Los Angeles, CA 5/31/14— MusicBizAdvice.com will accept Bitcoin virtual currency as payment for its music consultancy services starting in June, MusicAdvice.com Founder Randi Reed announced on the MusicBizAdvice Blog on Friday.
The move places MusicBizAdvice.com in position to be one of the first, if not the first, music business consultancy firms to accept Bitcoin virtual currency, as well as one of the first music business service providers to accept it.
It also happens just as many independent artists on the road at the height of concert season discover the hazards of attempting to manage themselves, or realize the cousin they hired to be their tour manager doesn’t know what he’s doing after all.
Says Reed, “Creative people need a variety of solutions. Bitcoin is a great option for Indie Musicians who don’t have a lot of immediate cash flow but need urgent advice about how to market their music or manage their band when something goes wrong on the road. A lot of them have Bitcoin they bought a couple of tours ago but never used because the services they needed didn’t accept it. By giving artists the choice of using Bitcoin, MusicBizAdvice.com helps them bridge that gap, which frees up more of their traditional cash for other things they need.”
Bitcoin will not replace other forms of payment MusicBizAdvice.com accepts, says Reed. “Bitcoin is one more avenue to make it easier for artists. We’re all about creative solutions, like the consultations I do through Clarity.fm (which does pro-rated per-minute billing for telephone consultations). You have to make it easy for clients in a variety of situations.”
Why haven’t more businesses embraced Bitcoin? “They’re nervous about the fluctuation in value. But we don’t see it that way. As an ex-musician, it’s very important to me to make things easy for musicians, not harder.”
MusicBizAdvice.com will use Coinbase, which converts Bitcoin into U.S. dollars, for processing its Bitcoin payments. On Friday, DirecTV also announced it will accept payment from its customers via Coinbase.
About MusicBizAdvice.com: MusicBizAdvice.com is a resource for indie musicians, songwriters, self-managed bands, and new managers and tour managers. Established in 1997, MusicBizAdvice.com has resources including a free website and online magazine by music industry professionals experienced in booking, artist management, and concert promotion at the Platinum level, as well as offline short-term consulting services.
The MusicBizAdvice.com website launched at its current URL in 2003 and has been utilized by Volunteer Lawyers of the Arts, Song U, and E! News. It’s also been featured on the News page of Bon Jovi’s official website, and its This Month in Music History was displayed at the entrance to the Hard Rock Cafe Surfers Paradise.
About Randi Reed: Randi Reed is an independent music business consultant who has worked in artist management, booking, and concert promotion from the local to Platinum level. She developed MusicBizAdvice.com in 1997 while battling a chronic autoimmune disease, CFIDS (sometimes known as CFS).
rreed (at) musicbizadvice (dot) com