How it Works: 6. How we make money
We are doing this because we love it. Money isn’t the prime objective. However, money will be required to fuel the business – to cover our basic costs of hosting, increase subscribers, invest in providing new services etc. Also, finding great music is a time consuming business. We want to reward our A&R team who are, right now, giving their time for free. So, how will we do it?
First of all, take a look at what we will and won’t do, if you haven’t already.
Here are a few ideas of what we might do:
- Create premium paid-for services to our subscribers. We don’t know what this looks like yet, we’ll need to figure this out with your help – let us know if you have any ideas
- Create sponsored playlists. But we will not promote music, an artist or a label we don’t like, and we will always let you know the difference between music our A&R team pick because we love it, vs those that are sponsored.
- Publish music we think our subscribers will love – help with its creation, and in return, take a share of the royalties.