The Music Industry is in a State of Decay
Despite 'creativity' being at an all-time-high, with Artists releasing music in a variety of ways independent of the major players, the traditional infrastructure remains as an archaic monolith towering above an ocean of over-saturation. It seems the 'legacy model' that has now spanned centuries is grasping to what remaining power it has over an industry that has been shaken by numerous periods of disruption. With diversifying business strategies, 360 deals and other exploitative mechanisms the bloated companies dominating the sector are on life-support even though they give the illusion they are alive and well.
Introducing DAOrecords
Although the world isn’t quite ready for a fully 100% decentralized Record Label (not yet) we decided to start with a hybrid model that incorporates the traditional business approach but with the company acting as a ‘social enterprise’ that engages primarily in digital distribution. Attached to the company is a NGO, which acts as a ‘Trust’ and distributes funds to the DAO, where artists and their communities can receive funding.
This is totally a work in progress, a controlled experiment that we hope will lead to something beautiful and empower creative communities around the world to become more sustainable, inevitably leading to the creation of some amazing content.
More To Come
This is just the beginning. We believe in positive organic growth and are in no rush to 'on-board the masses', we want to deliver quality music and attract Artists who are looking to be a part of something bigger and join our community, one that we hope will cross the globe and make a positive impact on people's lives.
Check out DAOrecords.org
In The Meantime...
You can read our Article on Medium for the background story. Or contact us if you are an Artist and want to get involved, or simply just find out more!
