A new record label called Dreams of Field Recordings will be owned and operated by Christian Holden of The Hotelier and Chad Matheny of Emperor X, which is already hosting the back catalogs of both arists.
Per the initial press release:
Inspired by solidarity economics, credit unions, and established international cooperative principles, DoFR aims to create a new kind of artist-controlled and financially-transparent label structure that is vitally essential to the art and music communities of our current time. In the long term, they hope cooperative label structures will catch on as a viable model for music scenes everywhere, forming a network of artist-cooperatives that offer a practical alternative to both the bland conformity of media megacorps and the financial insolvency of many DIY operations.
More info about the unique structure and mission statement is posted after the jump. The decision and concept follow the social media issues voiced about their former label.
Dreams of Field Recordings will function much like other independent labels but with three key differences that make the DIY/punk ethos an explicit, rather than implied, part of its financial DNA:
1. NON-PROFIT MOTIVE: 100% of the label profits must be reinvested into member-artists and their releases. While many labels spend profits more or less like this already out of good faith, DoFR will bake this requirement into artist contracts and its founding articles of organization. This removes economic incentive to invest only in projects that are more likely to sell, leaving more room on the release schedule for albums that challenge the current state of music.
2. DEMOCRACY: Major decisions (such as signing new bands) will be made by a board of all artists signed to the label on a consensus basis. Day-to-day operations will be carried out by working groups (paid people), performing the tasks label owners perform, but accountable to the artist board.
3. TRANSPARENCY: Label financial statements, including a list of all label/artist revenue and costs, will be available to the public on DoFR’s website. This is an attempt to eliminate the confusion of music makers and their fans about how capital flows around music communities.
