Second Episode Of U.K. Film Series 'The Disrupters,' Spotlights Music Industry Transformation
July 19, 2016 at 11:59 AM (PT)
"The Music Factory," the second episode of THE ECONOMIST FILMS & EY's series, "The Disrupters," is premiering today, and can be seen here.
The new installment investigates how major record labels are being disrupted by digital innovation and how this has revolutionized the way we not only consume music ... but how artists are compensated.
The film delves into what the music industry looks like today with the help of artists MOBY, RADIOHEAD, FAITHLESS, SNOW PATROL, JACOB WHITESIDES and UNTIL THE RIBBON BREAKS. On the other side representing the major record labels are CAPITOL U.K. President NICK RAPHAEL and SONY MUSIC U.K. VP Strategy FRED BOLZA.
The disrupter, the new kid on the block, is a tech start-up, KOBALT MUSIC, who are now taking on the "big boys," helping to take music into the digital age and shed some light on the notoriously complex industry. Unlike most record labels, KOBALT allows the artist to retain the rights to their music. They simply charge fees for the services the artist wants them to provide.
KOBALT SVP/Creative SAM WINWOOD says: “The whole idea of owning your own record and getting someone to market and distribute it for you is the biggest threat to traditional major record labels. We’ve said to people you can be the masters of your own destiny. You don’t need to give away your rights to earn your money.”
JACOB WHITESIDES, who began posting videos of himself singing on YOUTUBE when he was only 13 years old, offers the perfect example of today's indie artist empowerment. Now at 18, he has more TWITTER followers than MADONNA and BRUCE SPRINGSTEEN combined, owns all of his music and has 100% creative control.
Commented CAPITOL U.K.'s RAPHAEL: “We’re in an age where people who have nothing to do with music can build up a profile and a business based on their opinions and their looks on social media. I don’t see it as disruption. It’s an opportunity and I love that opportunity. I hope I get to share in that opportunity for the rest of my working days.”