Magnatune - the first real internet era record label
Magnatune was founded in April 2003 by John Buckman and is located in Berkeley, California. Magnatune was born out of Buckman’s observations he’d gathered about the music industry, along with personal experiences from his wife releasing her CD on an Indie record label. In the end, she sold 1000 CDs, lost all rights to her music for 7 years (even though the CD had been out of print for many years), and earned a total of $137 in royalties paid (some of it paid to her as CD copies of her own CD which she then gave away for promotion).
