SXSW catches up with Justin Blau, better known by his DJ name 3LAU, to discuss reclaiming ownership of your art in the music industry.
“In the past, renting a studio and equipment, costume costs…all the costs a third-party financier [was needed] to build a career. With internet, that barrier became lower and lower,” said Blau.
“As musicians and creators at large, we’ve never controlled our audience today. We still don’t. Primarily because we build our audience on these third parties,” said Blau. “Control of the data [of who consumes their music] that creators create is a fundamental issue for all creators. The people who make an artist or song popular have no economic upside in making a song successful. They never get to participate in the success. The principle behind Royal is: how do you align incentives behind creators and people who consume their creations?” said Blau
Fan investors in Royal are community members who are economically aligned in spreading the brand they are members of. They too can take some ownership in the music that they love. In cases where monetary reward may be lower for the fans, Blau says the emotional value that comes with owning parts of a song or album is something that private equities and labels aren’t thinking about.
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