A New Record Label Aims to Give Artists a Fair Shake

Radiohead's manager, Brian Message, is part of a group creating a new record label, Polyphonic, that'll let artists keep half of the profits they generate, emphasize digital distribution, and perhaps experiment in ways similar to Radiohead's "Name Your Own" price initiative. Polyphonic has $20 million of funding so far.

Here's coverage from New Music Express, The Telegraph, and today's New York Times.

The Times writes:

Under the Polyphonic model, bands that receive investments from the firm will operate like start-up companies, recording their own music and choosing outside contractors to handle their publicity, merchandise and touring.

Instead of receiving an advance and then possibly reaping royalties later if they have a hit, musicians will share in all the profits from their music and touring. In another departure from tradition in the music business, they will also maintain ownership of their own copyrights and master recordings — meaning they and their heirs can keep earning money from their music.

“We are all witnessing major labels starting to shed artists that are hitting only 80,000 or 100,000 unit sales,” said Adam Driscoll, another Polyphonic founder and chief executive of the British media company MAMA Group. “Do a quick calculation on those sales, with an artist who can tour in multiple cities, and that is a good business. You can take that as a foundation and build on it.”

Interesting approach.

Unfortunately, I couldn't find a Web site for Polyphonic. Could this digitally-savvy crew really have started to promote their company before launching a Web site? (This MySpace page for Polyphonic Records does not seem to be theirs.)

So let's play the game "Find the Web Site." Who'll be first?