While there’s no doubt that Linkin Park remain a lucrative venture, the band themselves aim to keep it that way, despite a decline of revenue in the music industry. Having consulted with staff at Harvard, the group have restructured the ancillary functions of the band to an in-house collective dubbed Machine Shop, which includes management, marketing and a more recent business endeavor, venture capitalism. To that end the group have launched Machine Shop Ventures, of which Machine Shop executive vice president Kiel Berry, told Harvard Business Review:
“In mid-May, we launched Machine Shop Ventures, our venture capital firm, which will focus on investing in early-to-growth-stage consumer-focused companies that align with the band’s ethos of connecting people and innovation through tech and design. We want to share with our portfolio companies what we know about maintaining a brand in the cultural zeitgeist; we look forward to learning from them about internal company culture, vision, and creating new business. So far we’ve invested in Lyft, Shyp, Robinhood, and Blue Bottle Coffee to name a few.”
More on the bands outlook on revenue diversification and forward looking strategies can be found over at hbr.og.
