![]() ![]() All of these experiences helped me along the way. We did a lot of shows which were incredibly popular, and suddenly I was working in a context that mattered, stitching together stories. I stumbled onto the world of storytelling, and just fell in love with it. I was the only person in the room who was good with numbers, while everyone around me was ten times more creative than I was. I took a huge salary cut, but I stumbled upon something I really loved: the passion economy. He was running a TV production company, so I joined him. I met with tons of people in different industries, and eventually ran into a punk rocker from the north of Sweden. I took a lot of the learning with me, and did some soul-searching. But I was looking for progress and evolution, and consultancy seemed like more of the same. I saw the value of a culture of ferocious learning which was important. I learned what the world expects in order to succeed on a global scale. My work with an American management firm was pivotal, because I got a look at the level of ambition out there. If you bring something unique to the table, it really makes you feel good, it gives your brain a shot of endorphins. One thing I learned by working as a management consultant is that it’s incredibly powerful to have a pool of different people with different skills and backgrounds. You need to be good at the trade before you dive in it’s almost a prerequisite. I think that’s important, because we all have different skill sets. You could say that I play the guitar in self-defense. Oscar Höglund: Well, I often joke that I’m probably the least musical person at the office. But even before that, how did you get started? Gustaf Lundberg Toresson: I guess you could say that Epidemic Sound has been around since the Dark Ages of the Passion Economy, the very beginning. Leaving music creators with only a small fragment of royalties for themselves.īut with this new model, all that is changing. This model is unique in an industry which traditionally split royalties in a multitude of directions, awarding a share of the profit to every individual who participated in the music’s creation and production. In 2022, the bonus is set at $2 million but will grow as the business grows. Additionally, there is a bonus pool that is distributed proportionally among creators based on the popularity among users. They pay an upfront fee of USD 1,200-6,000 per track when acquiring the rights to a track, and their creators earn over $50,000 on average per year with top earners making more than $200,000 annually. A subset of music gets picked up by fans, and Epidemic Sound splits the royalties evenly 50/50 with music creators. The compensation for musicians is obviously another important aspect of this industry disruption. They can also connect musicians with billions of storytellers. In contrast to the historic infrastructure of the music industry, Epidemic Sound has the ability to acquire a huge catalog of music to share with end users. Creators on Epicdemic Sound supply their tracks to a catalogue on the marketplace Emma Waleij
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