With Mark Hobbs, Pete Wentz on board, Verswire Reimagines Record Deal

After pioneering the more artist-friendly live streaming model as founder/COO of Veeps, which sold to Live Nation at an eight-figure valuation in 2021, Sherry Saidi has now set her sights on disrupting the big-brand business model. Saidi, veteran music director Nick Lippmann and Blink-182’s Mark Hobbs They teamed up to launch Verswire, which will use a venture capital approach to help artists make money and grow their businesses without going into debt while doing so.

Somewhat in the context of the long-running “Shark Tank” TV show, Verswire, which also counts Fall Out Boy’s Pete Wentz As a strategic advisor, we will make customized investments in both new and established businesses according to their needs, while also working directly with these partners as an incubator to order everything from distribution, sponsorship, artist development, and Web 3.0 strategy.

Rather than not making any money until they make a large down payment from a brand, artists will instead immediately participate in other revenue streams using Verswire and retain majority ownership for their masters. The stock split will depend on “when we think we’re going to break even and in what ratio, and what is fair to the artist,” Saidi told Miscellaneous. “They will always keep the lion’s share, because we’re dealing with artists as entrepreneurs for the first time ever.”

“Traditional record company deals never allow an artist to make money from or own their content, which still baffles me to this day,” she continues. “No other industry works this way. Mark, Nick and I are tired of seeing the same repetition of the same old business model that doesn’t serve the artist, no matter how anyone tries to wrap it up.”

Lipman says Verswire is very different from traditional artist service companies because “artist development is at the core of what we have. These collage style labels are a huge business that may not care about the quality of the music or the artist. We want to be a home to the people we all really care about from the top.” down “.

Having veteran stars like Hoppus and Wentz on the team is a huge step in that direction, with Hoppus in particular taking a major creative role and facilitating sessions with top songwriters and producers for the company’s first signature, Beauty School Dropout (pictured below). The Los Angeles rock band released a new single called Assassin today (May 25), Shows a video with appearances from Hoppus, Wentz and Paris Jackson.

“They really want to do the work to make the band happen, which is critical,” Hoppus says of the Beauty School Dropout, which is run by Lippman. “A lot of times the labels are going to sign something hot, I hope they can get a score and then move on quickly. We want to get back to, ‘Okay — the band started. what do you need? What can we offer you? How can we blow this thing up? “

lazy picture loaded

Cosmetology school dropout
Tori West

Wentz adds of the Beauty School Dropout, “They are wonderful kids and great songwriters, and they have a thorough understanding of the business.” “I talked to them about what they were doing with their NFTs. It’s always great when an artist has a very distinct perspective, because building that for someone can be very difficult if they don’t have it.”

By noting how the emerging blink-182 idea has been nurtured by veteran spectator teams like Pennywise, Hoppus hopes to bring an “all hands on deck mentality” to Verswire. “That’s what I loved about getting out of the punk rock community,” he says. “There was a spirit that when you get a chance to shine, you bring all your friends. That’s what I want to put in Verswire, so we can work with artists who are just starting out, at the height of their careers or are a self-running machine and we need very little of us. “.

Saidi says Verswire is about to sign four more artists and is also in conversation with the best in the non-rock genres to be involved as mentors and consultants at A&R. “We can handle everything, and resources will be allocated,” she said excitedly. “Our goal is to build the next multi-platinum sensations around the world while also taking care of well-known artists that the major brands don’t care about or properly cater to.”