The Huffington Post’s Mike Ragogna sat down to talk with Gyroskope founder, Todd Smith, about all things Gyroskope. While they covered a wide range of topics, the interview started off by Smith telling the story of Gyroskope’s origin. Let’s ‘listen in,’ shall we?
Mike Ragogna: Todd, what is the origin of Gyroskope?
Todd Smith: My background is in the music business, first as an artist, then as a producer and indie label owner, so I basically lived through the transition, from the time when people paid for music to the time when music became free. I’m not down on free; free is great, but eventually, you hit a wall. If nobody ever replenishes the stream, eventually it will dry up. Artists and producers need to make money in order to do what they do, which is bring us music and art and stuff that makes the world a better place. So Gyroskope is a possible solution to the problem of what is the best way for independent content producers to monetize their work, given that the paradigm for digital content consumption has shifted from paid to free?
I think there is a feeling among music fans that, it’s okay to share these files because the artist isn’t going to see any of the money anyway. And you know what, they’re right. I think fans want to support the artists they love, and Gyroskope is built to facilitate that direct transactional relationship. I think there is a feeling among artists that, if I work my ass off and get a hit, why should the guy who owns the pipeline get most of the money? And you know what, they’re right too, and Gyroskope is built for that as well. Gyroskope gets the same small monthly fee no matter how much you sell.
MR: There has been a lot of emphasis in the initial phase on music, but how can others monetize their assets using Gyroskope?
TS: Gyroskope is for anybody that needs to sell a video. It might be a music video or your feature film, but it might also be a school play for a fundraiser. It might be a keynote speech at a conference or graduation. It might be a lecture or a virtual tour of an historic landmark. No matter what it is, we want to be the YouTube for independent content producers that need to not only distribute, but also sell their work.
MR: How do you compete with a YouTube that’s free or a Netflix that has an established value for their billing? In other words, why would someone use Gryoskope over other platforms?
TS: Content producers can’t sell their videos through YouTube, so in that sense, YouTube isn’t a competitor. Netflix is more of an aggregator or a middle-man, meaning it’s not really a platform that allows producers to have a direct transactional relationship with their audience. There are some other options, such as Amazon CreateSpace, which can take over half of the sale. In addition, we worked hard to create a high-end user experience for producer and fan. It’s more of a premium environment without ads. For all these reasons, we humbly believe that Gyroskope is the best option.