Image by: Aditi Tailang
Lee parsons, Co-founder and CO CEO of Ditto Music, talks about the global music distribution company.Q: Why did you set up Ditto Music?
My brother [Matt] and I started Ditto to build something that could threaten record labels. It’s a platform for musicians to upload music that would be distributed to online music stores globally, for a subscription fee. We ensure transparency. Musicians would be paid every month and receive 100 percent of their royalties. Q: How do you make money?
We have 1.5 lakh annual subscribers, paying $19 to $500. Our ‘Record Label-in-a-Box’, a pack for musicians to set up their labels, generates a lot of money. We’ve deals with artists who are making millions per year. Q: What’s the plan for India?
We want to get into non-Bollywood, regional, ethnic and independent music. When we launch, we do a big talent contest to find artistes. We will do the same here. Q: What will be subscription rates?
I can see it being around $5-10. If you have two artistes, it could go up by like 20 percent.
(This story appears in the 06 July, 2018 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)