FAQ

I am not in the United States, can I still join?
Yes you can. Music knows no bounds and everybody is welcome to participate.

So is it free or is it $25?
It is free to join until we have 50,000 members. From there each member will receive an official invitation and will be asked to donate $25 for an equal voting share in the record label. Those who do not donate $25 will still have a forum to participate in, but they will not have access to the nomination/voting area.

How long will I have access to the voting area for my $25?
You will have 1 year of access from the day the first band signs to the label.

Can I purchase more than 1 voting share?
No, each member can only have 1 voting share.

Karol, do you get to vote too?
No. I have absolutely no say into which bands are signed. I can't nominate bands for voting and I can't vote for bands.

$25?! Are you kidding me?! That's way too much.
I respect that. $25 is a lot of money. But ask yourself how much you spent just last month on eating out, concert tickets, video games, or any of the other expensive things most people don't even think about?

Additionally, you'll be getting all 5 full length releases from the bands you sign to the label.  If you take the price of an album on iTunes that's a $49.95 value right there.

If you can't see the value in contributing $25 to a history making music venture then unfortunately it's probably just not for you. (Alternately, you could always get together with 4 other friends, each contribute $5, and get 1 voting share for the 5 of you. Of course, only one of you will be considered an official member of the label.)

Why will we only be receiving MP3 versions of the label's first 5 releases? I want CDs.
I would love to put this to a vote but since replicating/mailing 50,000 CDs will cost almost $200,000 per release it's just not economically feasible to make this happen. (~$2 each CD for shipping/packaging + ~$1 for each CD + labor.)

Also, CDs are becoming obsolete. For the music industry to survive and thrive we've got to embrace, not fight, the future.

Why has the decision to sign 5 bands to deals worth $200,000 each already been made?
Based on my research into the costs of properly recording/touring/marketing a band $200,000 is the sweet spot to give each band a good push. Sure, we could sign 20 bands at $50,000 each, but then each band would not get the attention (or the advance/touring/recording/marketing budget) they deserve.

We could also sign just 1 band for $1 million dollars, but the first rule of business is do not put all your eggs in one basket.

By signing 5 bands the label and the bands have a greater chance of success.

What is the timeline for signing bands?
Hopefully we will sign the first band within 3 months of the official launch. You will immediately be nominating/voting on a label name so the legal/accounting process can get underway. We can't officially sign the first band until the business aspects of the label are taken care of.

The remaining 4 bands will be signed on a schedule you think is best for the label.

Will I be able to nominate as many bands as I want for the record deal?
Yes, during each "sign a band" nomination period you will be able to nominate any band you feel deserves a record deal. Once actual voting begins you will be allowed 1 vote per round. Make your nominations and your votes count.

Can I join and then nominate/vote for my own band?
I thought long and hard on this because it's such a tricky situation. The answer is yes. You will be able to nominate and vote for your own band. I don't want to exclude any music fans from this project and just because you're in a band yourself shouldn't make you an outcast. :)

My band is already signed to a record deal, are we eligible?
Bands on major labels or major indie labels (like Epitaph, for example) are not eligible. If your band is on a small indie label with poor distribution, subpar promotion, etc, then yes you are eligible.

Does a voting share mean I own a share of the company?
The voting shares do not have any monetary value. If they did this would turn into an investment opportunity (which it is not) and have to follow SEC regulations and other bureaucratic BS. The legal fees to go along with that would kill the project before it began.

Additionally, the label is not being created to be sold. It's being created to see if music fans can launch/run a record label that thrives in the face of the declining corporate controlled music industry.

Any money the label makes will be going back into signing more bands and growing the label.

Where will the label be located?
Offices will be in downtown Orlando or thereabouts. It's much cheaper than NY or LA, and there's a fairly large entertainment industry here. Additionally, I'm already in the area and I don't want to move. :)

I'm still confused or my question wasn't answered.
If your question still hasn't been answered please go ahead and join (remember, it's free right now) and ask your question in our member's forum. You can also ask your question via our contact form.