Order THIRD EDITION of How to Make It in the New Music Business: https://book.aristake.comThis 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.Chapters00:00 The Evolution of Dance Music and DJ Culture05:14 The Role of Major Label Resources in Artist Development09:04 The Importance of Radio Promotion and Other Revenue Verticals11:24 Building a Brand and Fan Base with Palm Tree Records24:00 Releasing Music and Establishing a Presence During the Pandemic28:49 The Impact of SiriusXM and the Different Radio Landscape35:18 The Power of Short-Form Video Content47:21 The Importance of Trust in Label-Artist Relationships55:28 Defining Success in the Music IndustrySubscribe to The New Music Business: https://aristake.com/new-music-business-podcast/Ari's Take Academy: https://aristakeacademy.comWatch more discussions like this: https://bit.ly/3LavMpaConnect with Ari’s Take:Website: https://aristake.comInstagram: https://www.instagram.com/aristake_TikTok: https://www.tiktok.com/@aris.takeX: https://twitter.com/ArisTakeThreads: https://www.threads.net/@aristake_YouTube: https://www.youtube.com/user/aristake1Connect with Ari Herstand:Website: https://ariherstand.comInstagram: https://instagram.com/ariherstandX: https://twitter.com/ariherstandYouTube: https://youtube.com/ariherstandConnect 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/DaveRishtyEdited and mixed by Ari DavidsMusic by Brassroots DistrictProduced by the team at Ari’s Take Hosted on Acast. See acast.com/privacy for more information.