HistoryIt 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 the360 degree business model.Brett branched into management to make more moneybecause CD sales were declining and bands were coming tohim for advice.
360 Degree Business ModelRather than only relying on album sales for money theybranch out using tours, gigs, promo and merchandise.Many Independent labels have been doing this for a longtime due to the albums not making a lot of money. Theyalso 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 withMadonna.
SynergyIn It for The Money managed to get “You love her coz she’sdead” song “Superheroes” in the TV show “Skins”. This wasa big step for the Band and label because the producers ofskins had to chose between them and Franz Ferdinandtherefore showing that the Band had been developed into agood band otherwise wouldn’t have been chosen over£20,000.The song ‘Engine Wrecker” was featured in Saints Row.
Convergence 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.Blogging is the best way for Independent record labels todo every type of marketing for free. Due to the rise in theinternet it is a great way to reach people because themajority of people have access to it. They can also reachinternational audiences much easier.
Competition With ColumbiaThe 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 labelssuch as Columbia, as they can offer more money and canoffer things in return.