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Leads you all right we'll fights between artists and record labels go as far back as -- inception.
At a music industry but what a label we're actually just heat get out of the equation.
-- -- offers struggling artist and an established stars out there a way to get on iTunes Amazon and other music site's all about taking a -- From music sales joining me now is Geoff price is CEO and founder of teen court -- -- being here Jack's right after that explain the last what -- -- When he got stuck to a court lets any artists have access to distribution C -- -- website you upload your songs you click a button it goes and I iTunes or Amazon or Napster rhapsody eerie music.
Turning the music stores a reservist and when the music sells here is get to 100% of the revenue that's not exclusive they cancel whenever they want -- And the really click a button worldwide distribution.
It is the reason that you came into being because is there actually isn't middlemen swore and music artists and I tell I wasn't aware of that's -- I thought that if I wanna put music that I'm on iTunes I just caught.
That's not that -- No I mean so traditionally look if you were an artist you -- to get signed her record label in the record -- would provide distribution of your music out into the world and used to be physical CD you walking for retail store and buy it.
And when it's sold he was the -- ended up with a small percentage of that sale.
Well technology sort of changed everything when you record music and lives -- a hard drive -- why not Apple's hard drive so if someone searches for it can be found and bought.
And I started this company five years ago out of -- reaction to what I thought was wrong.
Artists were giving up rights not to get access to put the music into iTunes and Amazon and they had to give up money every time and -- -- my question was why.
Unlike the old world where you -- all these -- mechanisms in place now just move the file from point a to point -- -- also able to people -- shared discovered and so on.
So let's change the model let everyone and there is no editorial filter saying -- good or bad.
Jeff how do you make money I get paid a flat upfront fee for service that's ten dollars for single and 4999 for an album and that's -- so when Jay-Z uses us.
Which he did for his first -- reasonable doubt.
When Nine Inch Nails -- used to in court 4999.
When he turned to an artist like -- a Christian hip hop artists who sold over million copies of the songs in the past year.
As a matter -- core artists have sold over 300 million units of music in the past two and a half years.
This is amazing because they're really flipping the whole music industry on its head no longer you have to go -- To the consumer and keep all the money which I think is a big deal -- artists.
Out there but why these bigger artists working with you.
And mining sales they have recording deals they have already distribution deals in place -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- On the album 4999 and get all the money from the sale of it that's why they use we've been here for a really long and about the demise of the record company.
It sounds like from what you're saying it's inevitable.
Well I mean here's the reality the reality is there's more music being bought sold -- today that in any point in history music sales are actually up they are not down and that's absolutely false anyone that says that they're up one point 6% this year.
Over last year one point seven billion units of music were -- -- -- paid download compared to let's say fifteen years ago when it was 600 million units.
Record labels are making less money.
Artists and songwriters are making more money now there's more artists more songwriters generating more revenue at this point in history and and any point in the history of this world.
Music moving and migrating online really changed the whole absolutely right what is the next and what's -- next game changing move that we're gonna see that you're trying to get involved then.
So the next game changer is going to be what's called on demand streams.
Connectivity the ability to listen to any song you want whenever you want through the cloud.
That is the future of this industry and that's what's coming next in the way I view myself as being important and that is making sure that the person that wrote the song and the record label that releases the song.
What you're now the same person are collecting all the money that exist for them around the world because these are separate income streams that exist right -- price -- -- and -- check fat and it always comes back to the commerce -- -- -- -- let me.
-- -- -- -- -- -- -- -- -- We're just -- yeah.
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