David Rosenthal: belief

Transcript context

…If you go look up Universal Music Group, you can see that there are a thousand labels within UMG. I think for a lot of these big label groups, they'll even have competing wholly owned labels. There might be two, three, or four RCA labels in Nashville, in New York, or in Hollywood. This time, once again, Taylor does not get a record deal, but RCA offers her a development deal, which is not a record deal, obviously. It's like, hey, we're going to invest resources in you and make a record that we're then going to release. We'll get it on radio and see how you do. A development deal is like we think you have potential, we're not ready to commit to a full record. It's like a small check from a venture firm. We’ll participate in the round, we're not going to lead it though. I assume it's limited investment but limited upside. It's more about making sure you have relationships with the right people. We can keep an eye on you should you start to really shine.…

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