Gamma plans to take on record labels and streaming services by joining forces with major artists and brands.
👉 Background: It's fair to say the internet age has had a pretty negative impact on music artists and their revenue. For example, an artist will earn ~$0.0033 cents per listen on Spotify. As a result, streaming has minimised the power of artists and also record labels.
👉 What happened: Now, a former creative director at Apple, has announced the launch of Gamma, which plans to join forces with major artists and brands. It will partner with artists on recorded music, visual content, media, creative agency, and direct-to-consumer products.
👉 What else: And so far, Gamma has signed up Usher, Rick Ross and Snoop Dogg. It's all part of the plan to stick it to the record labels and streaming services.
💡 Many companies have tried to redefine the relationship between artist, record label and streaming service, but have failed to unseat major record companies.
💡Gamma enters the game with a pretty good start.
That’d be wads of cash ($1.5 billion in fact), major artists already signed up, industry knowledge and connections.
💡Gamma is promising artists more control over their work, like longer-term licences instead of ownership. So, while the odds are stacked against Gamma, this appears to the the strongest attempt to change the industry in a little while.
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