March 20, 2016 – Satsang – Pyramid(s)
December 1, 2016 – The Holdup – Leaves In The Pool
September 16, 2016 – Giant Panda Guerilla Dub Squad – Make It Better
August 19, 2016 – HIRIE – Wandering Soul
April 8, 2016 – The Movement – Golden
About: “Artists releasing their music through Rootfire Cooperative receive money from their album sales directly from their distributor, which they use to repay their loan. Rootfire Cooperative doesn’t take any portion of an album’s profits, recouping only its invested funds, and the artists maintain 100% ownership of their music throughout the entire process.” – as featured on Billboard.com May 4, 2016
Rootfire Cooperative was created through a joint partnership between Ineffable Music Group and Rootfire. The intention behind developing the label services program was to provide interest-free loans for the production and marketing of recorded music.
The Movement’s album Golden was the first release on Rootfire Cooperative, followed by albums from HIRIE, Giant Panda Guerilla Dub Squad, and The Holdup.
Updated: December 7, 2015
Rootfire Cooperative Mission: To positively contribute and participate in the progressive roots, reggae, and dub community by providing resources to artists for production, marketing, and manufacturing of recorded music.
When an Artist releases music through Rootfire Cooperative, the Artist maintains 100% ownership and control of their music. The name and logo “Rootfire” and/or “Rootfire Cooperative” is only applied in the traditional “label sense,” in that it becomes a recognized symbol showing the Artist is a member of the cooperative and through its membership is dedicated to furthering progressive roots and reggae culture as a whole.
Rootfire Cooperative’s mission is to provide assistance in the creation and release of recorded music. Rootfire Cooperative provides both interest free micro loans as well as administration services for Artists who seek an alternative to a traditional record deal.
Cooperative: an autonomous association of people who voluntarily cooperate for their mutual social, economic, and cultural benefit.
Microloan: a small, short-term loan with a low interest rate, usually extended to a start-up company or self-employed person. Typically, these loans do not exceed $35,000. Microloans started as a solution for impoverished borrowers in underdeveloped countries.
Distribution: Artists are given the option of releasing music through their preferred distribution partner(s) or to work with Rootfire Cooperative to establish distribution partner(s) who fit the nature of the release.
Collection of Income: Income is collected by distribution partner. Distribution partner then makes payments directly to Artist. Artist agrees to provide Rootfire Cooperative with all album income statements; with the purpose of staying current on loan repayments and sales projections.
Microloan Financing for Marketing, Manufacturing, and Production:
Rootfire Cooperative and Artist develop mutually agreed upon album campaign budget. For the term of the campaign, Rootfire Cooperative provides funding in the form of direct payment to vendors on Artist’s behalf, which shall be counted as a loan.
Terms of Loan:
Artists agrees to repay loan under the following terms:
All income generated from album will be applied towards loan until the loan is paid in full.
Artist makes Rootfire Cooperative loan payments matching the amounts Artist received from distribution partner; on a schedule identical to that of payments received by Artist from distribution partner. Artist shall make loan payments to Rootfire Cooperative within 30 days (net30) of Artist receiving income from distribution partner. For example: If Artist is paid by distribution partner twelve times per year (monthly), Artist makes Rootfire Cooperative twelve loan payments per year; likewise if Artist receives payments from distribution partner four times per year (quarterly), Artist makes Rootfire Cooperative four loan payments per year; matching the full amount Artist received from distribution partner until loan is paid in full.
Income generated from album sales at live shows will not be applied into album budget and will be retained by Artist. However, Artist will report album sales weekly, to be used in Soundscan reporting.
Explanation of Cash Flow generated by Album Income:
- Income is collected by distribution partner →
- Income is paid out to Artist from distribution partner →
- Artist makes loan repayment to Rootfire Cooperative in the equal amount of income received from distribution partner until loan is paid off
Revenue sources applied directly to loan:
- Physical + Digital Album Royalties
- Soundexchange Master Performance Royalties
- Master side of Sync Payments (ie 50% total Sync income)
- Pre-order physical sales from Artist’ webstore
- Mechanicals (only if they are paid out to any guest Artists or musicians outside of band)
- Income generated from album sales at live shows
- Soundexchange Artist Performance Royalties
IV. Expenses paid for as part of Rootfire Cooperative:
Expenses associated with album campaign that will be paid by Rootfire Collective:
- Publicity Campaign
- Radio Campaign
- Album Art
- Tastemaker Mailing
- Advertising + Advertising Administration
- Artist Website Updates (if required for pre-order campaign)
- Press Photos
*This list is evolving and is not limited to services mentioned above. Artist and Management will work together to determine expenses on an album-by-album basis.
The amount of funding is completely dependent on Artist’s sales history with the benchmark being that a full album campaign including production, manufacturing, and marketing shall break even within 12 months of date of release.
For Artists with proven album sales history Rootfire Cooperative will provide an extended production loan advance up to $25,000 to be applied towards:
- Studio Booking Fee
- Engineering + Mixing Fee
- Musician PD’s during recording sessions
- Guest Musician Fees
- Lodging + transportation
Name and likeness: Rootfire and Rootfire Cooperative
The name and logos for both Rootfire and Rootfire Cooperative shall be used in all areas that a record label’s name typically appears including album spine and back cover on packaging, the P & C lines; with the aim being to further establish the leverage of the Cooperative. It is understood by the Artist and Rootfire Cooperative that Rootfire Cooperative waves all rights and liabilities towards any ownership of the music or master recording.
The album release will be given a number that establishes it as part of the Cooperative. ex: RFC001 or RFCOOP001
Press releases will include Rootfire Cooperative name where typically record label would be mentioned.
ie “The new album by BAND XXX coming out Sept XX through Rootfire Cooperative.”
VII. Length of Terms:
Artist agrees to terms until loan is repaid in full, whether from album sales or direct payment from Artist to Rootfire Cooperative. Once loan is repaid in full, Artist is able to continue as part of Rootfire Cooperative under current structure, or to re-release album in a manor of their choosing.
Rootfire Cooperative Accounting:
Rootfire Cooperative will provide loan statement for all loan payments made by Artist, updated monthly until the loan is paid off.
VII. Artist Agrees to Support the Cooperative:
Artist acknowledges general agreement with the following aphorism: “a rising tide lifts all boats”
The aphorism “a rising tide lifts all boats” is associated with the idea that improvements in the general economy will benefit all participants in that economy, and that economic policy, particularly government economic policy, should therefore focus on the general macroeconomic environment first and foremost.
By subscribing to this ideology, Artist agrees to reasonably and authentically support and promote the goodwill of Rootfire Cooperative as a whole.