We all love music right? That’s why you’re here reading the pages of Overblown. While the vast majority of us simply listen, buy more records than we can afford and troop along to gig after gig, there are the heroic few amongst us who take things a step further and set up their own label. We’re forever grateful to every last one of them, they make the world, as well as our record players, keep on turning.
Very much in its infancy is Last Night From Glasgow, a label that’s yet to see its first release but is edging ever closer to that landmark. What’s interesting about this particular label is the concept behind it, a co-op of sorts and undoubtedly put together with all the best of intentions and a business plan to realise them.
Last Night From Glasgow has been formed by six like-minded individuals with a common goal, to share some of the music they collectively love. However, it was the question of how to share that music that led to the concept. How can we make it as beneficial to the artists as possible? How can we make it as affordable to the public as possible? How do we make the whole experience as personal as possible to the music loving public? How do we fund it?
Admirably, the label has been set up to be run entirely as a not-for-profit venture (profit? From an independent label?) with the aim of releasing four or five records per year. It’s been created specifically to support artists who may otherwise struggle to release their music in a physical format and to do so in as fair a manner as possible.
Like any business model this relies on funding. As well as an initial financial outlay from the six co-owners the label will rely on attracting members who are asked to pay an initial £50 for their first year of membership. Members will receive all of the physical releases (on vinyl, of course) as well as downloads of each release. They will also be invited to live shows, events, can suggest artists for inclusion on the label and potentially get involved in the creative process. It’s the involvement of the members that LNFG believe will allow this model to thrive.
What about the artists themselves? The business model guarantees they will be paid for their music on a sliding scale depending on how many of the records are sold (300 copies of each record will be pressed). The artist is never locked into any long term contract and the label does not own any rights to their music other than for the physical products produced. Essentially the cycle is as follows:
- Raise the funds to press the first release through self-investment and attracting members
- Sell the records at a fair price through the website, through independent shops, through the artists themselves and through word of mouth marketing from members
- Pay the artist based on the amount of records sold
- Any remaining profit made through record sales is added to the existing subscription money to go on and produce the next record.
Who will the artists be? Well, we don’t know yet but with the first release on its way shortly all will soon be revealed. In terms of a hunting ground, Glasgow doesn’t fall short in terms of quality and variety when it comes to music. This is where the element of trust comes in. Many record subscription clubs rely heavily on their reputation as well as the loyalty and enthusiasm of music fans to trust their output. Whilst LNFG fully intend to build a positive reputation it is the business model itself that they’re currently selling; the opportunity to be part of a process that genuinely helps artists as well as providing fans with great products. Knowing that nobody other than artists will make any money from this process is a key selling point. It’s also refreshing to read the wealth of information on their developing website where it’s clear transparency and honesty is their policy. All very commendable. LNFG we wish you all the luck in the world.
Sounds interesting? Find out a lot more including how to become a member at Last Night From Glasgow