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This 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.
Chapters
00:00 The Evolution of Dance Music and DJ Culture
05:14 The Role of Major Label Resources in Artist Development
09:04 The Importance of Radio Promotion and Other Revenue Verticals
11:24 Building a Brand and Fan Base with Palm Tree Records
24:00 Releasing Music and Establishing a Presence During the Pandemic
28:49 The Impact of SiriusXM and the Different Radio Landscape
35:18 The Power of Short-Form Video Content
47:21 The Importance of Trust in Label-Artist Relationships
55:28 Defining Success in the Music Industry
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Edited and mixed by Ari Davids
Music by Brassroots District
Produced by the team at Ari’s Take
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The New Music Business with Ari Herstand