4. Labels to VC
Because social media has empowered artists to create a personal brand and connect with fans directly, labels have had to reimagine their role. One way they’ve done it is by taking a venture capital-like approach — handling the financials so artists can focus more on their craft and what they do best. Take The Rattle, for example. It finances the development of an artist’s business, rather than simply buying their music and exploiting music rights.