WHO NEEDS A RECORD LABEL?

Eskimo Joe [Australia’s answer to Coldplay] has adopted a novel approach to the financing of their sixth studio album.


The Perth-based band has set a target of raising AUD$40,000.00 by early February 2013 via the crowd-funding website Pozible, with the view to recording their new album in their own studio, The Wastelan. All potential financial donors to the project have the opportunity to share in various “benefits”, ranging from the chance to hear the new album prior to its release date [$500.00 donation] to a BBQ and private performance by the band [$6,000.00 donation]. Eskimo Joe has already raised $28,000.00 in 5 days.

Granted that Eskimo Joe is an established and successful rock band with a loyal global audience, their Pozible project is a great example of the embracement of new technology in the ever-evolving music industry. The band’s recent albums haven’t been able to match the commercial success of 2006’s “Black Fingernails, Red Wine”, thus it is no great surprise that Warner Music have set them free from their recording contract.

Only the strong survive in the face of adversity, and Eskimo Joe wisely invested the profits of their erstwhile financial success into the development of their own recording studio, providing a level of freedom to create their art without being too concerned about the high hourly costs of renting professional recording rooms. This point, in conjunction with the band’s established fan base and Internet site, almost negates the requirement for ongoing support from a major recording label moving forward.

If Eskimo Joe can continue to earn a comfortable living from music [and love what they do], then the “donation approach” to recording & producing studio albums is a very prudent decision and it will extend the life of the band. The financial muscle of a major label is a boost to an artist’s ego, however the present state of the music industry suggests that many labels won’t be forgoing un-recouped artist advances in the future. Every artist fears being heavily in debt to a label, as other labels don’t wish to assume the liability…

If an artist or a band has their “goodwill” and the “tools of trade” to continue a career in music, then who really needs a record label?