I received an email from Fool’s Gold Records the other day that contained something very interesting… a link to join their brand-spanking new membership-based music service. Hosted on DRIP.FM, The Goldmine is exactly that. A $10 monthly subscription gets you the following (I’ve highlighted the perks I think are the best):
- EVERY Fool’s Gold release the moment it is released
- Early access to select tracks
- Exclusive GOLDMINE tracks: remixes, DJ sets, accapellas / remix stems and more
- Highlights from the Fool’s Gold back catalog
- All files available for stream or high quality 320 mp3 and WAV download
- Access your digital crate from any computer at any time
- All members receive a code for 15% off any order from the FG webstore, plus additional special discounts throughout the year
- Membership card with exclusive perks, including priority access to select events and more
In my opinion this is a great deal for any fan of the Fool’s Gold team, which includes purveyors of cool such as A-Trak, Kavinsky, Danny Brown, LA Riots and Kid Cudi. It’s even more of a screaming deal if you are a DJ that spins tracks from the Fool’s Gold stable, as the Dropbox-like digital crate gives you access to all your tunes wherever the Internet lurks.
From a fan’s viewpoint, The Goldmine is pretty cool and reasonably priced. From a business viewpoint, I think this a great way for independent labels to monetize their music in an innovative way (side note: why do they even sell CDs anymore?) Companies have loved the subscription/membership model forever, just ask any gym owner, newspaper baron or XXX webmaster. It gives Fool’s Gold an invested and dedicated audience and rewards the user by giving them exclusive perks they can’t get anywhere else. As long as they keep the new content rolling, it seems like a win-win to me and I expect other indie labels to experiment with this business model in the coming months.
And if you join now, you’ll be one of the first to have the new A-Trak x Dillon Francis track that drops next week…
Tags: A-Trak, business viewpoint, danny brown, DRIP.FM, Dropbox, Fool's Gold Records, indie labels, join the club, membership-based music model, sell your music, The Goldmine


