"The "Tugboat" 7" single, Galaxie 500's very first release, cost us $980.22 for 1,000 copies-- including shipping! (Naomi kept the receipts)-- or 98 cents each. I no longer remember what we sold them for, but obviously it was easy to turn at least a couple bucks' profit on each. Which means we earned more from every one of those 7"s we sold than from the song's recent 13,760 plays on Pandora and Spotify. Here's yet another way to look at it: Pressing 1,000 singles in 1988 gave us the earning potential of more than 13 million streams in 2012."
: Damon Krukowski of Galaxie 500 and Damon & Naomi
breaks down the meager royalties currently being paid out to bands by streaming services and explains what the music business' headlong quest for capital means for artists today. [more inside]
It's been a hectic and exciting week and it's barely half over. Let's slow down and take a trip over the ocean
... [more inside]
The best band you've (maybe) never heard of...
Dean Wareham, formerly of Galaxie 500
, gives his top ten reasons for retiring the band. With sounds rivaling and reminiscent of Velvet Underground
,and LLoyd Cole
, Luna bids farewell.