Looking forward: Teenage Fanclub enjoy autonomy within Republic Of Music
FINANCIAL SERVICES
Accountancy firm CC Young on going it alone
W
That adaptable approach is also evident within campaigns themselves. “The structure of our global team is designed so that we can, and do, adapt campaign strategies to optimise what’s happening with a record on a particular platform, market or demographic,” explains Ingrooves’ Roden who has over 20 years of industry experience behind him. “As we’ve seen in the past year with many artists, when a track breaks out on TikTok, we have to be ready to react as a team. Finding new targeted audiences in growth markets, identified by our AI-powered data insights, and leveraging the data to increase cross-platform exposure for the track and the artist.”
“In terms of 2020, for our labels’ and artists’ campaigns, our mantra always was that lockdown doesn’t mean shutdown,” he adds. “If an artist can’t tour or promote their release in-market, let’s find ways to do the same but virtually. And at other times, we found real-world workarounds. For example, lockdown didn’t stop Boy Pablo promoting his album in multiple cities around the world, thanks to lifesize cardboard cutouts that our local teams took for impromptu photoshoots in their respective cities.”
T
he adaptability of a tailored label services arrangement also applies when nice things happen, for example, sold-out shows
(remember those?).
“When a record takes off like Dave’s Psychodrama, we were able to get records pressed and delivered directly to the venue for his sold-out dates at Brixton Academy within four weeks,” explains Hoxton Vinyl’s Dennis. “When he was nominated for the Mercury Prize, we were able to react quickly and have the record back into production and in stock in no time to capitalise on sales. The same happened for Gerry Cinnamon’s album Erratic Cinematic. The vinyl sold out the first weekend it was released following sold-out shows. We were able to get it back
52 | Music Week
“We are a partner who is there to help artists achieve their goals” MARLEY
DENNIS Hoxton Vinyl
in stock in short order to capitalise on the success of the record.”
“We can take on the label role, so
bands can make music” MARK
McQUILLAN Republic Of Music
With the mix of adaptability, rights arrangements and industry experience, label services deals have proved increasingly popular with established acts for whom A&R guidance is no longer a priority. Having worked with them on their 2016 album Here, McQuillan’s Republic Of Music has become something of a support network for golden indie-pop purveyors Teenage Fanclub. “Here was their first Top 10 album since 1987, and we are currently working on their tenth album Endless Arcade, out on April 30. We have put in place all the promotion teams around the world and are co-ordinating the whole campaign, distributing physically and digitally worldwide – with the exception of the US where Merge licensed the album – as well as running the band’s D2C platform, setting up vinyl exclusives with the likes of Dinked Edition, Rough Trade and
Recordstore.co.uk and handling all the manufacturing,” he says of the vast scope a label services deal can cover. “Basically we are doing all of the day-to-day and practicals of releasing an album, as well as financing, removing the need for a label, so the band can concentrate on making music knowing they are in very capable hands.” However, McQuillan is also keen to stress that while label services have a great reputation helping artists with an existing fanbase, they can also further the careers of new acts who do not feel a label is quite the right fit.
“For artists just starting out we can give them valuable advice on the best ways to get their music into the market,” he adds. The Orchard’s Dutt agrees, suggesting the culture of label services can actually encourage some fledgling acts. “I wouldn’t want to presume that what we do is particularly any different to a label, but I do think there is one key difference – and that’s pressure, or,
ith artists and management teams able to cherry pick the help they need
for releases via label services, it is important not to forget there are some tasks labels have traditionally done in the past that still have to be done.
“Label service agreements turn the traditional
license deal on its head,
the artist becomes their own label and can therefore retain a greater share of the income provided they can finance and administer their releases with the help of a label services partner,” explains Adrienne Willen, senior rights manager at accountants CC Young & Co’s rights management department. “With increased royalty rates comes increased responsibility.” Tasks could include managing producer and third-party
accounting, retail licences and more. “All of this may seem daunting but with the support of an excellent accountant it is entirely manageable,” suggests Willen, so much so that she and her colleagues will do it for you.
“It’s a common misconception that the accountancy role only extends to number crunching,” she adds. “Beyond the compliance work we also provide repertoire management services, royalty audit and analysis. Record labels often have in-house accountants and large finance departments, an artist acting as their own label doesn’t have this – which is where we come in. “As accountants we have the ability to advise from a financial perspective on which direction the artist should consider for their recording deals, and can bring our experience of working for indie labels to the artist as a label model. The role of the accountant is flexible and stretches all the way through the music sector.” A deeper look at CC Young, and the role of a music industry accountant, starts on page 69
musicweek.com
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