish any copyright control.\u00a0 There\u2019s nothing binding beyond the initial pressing itself, and artists can leave whenever they want.<\/p>\n

But in order to maximize artist payments, Langdon\u2019s model is heavily predicated on cryptocurrency.\u00a0 That is, one specific cryptocurrency called Dash.<\/h3>\n

Langdon told Digital Music News that he decided upon Dash while heavily researching cryptocurrencies.\u00a0 The crypto is governed by a decentralized org structure, which helps to manage decisions about the underlying blockchain and coin distributions.<\/p>\n

Langdon liked Dash because it transacts quickly and has razor-thin processing costs\u00a0\u2014 unlike the extreme mining fees that have bogged down mainline Bitcoin.\u00a0 The result is the 99.99% payout to artists.<\/p>\n

Even better, the Dash governing body also funds innovative ideas likely to broaden adoption and use of the altcoin.\u00a0 Accordingly, Langdon proposed a Dash-powered, unofficial SXSW showcase, and it all went swimmingly well.\u00a0 \u00a0At the showcase, everything was powered by Dash, including vinyl, beer, and wine sales.\u00a0 Even tipping was conducted in the crypto.<\/p>\n

The result was that a large group of lesser-known bands could make it down to SXSW, and get in front of new audiences.\u00a0 \u201cWe flew out 25 bands, and paid for their airfare,\u201d Langdon explained.\u00a0 \u201cA lot were playing gigs and wouldn\u2019t be able to get out there \u2014 already this is proving its value in the musical community.\u201d<\/p>\n

Back on the site, the economy is also largely powered in Dash.<\/h3>\n

Fans can pay good ol\u2019 American dollars for a monthly subscription, but the rest of the Feedbands economy is powered in Dash.\u00a0 That includes single and album purchases, which require a Dash wallet.<\/p>\n

\"\"<\/p>\n

So now, it\u2019s time to grow this wild experiment and see where it goes.<\/h3>\n

Of course, crypto has its critics.\u00a0 And, a bubble in Bitcoin\u2019s valuation has tempered enthusiasm for the entire space, including altcoins.\u00a0 But Langdon sees a really big win for artists.\u00a0 \u201cThere\u2019s a pretty big piece to getting the artists paid that cryptocurrency can play,\u201d he said.<\/p>\n

\u201cI want artists to wake up a few years from now and realize that they can buy a house.\u00a0 We want to be the underdog hero that comes from behind.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Feedbands has a hair-brained plan that mixes cryptocurrency, crowdsourcing, and a vinyl subscription service.\u00a0 Amazingly, it\u2019s actually working for artists.<\/h2>\r\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[216],"tags":[],"acf":[],"yoast_head":"\nMeet the Company That\u2019s Paying Artists $9.99 Out of Every $10 with Dash - Dash<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dash.org\/news\/company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meet the Company That\u2019s Paying Artists $9.99 Out of Every $10 with Dash - 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