Record Union´s expedition to the MIDEM music conference was a huge success! Everyone we spoke to were enthusiastic about our concept and especially our business model, which guarantees no upfront costs for artist wishing to distribute their music. This enthusiasm reinforced our belief that having no upfront costs will make our offer more attractive to artist, who realise that engaging in a digital distribution agreement with Record Union caries little risk and has the potential for great rewards. We put faith in our artists that their music will sell, and do not want to bog them down with payments before they have tasted the benefits of digital distribution.
During the conference, we secured oral agreements with half a dozen powerful music stores, which now puts the reach of our distribution to well over 95% of the global download market. This is a great achievement; for now we can confidently say we are one of the most, if not the most, powerful digital distributer on the market!
With approximately 8000 visitors at the conference, there was networking going on by the plenty. And as you can imagine, a mass exchange of business cards. What was particularly popular were the Record Union pens, which, whether taken for practical purposes or a reflecting a genuine interest in Record Union, now require a new order! What is especially encouraging for us of the new music generation is that online services dominated the conference, and there were many great ideas being developed by entrepreneurs all over the world. There was a shared feeling that the music industry is uncertain of where it is heading, which presents itself as a great opportunity to forge new ideas. One thing is certain, however, and this is that online services will play very important role in the new music environment.
Other than this, there were great live performances from a diverse range of artists showcasing their talent, and it was quite the party!