BEVERLY HILLS (Hypebot) – US indie label trade group A2IM has joined Merlin in calling on MySpace Music to offer independent labels a equity stake similar to that given to the four major label groups.
"A2IM is disappointed that MySpace Music, previously a champion of independent music, has not included independent music labels as equity participants as they have done with the major labels, thus not giving independently owned music labels parity. We are also disappointed that the launch of the venture included only a portion of the independent distributors and aggregators leaving out a large number of independent artists and labels from the launch," said A2IM President Rich Bengloff.
"We at A2IM echo the comments of friends in the independent music community such as MERLIN, in our shared view that any independent deal struck without an equity component, (as was done with the majors), will see independent labels face a situation whereby their major competitors will profit from the use of their repertoire without an appropriate upside opportunity being extended to them by MySpace Music and its major label equity partners."
