In It For The MoneyJordan and Emma

History

It was formed into 2008 as a Independent record label.

They have 2 part time employees for the entire company.

In 2010 they branched into management and developed the 360 degree business model.

Brett branched into management to make more money because CD sales were declining and bands were coming to him for advice.

360 Degree Business Model

Rather than only relying on album sales for money they branch out using tours, gigs, promo and merchandise.

Many Independent labels have been doing this for a long time due to the albums not making a lot of money. They also had to build their fan base and this was a way to do it.

Large Media conglomerates are now starting to catch on. The first large company to do it was Live nation with Madonna.

Synergy

In It for The Money managed to get “You love her coz she’s dead” song “Superheroes” in the TV show “Skins”. This was a big step for the Band and label because the producers of skins had to chose between them and Franz Ferdinand therefore showing that the Band had been developed into a good band otherwise wouldn’t have been chosen over £20,000.

The song ‘Engine Wrecker” was featured in Saints Row.

Convergence

Blogging is the best way for Independent record labels to do every type of marketing for free. Due to the rise in the internet it is a great way to reach people because the majority of people have access to it. They can also reach international audiences much easier.

NYC Cops sent a track to a New York blog and it gained 4000 clicks on this blog and was picked up by many others.

Competition With Columbia

The minimum amount of money spent on PR for a single is £10,000. This only buys you a small mention in a magazine, such as NME or Kerrang!

These magazines are more likely to favour bigger labels such as Columbia, as they can offer more money and can offer things in return.