Sean Parker: “I’m Not Sure Why You Would Sign With A Record Label” [VIDEO]
At Web 2.0 Summit in San Francisco, Sean Parker, venture capitalist and co-founder of Facebook and Napster and Spotify investor, sat down to talk about his take on the future of the music industry. "I'm not actually sure why you would sign with a record label," quipped Parker. On Spotify, Parker says its "an attempt to finish what I started at Napster". WATCH THE VIDEO:
Most of the music discussion happens from 9-18 minutes, then the discussion turns to what's wrong with Facebook and the glut of information.
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“I’m Not Sure Mr Sean Parker knows much about marketing”….
He’s an idiot and knows nothing about music.
But, he’s a 1% dude who has big venture capital.
Yeah, except Spotify barely pays musicians!!!! Musicians only make a fraction of a penny per play, I believe it’s $0.0029 per play but I’m not entirely sure. Ridiculous! How are we supposed to make money on our work?
His Foster The People example is laughable. Yeah, they just magically reached critical mass through word of mouth.
Terrestrial radio and the hundreds of thousands of dollars that Columbia Records spent promoting it didn’t help at all.
What a douche.
It’s a funny statement from a guy who just took a bunch of VC money for a new startup. VCs and record labels are so similar it’s uncanny. To take money from one and then say nobody needs the other is retarded.
Record labels provided the procurement and perpetuation of the album cycle. Yes, some of those services can be replaced in the current music-industry climate.
However, If you want to be “mainstream” its virtually impossible at this stage of the game to be able to get the impressions needed to compete in Top 40 music without a major label.
Will this stay true in the next 20 years? Not sure.
if someone buys your single on itunes for .99 cents. should you be paid every time they play it thereafter? Spotify is tracking plays but some of these plays are by the same users. There should be a transparent formula by Spotify that illustrates exactly how they calculate the amount paid to you as an artist based on the average listeners spin metrics. If that makes sense?