Here's an article from Billboard: http://bit.ly/7qevgk

The concept was very interesting but unfortunately it had a lot going against it, which is why Jake got out of the music industry.

Jake didn't really know all that much about the music industry... he didn't know promoters, or booking agencies... having these connections are still very important, just like in any industry.

Also, Francis and the Lights are incredibly idiosyncratic and would rather not deal with the industry on any terms other than their own... which doesn't make for the best business partnership.

Independent labels still fulfill this role.. to an extent. What they are mainly lacking in is capital and a way to recoup, as bands do not sign contract for anything other recording.

It would seem that a company with the right contacts in the music industry, a good amount of capital to invest, and an all encompassing approach to the artists income would have a shot at becoming profitable.

There is most definitely money to be made from music, but understanding the intricacies of the this new marketplace are more complicated than most people are willing to admit to themselves.

Disclaimer: Jake and I have been good friends since college.