Labelcoin Expands Team Hot Off SXSW Launch Success

02 May 2023 - Press release

 

A robust team joins co-founders Mark Miller and Chad Petterson following the launch of Labelcoin at SXSW in March 2023.

Team Labelcoin is launching their Business Advisory Council, a network of highly experienced executives from multiple related industries who are excited about this merger of finance and fandom centered around the needs of artists. Labelcoin is an investment marketplace striving to end artist poverty with fan-supported investment in artists’ songs. 

The Business Advisory Council will join a strong and growing team of leaders and advisors at Labelcoin. Besides its experienced and passionate management team, Labelcoin has added Advisory Board members Ari Herstand (“the poster child of independent music”) and John Platillero (founder and former CEO of EventBooking.com) and has built a 5-member Artist Advisory Council consisting of Jonah Baker, Kirsten Collins, Megan Davies, Melinda Doolittle and King Topher.

While members of the Artist Advisory Council give perspective on challenges faced by artists and help create new features and functionality for the app, Business Advisory Council members will bring a diversity of experiences and perspectives to help guide Labelcoin in its strategic planning, decision-making and relationship development.

Labelcoin envisions this council will consist of approximately 10 business leaders from a range of relevant industries, including venture capital, trading, mutual fund management, Web3 technology as well as other entertainment-related areas such as television and film. It will also include executives from the music industry to complement the artists on the Artist Advisory Council.

Thus far, the Council consists of Mark Dvornik (former Head of U.S. Distribution at Paramount Pictures), Bob Farnsworth (a Nashville-based music industry veteran and Founder and President of Hummingbird Productions), Lee Guzofski (Founder and CEO of G2G Enterprises) and Loren Johnson (CEO of MRSV Media).

Mr. Dvornik brings TV and film experience from his time overseeing domestic distribution of Paramount Pictures’ $4 billion catalog and from his many years of running television and film studios. Mr. Farnsworth brings 47 years of experience navigating the ever-changing landscape of the music business. He has created some of the world’s most memorable marketing campaigns — from the “Bud Frogs” Super Bowl commercial to unforgettable classics such as “I Wish I Were an Oscar Meyer Weiner” and “Always CocaCola” — with music and creativity being the common thread and central theme to his success. Mr. Guzofski brings perspective from the NYC finance scene and Web3/Web4 as a builder of virtual worlds through augmented reality. Mr. Johnson is a seasoned music industry professional, with experience in branding, production, distribution and artist services. He has served as a producer and/or consultant for GRAMMY Award winning producers and artists as well as INC 50 entrepreneurs. Additional members of the Business Advisory Council will be announced in the coming weeks.

“We are so proud of the support coming from this council,” says Labelcoin CEO Mark Miller. “These executives have proven themselves as initiators of growth and success. Their combined experience will be a great asset to the Labelcoin team.”

“I see great potential for artist development with Labelcoin and am excited by the prospect of advising this team and what this will mean for artists,” says board member Bob Farnsworth. “Beyond bringing experience in music and finance, the Labelcoin team brings passion and heart to an industry so in need. That speaks for itself.”

Artists sell portions of their digital streaming royalties on the Labelcoin Song Exchange, an open stock marketplace where artists have complete control over their royalty rights and decisions about their music. Labelcoin was founded by Mark Miller, previously a touring musician himself, and Chad Petterson, a former Wall Street investment banker and founder of Nashville's music charity HOPE-20.

Over 250 artists, with over 52 million followers and over 2.2 billion streams, have been waiting to get their songs onto the platform.