About this episode
Order THIRD EDITION of How to Make It in the New Music Business: https://book.aristake.com This week, Ari is joined by David Rishty, the President of Palm Tree Records. They discuss Palm Tree’s partnership with Sony, the value of radio and satellite platforms like SiriusXM, and the many ways labels can help with artist development. Palm Tree Records is a joint venture with Sony Music, co-founded by Kygo and his manager, Miles. It operates as an indie label with major label resources, providing a small, tight-knit team and the support of a major label when needed. David Rishty's journey in the music industry began as a writer, penning features for a variety of publications including Billboard. During his tenure there, he launched the Billboard Dance 100 artist ranking and partnered with top brands including SiriusXM and Apple Music. His passion for building a brand crossed over to artist development early on in his rise with the founding of Exchange Management. In the seven years since its inception, Rishty’s artist roster has collectively earned more than 600 million streams and performed at over 400 shows. He has since brought this management mindset to Palm Tree Records, providing a holistic approach to artist development and creating a boutique label experience. Palm Tree’s roster remains select at less than a dozen artists, yet has amassed over 750 million total streams to date. Chapters 00:00 The Evolution of Dance Music and DJ Culture 05:14 The Role of Major Label Resources in Artist Development 09:04 The Importance of Radio Promotion and Other Revenue Verticals 11:24 Building a Brand and Fan Base with Palm Tree Records 24:00 Releasing Music and Establishing a Presence During the Pandemic 28:49 The Impact of SiriusXM and the Different Radio Landscape 35:18 The Power of Short-Form Video Content 47:21 The Importance of Trust in Label-Artist Relationships 55:28 Defining Success in the Music Industry Subscribe to The New Music Business: https://aristake.com/new-music-business-podcast/ Ari's Take Academy: https://aristakeacademy.com Watch more discussions like this: https://bit.ly/3LavMpa Connect with Ari’s Take: Website: https://aristake.com Instagram: https://www.instagram.com/aristake_ TikTok: https://www.tiktok.com/@aris.take X: https://twitter.com/ArisTake Threads: https://www.threads.net/@aristake_ YouTube: https://www.youtube.com/user/aristake1 Connect with Ari Herstand: Website: https://ariherstand.com Instagram: https://instagram.com/ariherstand X: https://twitter.com/ariherstand YouTube: https://youtube.com/ariherstand Connect with David Rishty: Website: https://www.palmtreerecords.com/ LinkedIn: https://www.linkedin.com/in/david-rishty/ Instagram: https://www.instagram.com/daverishty/ X: https://twitter.com/DaveRishty Edited and mixed by Ari Davids Music by Brassroots District Produced by the team at Ari’s Take Hosted on Acast. See acast.com/privacy for more information.