Cofounder and CEO of WRKSHP, Che Pope. (Photo provided by Rock Ventures). WRKSHP cofounder and ... [+]
Che Pope, a multiplatinum producer and music executive, has partnered with billionaire entrepreneur and investor Dan Gilbert to launch a Detroit-based music services business dubbed WRKSHP, pronounced like “workshop.”
The company, which launches today, focuses on emerging artists. It has services similar to traditional record labels–such as music production, promotion, and publishing–but officials say it’s different in part by not taking full ownership of artist content and by providing infrastructure and resources for artist development.
“We're not looking for numbers; we're looking for great artists,” says Pope, who is cofounder and CEO of WRKSHP, referring to emerging artists’ streaming and social media statistics. “And then we're going back to the tradition of Motown. We're bringing back talent development, which doesn't really exist at a major level anymore.”
Pope described the company as a "music-based lifestyle company," and it’s based in Detroit's Capitol Park, in honor of the 63rd anniversary of Barry Gordy's founding of Motown Records. "Barry Gordy was really big on artist development, really growing them and working with really talented producers and songwriters to just make better music,” Pope says.
Cleveland Cavaliers majority-owner and Detroit native Dan Gilbert is a cofounder and has played a hands-on role in helping incubate WRKSHP, officials say. Pope is a Grammy award-winning record producer and songwriter who’s worked with Eminem, The Weeknd and Ye, formerly known as Kanye West.
Gilbert's Detroit Venture Partners led the initial investment round, along with co-leads Peter Boyce's Stellation Capital and KKFarm, a Taiwanese music technology firm. Other investors include Courtside Ventures, StockX COO Greg Schwartz and pro football player Ndamukong Suh, among others. WRKSHP declined to disclose the amount of the funding round.
Pope got plugged into Gilbert's network by building a rapport with the businessman over the years. The two met over dinner back in September 2018, where Gilbert asked Pope what he was interested in achieving as a music executive. That’s when Pope told him about his interest in starting the music services company.
"I told him about it. He loved the idea,” Pope says. “He asked me if I would be open to having an office in Detroit. I said, 'Not only would I be open to having an office in Detroit, but I would also prefer for my headquarters to be in Detroit.'"
WRKSHP generates revenue in part from its artist services, but doesn’t engage in “360 deals” or all-or-nothing contracts with artists. With WRKSHP contracts, officials say the artists own their content, but WRKSHP has royalty rights to artist content ranging between 10% to 50%, depending on the artist.
“The traditional model is one size fits all,” says Andrew Iaquinta, acting COO of WRKSHP and director of business development for Gilbert's Rock Ventures. He added that WRKSHP customizes contracts that allow them to own more of their intellectual property versus traditional industry contracts.
To make up for the difference, WRKSHP then finds other ancillary revenue streams, such as selling sponsorships and WRKSHP branded merchandise.
“That’s why we call ourselves a music-based lifestyle brand–we want people to help us support more artists,” Iaquinta says.
WRKSHP is still in the process of building its team. But, so far, it has tapped Emma Spencer as its creative director, Breann White as head of content.
