Many musicians don’t pay enough attention to the business aspect of their career and as a result end up broke, in bankruptcy court and/or in bad deals. It is very important for a musician to take an aggressive look and active role in learning the day-to-day business of their music career.
The truth is that the music business aspect of your career is where you will need to spend the majority of your time if you want to have a successful and sustained music career in the music industry.
The most important thing you can do is to watch the bottom line and cover your bases by protecting your music. The music industry roads are littered with musician road kill. Artists who hit the “big time” but were barely living above poverty level.
A few months ago, I watched an interview with a well-known music star on a music legends show. He stated that at the beginning of his career, everything was great. He sold millions of CDs, sold out shows, and was constantly working year round, but ultimately he lost more than he ever received.
How could he have sold millions of CDs without becoming filthy rich? The explanation for how he lost money is he didn’t pay close attention to the contracts he signed and who was doing what with his money. Having shrewd business acumen is crucial to your musical success.
A good way to learn how to avoid busting your music career is to watch the financial comings and goings of others who are successful in the music or entertainment business, then model your business actions after theirs.
Oprah Winfrey, Madonna, Britney Spears, Jerry Seinfeld, Dolly Parton and Mariah Carey are a few great examples of the bottom line. While you may not like one or the other, the facts are proof: They have made bank, millions of times over, and they still have that bank.
Recently I spoke with a friend Thom King of Multimediary Entertainment Marketing about artists learning the music business and the importance of knowledge. Thom has been a top executive at Clear Channel Radio as well as the head of major music industry corporations. This is what he had to say,
“There is a reason they call it this music business, because it is just that, a business. In addition, as with any business, it is critical to define each member’s roles as well as the ownership of the intellectual property you are creating. You are building a business as much as you’re building a band, and if you approach it that way you will be ensuring your success for years to come.”
please ‘like’ me on facebook: www.facebook.com
Question by jase: music business?
well i would really like to pursue a career in the business side of the music industry what kind of degree would help me?
thanks
also what kind of major/minor would help?
Best answer:
Answer by Pharmacy_Advisor
Business specifically management, finance or international studies. However, if you really want to make it, get your name out there. Try to get an intern job with a music company such as BMG, Death Row Records or whatever. Don;t be shy! Try writing a letter to Russell Simmons. You never know if he says YES!
Give your answer to this question below!
@waftv Defiantly buying the album when I have money
@waftv yo ur give albums a chance song is FUCKING awesome
I really don’t know what to say, the mainstream music world at the moment is so eerily quiet and a wash with awful music, the indie scene is also very quiet and undergoing a transition. ITs a strange period in music when it comes to discovering fresh talent, it seems the only true way is to look yourself, but where? i think the way exciting music is showcased needs to be completely revamped.
What is this show??
You what really bothers me is that whenever someone criticizes modern you get looked at as being angry bitter reactionary people, where in reality the reasons why we’re so critical of modern music is because we real music lovers who cares about the art of M.U.S.I.C (making up something interesting and complementary).
@PeterParkerisded Not just in music but every aspect of pop culture is geared towards women
@8XUX8 I was thinking the exact same thing. I miss the times where people just made the music. As much as I love the 90′s that’s around the time where gangters were being marketed and everything became extra flashy and cheesy but people didn’t really realize until now. Each generation had it’s popular or pop music but now people are getting fed up. There are a few artists where you can blatanly see some artists being held back from their full potential. That’s so sad.
BRAINWASH
that was tommy liberto yes? well what he said was so damn true. Be like Johnny Cash and sell your music out from your vehicle/home or wherever. poeple so bad want to sign with a record…only to realize the terrible negatives it brings with it.
@concretespecial it’s them keeping those labels and generics alive;if they’ll just ignore the radio and the mass media’s recommendations;thus the resources fade out and they need to close down the buisness.Piracy has it’s role in this;indie labels are dieing day by day and the only way to compete with the surface product is to get rid of those torrent sites and programs
@concretespecial I hear you;not only rock has been seriously damaged by this operation but also the metal scene is suffering traumtically,for instance by exporting such junk like Slipknot,BFMV,Bring me to horizon,it’s those group’s fault as well because they try to do 2 things in one blow;sell in intention of getting rich and be wicked in the same time;it just doesn’t work like that;the artist needs devotion i order to recieve respect and appreciation and the community needs to be independent
and constructive evolution (a.k.a Nightclubs,Flashlights,Porn etc) that’s what’s happening today if we unwillingly blend into the deep society.A major problem is that we stopped thinking by ourselves.Since these socalled trends came in,everybody acts like monkey see monkey do.Everyone was considering the “founders” some sort of gods bringing in the ultimate form of a joy life.I hope I made myself clear.good music still exists but it’s getting even harder to find it;we need to struggle more
I think behind this whole mascarade that’s going on with the music and it’s promoters lately are the specific handlers participating in the NWO’s camuflated strategies to conquer and control peaple’s mind without giving out what the true taste of it really represents;or rather better said they use this socalled shock value technique to lure us into their ambush by hymnotizeing us and inducing within,the feeling of this I call it artificial mechanized beauty beeing the ideal conclusive and
@RamonesSkater4life or Materialistic Televison haha…
LOL 28 people that have seen this video probably work for records labels
@YoungKnoccOut ….They make…good music? HAHAHAHAHAHAHAHAHAHA!!!!!
1996 was MTV’s last good year to me.
RIP MTV
They should change the name to RSBS (Reality Show BullShit)
@PeterParkerisded is not just woman its men too, they run around “rapping” lil wayne and eminem talking about how there the best rapper alive.
@waftv Thanks for that. I dig it, specifically “Alice, The Waitress”.
Quirky and charming.
at the start and 6:07-7:44 so damn true.
i blame women. After the backstreet boys made it big everyones trying to manipulate women. Women are the ones singing along to the radio not men. men hate pop music. Its women guys im tellin you.
I learned a good lesson today :] fuck the radio, and im better offf searching for music myself (thinking outside the box)
Love Zappa’s perspective. As everyone panics about where things are going, no one’s looking back to see what we might be able to learn from history. There are a few good clips on this blog also about the future of the idustry from heavy hitters like Jimmy Iovine, Walter Yetnikoff and a few other guys I don’t really know. Worth checking out tho. takecarepinkelephant*com
Love Zappa’s perspective. As everyone panics about where things are going, no one’s looking back to see what we might be able to learn from history. There are a few good clips on this blog also about the future of the idustry from heavy hitters like Jimmy Iovine, Walter Yetnikoff and a few other guys I don’t really know. Worth checking out tho. takecarepinkelephant*com
why is it all about being hot and sexy? whatever happened to just looking at the talent of the individual? whatever happend to originality? And whats with this pop “club” beat? i’d rather listen to the beat of the drums. I prefer listening to music with actual music instruments (whatever instrument it may be) as opposed to computer/technology making the beat and the music. It focuses too much on young people but luckily I’m one of the very few youngsters that listen to old (real) music.