You are now entering my thoughts and opinions on various
topics surrounding the music industry.
With a strong focus on urban music and hip-hop, there will be no
limitations of genres. While I do enjoy
new and good music, my personal interest is the business aspect. The blogs will be informational; the goal is
to give insight on how to be successful in the music business. I will first begin to explain the benefits of
starting an indie record label and its process.
While attending the Revolt Music Conference, I
was able to get some insight from large corporations along with indie
executives. The biggest problem that we
have now is monetizing music. We live in
a time where we can access music the second it comes out at no price at all. This sets independent labels back even
further. Indie labels are usually
limited on funds, which means many sacrifices.
The artist has to understand that they play a huge role in the profits
the label receives. Usually, there is no
upfront money; if there is, it is usually less than 10k. The artist must
consider promotion and miscellaneous things when deciding to take advance
money. The less they take upfront, the
more that is invested in their career.
At independent labels, artists are very involved with the structure of
their contracts. Some are able to get 50/50 deals if done
right. Indies usually have a personal
relationship with the artists because of the size. I feel that starting your career with someone
you trust and have a relationship with is helpful for a new artist. Not only are you able to understand the
business but you also are more entitled to your work.
As an executive, to be independent can be very
discouraging. The record
sales only account for 30% and you usually use your own money to start the
company. You have to distribute and
promote your artists with no help from the bigger companies. Along with money, executives usually play
multiple roles in the success of the company. One day, you may be an artist manager, the
next you could be an accountant. You
have to be well rounded, if your looking to build the label, you may even be an
A&R agent during the process. If you
are still reading, there are benefits.
With the easy access to the world through social media, advertising
costs can be cheaper initially. It only
takes one hit song to break into the industry.
Do not expect success right away, but know that there is a possibility
for instant success.
There are many benefits with being independent, but it can
be a very stressful process. In order to
choose your path you have to understand what you are looking to get out of your
career. It starts with a plan, write
down your goals and begin to take the route that follows your vision!
