Toyota, yes the car company, is apparently launching a record label in conjunction with its Scion line of cars. The announcement was made at the SXSW conference:
“We’re not making a profit from this,” Jeri Yoshizu, sales promotion manager of Scion said. “We are enabling unsigned artists to get their feet up.” She added the program is not for consumers, but to promote underground artists.
Makes me wonder just how bad the state of the music industry when you get companies launching their own record labels. Toyota isn’t the first, I am sure you have seen Hear Music at Starbucks. Even though they claim they are not making a profit directly, there must be some money in it. I don’t imagine that launching such a venture comes cheap.
Read: Brand Noise