About this episodeLea Steinberg joins the show to announce her new role as President of Gala Music, a Web3 platform that offers …AI summary
Lea Steinberg joins the show to announce her new role as President of Gala Music, a Web3 platform that offers artists a 70/30 revenue split and ownership of their work, contrasting sharply with traditional streaming models. The conversation highlights the platform's focus on artist autonomy, community partnership through collectibles, and global reach, while also touching on Steinberg's lifelong advocacy for youth empowerment and emotional intelligence.
Key takeaways 6
Gala Music offers a 70/30 revenue split in favor of the artist (70% to artist, 30% to fan/platform), which Steinberg notes is unheard of compared to the ~$0.10 per stream artists receive on Spotify.
The platform operates on a 'community stock' model where fans purchase collectibles (songs) to support artists, creating a partnership rather than a transactional relationship.
Gala Music is non-exclusive, allowing artists to release music on other platforms simultaneously, which is rare in the traditional music industry.
The leadership team at Gala Music is predominantly composed of women and women of color, including Crystal (Head of Marketing) and Devony (Steinberg's daughter).
Steinberg emphasizes that artists serve as 'translators' for emotional literacy and social issues, and warns against the unhealthy practice of putting artists on pedestals or ionizing them.
Gala Music is partnering with the Fashion Institute of Technology (FIT) for a semester-long educational partnership to teach students about the Web3 space.
Notable quotes 4AI-generated: wording and quote attribution may be wrong. Use the play link to verify.
“There is nowhere that I've ever seen artists walk away with 70% so the split is wow 730 artists favor”
▶ 5:04Lea Steinberg explaining the revolutionary revenue model of Gala Music compared to traditional streaming services.
“We have Wars all over artists have a massive responsibility so I encourage all listeners and all artists to understand that the only way we're going to challenge what's happening in Palestine in the Ukraine in the Congo is to use our voices instead of thinking about our material benefits”
Steinberg discussing the role of artists in global social and political change.
“We're the only country in the world that puts artists and athletes on a pedestal he should have not been on a pedestal he was a fractured broken young man who was hurt”
▶ 20:57Steinberg reflecting on Tupac Shakur's legacy and the danger of ionizing artists.
“It's really about forging a partnership between an artist and a community that supports them so if you kind of think of how the stock market goes you're getting stock in a company so this is like the community has stock in an artist”
▶ 12:36Explaining the concept of fan collectibles as a form of community investment in an artist's career.
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