Ditto was started to threaten record labels: Lee Parsons
The music distribution company wants to get into regional and independent music in India
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. To visit our Archives, click here.)
