Facebook Music Application
by: Guest
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Word Count: 433
Myrecordslabel is a revolutionary new facebook application which aims to take the power of collaborative social membership to the world of music by forming a professional record label using user contributions. Music fans can currently register for free, but commit to paying $50 as soon as 50,000 people have registered. This will create a purchase fund of $1,750,000, plus $750,000 for staffing and running the label. When registering, members vote for the acts they'd like to sign. As soon as they've paid their membership fee, they can confirm their prior choice or pick another act. After the acts have been signed, a Board will be formed to help run the label, containing existing professionals from the music industry, existing fans, new executives and a member of the Myrecordslabel web team. The Board will consult Myrecordslabel members on all major decisions. All members will be able to vote, and decisions will be made based on those votes. Which, theoretically, should create steadier management than most labels have, where personal politics and clashing interests can get in the way of sound decision making? And, as Myrecordslabel states: "Without having to rely on the wealth and goodwill of an individual record executive, the label will benefit from the pooled resources, knowledge and enthusiasm of thousands of music fans worldwide." Members will vote on crucial matters such as song selection, marketing and image. To keep members fully in the loop, the board and artists will give regular video briefings, which will be available through the application, as well as reports from the production. Wisdom of the crowds will also be used to decide which other artists to collaborate with, and on which songs. To ensure all members have equal rights, Myrecordslabel limits ownership to one share per member. The legal side is fairly simple. Contributors become members of the Myrecordslabel application Trust for $50. $35 will go towards signing acts, marketing, promoting and distributing their music. $15 will go towards the administration of the Myrecordslabel Trust and the building and management of the Myrecordslabel application and website. The Trust will sign acts only on the basis that the acts meet specific criteria spelled out by the Trust. Members will have "an equal say in every aspect of running of the label." Members also partake in a benefits package which includes free concerts, VIP parties, gift/goody bags, all music and merchandise from Myrecordslabel artists and special events. Myrecordslabel aims to sign 5 acts from any genre as voted on by its members to start with. More acts will be signed in the future. Visit now = http://apps.facebook.com/myrecordlabel/
About the Author
Hello all, this group is for letting everyone know about any Rock / Pop / Battle of the Bands type of concerts/albums/songs/video shooting/charity concerts that take place anywhere in the world and information about new upcoming bands are always welcome.
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