record labels

Success Spotlight: An Interview with Damien Ritter of Funk Volume 7

by Fredara Mareva • Interviews • Tags: , , , , ,

 

Damien Ritter of Funk Volume (pictured right) takes a photo with a FV fan.

 

Los Angeles-based label Funk Volume has been on a roll lately. FV founder/artist Hopsin is continuing to make his presence known among loyal hip hop fans and rappers while up and coming FV rappers SwizZz and Dizzy Wright are quickly on the rise. But what makes what’s going on at FV really click is the man in charge of FV’s business operations: Damien Ritter.  Damien is the numbers guy who makes sure that FV is growing and moving forward in a way that builds long-lasting careers for all involved. Recently I talked with Damien about his work at FV.

As a graduate of UC Berkeley and Stanford’s MBA program and a former employee at Goldman Sachs and Deloitte Consulting, Damien brings some serious educational and corporate experience to the FV. He’s the numbers guy. He professes “I bank everything we do on numbers.” To him, it is not just a quantitative analytical exercise, but it is the key to understanding the worth of what FV’s artists create. He explains, “If you have a good understanding of your value then you know what you’re worth on your level.”

As a relatively young indie label, it is Damien’s business to know who his fans are and where they are. This is critical information for booking well-attended shows and negotiating with potential brands. When it comes to booking shows he quickly asserts “You can’t get paid for a show until the demand is there.” Since 2007 FV has taken the business of building demand very serious. The main priority for Damien and the roster of FV artists is building their fan base from the ground up. For them, it is not just about broadcasting the new releases and show information, but it is about converting passive fans, Facebook likes, and Twitter follows into super fans who feel invested in the music FV is creating and love to share that music with others.  The result is now they have an active and supportive core group of fans and an active street team that gives them the support to go out and tour. But Damien, cautions that this is not a process that happens overnight. They spent years creating high quality music, packaging, and videos that delivered what their fans wanted.

But ask what does Damien spend his days doing? Any number of things from communicating with lawyers, publicists, booking agents, web designers to serving as FV’s de facto road manager, A&R head, and accountant. He quickly explains, “It’s a very small operation, so no job is too small for someone to do.”

As Damien continues to guide FV’s ascent, he shares the knowledge he learns. In January he hosted a virtual hip hop industry conference that brought together industry veterans and newbies in various panels. His vision is that FV is more than a label, but it’s an “educational hub.”

Check out FV: www.myfunkvolume.com    http://www.facebook.com/funkvolume  http://www.facebook.com/funkvolume

Hopsin’s video for “Sag my Pants”

Dizzy Wright’s video for “Fuck Your Opinion”

FV’s video for “FV 2012″

 

 

Why Spotify Will Never Be Profitable 0

by Fredara Mareva • Uncategorized • Tags: , , , , ,

Great read from the folx over at hypebot:

In the article MP3.com founder, Michael Robertson, gets into how the big four three remaining record labels use their weighty leverage to squeeze all potential profitability out of streaming services such as Pandora, Spotify, Rdio, and others. As expected label lawyers use all kinds of complicated pricing models to charge streamers for content, high upfront costs, and mandatory music play reporting procedures to ensure their own continued profitability.

The truth is, I don’t blame the labels. They know that without access to their catalog, you Spotify/Rdio/Mog have absolutely NO business model. As much as I would like to see these services do even more to promote independent artists, I know full well that whatever meager profitability they get is going to be from the ability to provide The Beatles, Beyonce, and Beiber to the casual music fan. This is why, even as a paying Spotify customer who uses the service daily across several devices, I’m pessimistic about the company’s long-term prospects. The business model for these services must evolve. Lots of them rely on advertising revenue to help keep them afloat, but it’s going to take even more than that to maintain over the long haul. This is still a really young business area, so we’ll see how it continues to grow.

Read the full article here.

P.S. Spotify actually have access to The Beatles catalog (not surprising), I just like to use “The Beatles, Beyonce, and Beiber” to connote all things pop music.