We all know that the global financial crisis is making for some hard times. At the moment it seems like most of our mail exists in the form of bills, bills and more bills. So why not add a lil’ bling bling to our lives? Europeans (in this case, the French) have apparently found a shortcut.

Apparently, the story about a boy and his struggle to fame after living in Harlem and then finding himself in a top notch LA recording studio has become passé. Nowadays, becoming a music producer or even a musician has more to do with your internet connection speed. In fact, several European websites offer fans an opportunity to turn themselves into music producers simply by financing the recording artists’ flight to fame, starting with the first album of their release. “Mymajorcompany.com” is a perfect example of such new-age labels. The website was created in 2007 by three Frenchies, one of whom includes Michael Goldman, the son of a famous French artist. Jean Jacques Goldman.

Cannes’ Midem witnessed this new generation of labels: a young, interactive, web 2.0 and communitarian based concept allowing fans to finance music created by a number of up and coming artists.

The idea is simple. All it takes is a couple of minutes and some spontaneity. The first thing you do is create an account. Then you start bidding on your favorite artists. Once the artist hits a total of €70,000, he gets to produce his album and make a video. And if the album makes it to the top of the charts, just like Gregoire with his single “Toi + Moi” in 2008, then you and your co-producer mates will share 30% of the total sales.

Selection of the artists is somewhat draconian. “We only keep professional demos in which we see a potential of success”,  stated Simon Istolainen, one of the company’s co-founders, in an interview with L’Express.

In fact, from over six hundred applications, only eight are chosen to present their work on the website.

New-age labels are popping up everywhere in Europe. In Germany, Sellaban has already reached $1 million and in nine months has managed to finance a total of 14 artists. In France,  two other labels – Spidart and Nomajormusik – have also joined the race.

We can thank the French for finding the least tiring way to fame and fortune. After all, wasn’t the expression “Work more to earn more,” the motto of their very own Sarkozy?

www.mymajorcompany.com