IMD-3-2331 © 2012
Leleux, Benoit F.
In 2010 she attempted her luck once again with a participative music label in Paris called MyMajorCompany (MMC). MMC supplied a platform for emerging artists to promote themselves by publishing their music online. Unlike conventional music labels, MMC did not invest its own capital to introduce brand-new artists - rather it offered a crowdfunding platform (CFP) through which amateur financiers, likewise called "manufacturers," were able to money promising skills such as Licia with contributions of as little as EUR10.
Licia Chery And My Major Company Crowd Financing To Stardom Case Study Solution
MMC then put on its more conventional music manufacturer coat to produce the artist. In impact, the music neighborhood (the "crowd") chose whom to support through its financial investments, and MMC acted as the music producing arm of the cumulative desire. On 4 March 2010, less than 75 days after publishing her tunes on the MMC platform, Licia had 987 fans prepared to jointly invest EUR100,000 in her and an agreement with MyMajorCompany for a very first album.
Subjects: Crowdfunding; Crowd financing; Social network; Growth financing; Entrepreneurship
Settings: France; Switzerland ; Music; Crowdfunding ; 25 employees ; 2010-2012
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