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VC Cooperative Label Details,Buy in date announced

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Alright, we are close to finalizing all of the details for the Vinyl Collective Cooperative label. Read below how the process will work and feel free to offer your suggestions. The following has already been sent to our board members which will soon be announced to get their feedback as well.

The enthusiasm behind the Cooperative label has been fantastic. I am so excited about this project and am happy to say that we are ready to announce the buy in period. Unlike what was suggested on the message board, we will begin the buy in period on Friday, April 11th, at 10 am (Mountain Standard Time). Currently, each person is allowed to buy only 1 share. We will allow for up to 200 shares to be purchased and will evaluate next week if we will allow some to purchase more than one share. I appreciate everyone following this rule. I just want to allow as many people to be involved and would hate to see people miss out on this project because a few people bought a bunch of the shares. Shares will cost $60. This amount will get you between 2 to 4 records (depending on how many shares are sold) and will also cover your shipping costs for each of those records even if you live overseas.

Below you can read more of the details behind the Cooperative Label. Thanks so much for your interest, this is going to be fun.

We are offering between 100 and 200 shares at $60 per share. This would raise between $6,000 and $12,000 to work with which will give us the funds to press 2 to 4 albums at 1,000 copies apiece. Each shareholder will be given a copy of the rarest variation of the pressing for each record. Shareholders are promised at least 2 to 4 rare records, but if things go well, the revenue brought in for sales of the records will go to pressing new releases and in theory this initial investment of $60 could possibly bring in 50 records for each shareholder.

We have appointed 10 board members. Board members will communicate with the shareholders and help facilitate the nominating and voting processes for selecting new releases.

Each pressing of 1000 depending on the number of shareholders we will press 200 and 333 copies of 1 color and between 800 and 667 copies of another color. We will give the participating band and label each 10 percent of the pressing so things would break down in the following manner:

100 shareholders:

200 pressing (100 to shareholders, 10 to board members, 20 to band, 20 to label, 10 to Vinyl Collective, and 40 for sale on VC)

800 pressing (10 percent to the band, 10 percent to the label, the remainder would be sold to distributors and on VC)

200 shareholders:

333 pressing (200 to shareholders, 10 to board members, 33 to band, 33 to label, 10 to Vinyl Collective, and 47 for sale on VC)

666 pressing (10 percent to the band, 10 percent to the label, the remainder would be sold to distributors and on VC)

That leaves between 670 and 570 copies left for sale from each pressing. The idea is that the revenue from selling these records wholesale and retail on Vinyl Collective would a. go towards pressing new records and b. a small percentage go towards making a some revenue for Vinyl Collective.

With the help of 100 to 200 shareholders to spread the word, I think it shouldn't be too hard to sell through each of the pressings.

How bands are selected

– The 10 board members will communicate with between 10 and 20 shareholders. The shareholders will make suggestions (3 per nominating period) to the board members who will collect the nominated releases. We will find a site to put all the nominated releases where we can vote on which records should be pressed. Voters will pick a number 1 choice, a number 2 choice, and a number 3 choice where each vote 1, 2, or 3 will add varying points (3,2, and 1 point(s) respectively). The top 10 releases will be recognized and licensing rights will be requested from their respected labels starting with the #1 release on down to the 10th depending on how successful attaining the vinyl license. Once 2 to 4 releases out of the top 10 voted upon are secured, the nominating/voting process is over. A new nominating/voting process will occur once the first 2 to 4 releases have been pressed.

A couple of rules:

1. The release should have never before been released on vinyl.

2. For the first 2 to 4 releases, it is important that the record fits on a single LP. The addition of a 2nd LP throws our numbers off quite a bit, but we will consider doing double Lps after the initial 2 to 4 releases are pressed.

Revenue made from sales of LPs

We will keep track of sales and when we have sold enough copies to press another record (around $3,000), we will do the inducting/voting process over again. A new nominating/voting process will happen every 2 to 4 releases.

Copies of the LP will be sold to distributors for $6.50/$7.00, and will sell on Vinyl Collective for $9.99. Each month, a statement will be generated showing gross revenue received for sales of the records. When enough revenue has come in to press another LP (around $3,000), we will begin another nominating/voting period and will again contact labels to secure vinyl rights.

Transfer of Shares:

If at some point, you want to relinquish ownership of your share(s), the share will be offered for sale on the Vinyl Collective site for the same price you originally paid. The payment of said share will go back to the original owner.

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man i wish that we had at least some idea of what the records are gonna be...i'd be much more apt to become involved with this.

Yeah, that's my main concern... if anything I guess I could resell the records I have no use for.

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