EP 61: Dan Runcie (Founder, Trapital) on the Business of Music and What Founders Can Learn from the Top Artists

Dan Runcie is a music industry analyst, writer, and the founder of the newsletter and media platform “Trapital.” Trapital focuses on the business strategies of hip-hop and offers insights into the intersection of culture and commerce in the industry. Runcie has been featured in publications such as The New York Times, Billboard, and Forbes. Dan joins the podcast this week to discuss the business side of the music industry, specifically in the context of hip-hop artists. Logan and Dan go into the relationships between major record labels, Spotify and artists, the impact of TikTok, the current state of touring, how new artists are discovered, and lessons for entrepreneurs that can be learned from successful hip-hop artists.(0:00) Intro(1:02) Welcome Dan Runcie(9:15) Primer on the music industry today(16:19) The impact of streaming(20:43) Artist-Label dynamic now vs 20 years ago(30:55) Artists selling their back catalog(35:35) Touring is broken(40:54) TikTok's dominating influence(46:05) Lessons entrepreneurs can take from hip-hop artists(1:01:13) The Trapital Story(1:12:47) The state of Trapital today(1:15:06) Lessons internalized in creating Trapital(1:20:48) Determining who is an interesting podcast guest Show Notes:https://trapital.co/ Mixed and edited: Justin HrabovskyProduced: Rashad AssirExecutive Producer: Josh MachizMusic: Griff Lawson 🎙 Listen to the showApple Podcasts: https://podcasts.apple.com/us/podcast/three-cartoon-avatars/id1606770839Spotify: https://open.spotify.com/show/5WqBqDb4br3LlyVrdqOYYb?si=3076e6c1b5c94d63&nd=1Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zb0hJZkhWbg 🎥 Subscribe on YouTube: https://www.youtube.com/channel/UCugS0jD5IAdoqzjaNYzns7w?sub_confirmation=1 Follow on Socials📸 Instagram - https://www.instagram.com/theloganbartlettshow🐦 Twitter - https://twitter.com/loganbartshow🎬 Clips on TikTok - https://www.tiktok.com/@theloganbartlettshow About the ShowLogan Bartlett is a Software Invest