word on the street is that spinART records has gone out of business and filed for bankruptcy. i wish i knew when that became official, because it’s a very sad day in this world, one that should be marked on the calendar and never forgotten.

spinART had a reputation for signing up-and-coming bands as well as bands that were tired of, or unable, to play the major label game. not only did spinART claim to provide great support to their artists, but they strived to treat them fairly - not just as business partners, but like they were family. of course some artists may have been more like a brother, while others were like the red-headed stepchild, but family nonetheless. what family is there that doesn’t have favorites?

but if spinART couldn’t succeed in the music industry these days, then i really think no one can. if spinART’s business model couldn’t provide them with enough capital to survive, then no model will work; it really should have been quite lucrative for them.

so on this sad day, i wipe away my tears and wish jeff price (founder of spinART) the best of luck. it looks like he’s landed on his feet and was able to walk away from the spinart debacle unscathed.

at his new endeavor, tunecore, (founded in november 2005), jeff aims to:

revolutionize the way artists are able to get the money generated from the sale of their music by eliminating payment or royalty “periods” and allowing them to take their money when they want it, the moment it becomes available, and

deliver all the money from around the world owed to our artists, including money they might not have otherwise collected due to copyright laws, international tariffs or regulations of other countries, and

enable an artist to make money doing what they love

noble goals, all about making sure the artists are actually compensated for their work. i wonder if tunecore can exploit some tricks of the trade jeff learned from his days at spinART.

something else i noticed in an article from january 2006, jeff explains his thoughts behind tunecore. he commented that “Labels and aggregators pay out your money in “royalty periods”. For example, they will pay you every three months and send your money only after they have taken their 9% - 50% cut.”

hmm…that actually sounds like a good deal compared to some others that i’ve heard of. better to get paid every three months after having 9%-50% taken out, rather than not getting paid at all.

jeff also says that creating tunecore “is also my rant against these companies screwing over artists. It was time to do something about it.”

well bravo jeff, i commend you and i agree. i also hate record companies that screw over artists and i think it’s time to do something about it.

let’s see what happens.