As technology changes media, media starts looking like technology. Silicon Valley has always been fueled by venture capital; now Motown can court investors instead of labels. The New York Times has a great piece today about Polyphonic, a venture capital firm for independent musicians. Their portfolio includes the Toronto alternative band Metric, which has actually rejected multiple offers from big record companies.
Even record labels are getting in on the Internet-powered indie artist trend: EMI now has a special division providing a la carte management services to unsigned artists. The former overlord is now playing the provider.
Between VCs providing capital and labels providing services, it’s only a matter of time before artists unlearn corporate worship and reclaim their music. If your starry-eyed musician friends still think you’re a detached geek for reading new media blogs like 901am, send them that NYT article. It will make them rethink their outdated dream of landing a record deal.