The music industry is a multi-billion dollar industry. Many people earn millions of dollars from the industry and they are not even artists. The music industry generally has many facets that work together to make it successful, and this provides multiple opportunities for anyone to key in and make money from the industry.
All over the world, musicians are seen as ‘soul providers’, this is because of the soothing and entertaining effect the music being churned out by these folks give. It is for this reason that they are also known as celebrities. And you sure might agree with me that they deserve to be celebrated indeed.
For people who have been wondering how they can tap into the multi billion dollar industry and make some money, this article will first discuss how the music industry works; and also multiple opportunities available to make money from the industry.
How the Music Industry Works
a. Artist Sign-in-: A Musical artist cannot succeed alone in the music industry; he or she needs a Record Label or a Music management company to sign him into the company. The Record label becomes the artist’s career managers and works with the artist to achieve a successful musical career.
Note that these subsidiary or independent Record Labels are controlled by these Corporate Music management companies. For example, Sony Music Entertainment (SME), Universal Music Group and Warner Music Group (WMG). Though many upcoming artists now bypass Record labels; they independently produce their songs and upload it to the internet and make sales.
b. Recording and Production-: The Record label takes over from here to ensure that the artist works with good producers to produce either a Single or an album. Album production takes a longer time and may include production of music videos.
c. Release Song-: The next stage after production is to release the song to the general public. If it is an album release, you may have to put together an album launch. Much awareness has to be made even before the song is released to get the public eager to buy the sound. Even after the release, the song is promoted to get the needed attention. The Record Label sends the song to DJ’s all across the State and Country, he can also send it to radio DJs. Finally a music video is produced for the music to send the song to Television channels across the country. The independent record label can sublet the promo job to Companies like Live Nation.
d. Distribution-: After much promo has been done for the song, there will be demand for the copy of the song; either the hard copy or the digital copy. The physical production involves burning the song to CD. The Record Label also takes care of the CD production and distribution to various musical stores and Outlets like the Best Buy and Wal-mart stores. The digital copy is gotten online; either through the artist’s website or other music platforms; like www.ebay.com, www.amazon.com and www.itunes.com ; these music sites pays up to 70% as royalty for each copy downloaded.
e. Booking for Live Performance-: A lot of Show organisers usually invite popular artists to entertain the crowd. If the artist is lucky or rather depending on the popularity the promotion of his songs gets him, he can start getting invitations for live performance on shows. The Record Label also takes care of Show booking and handles the travel logistic needs of the artist. The artist can also organise a tour once in a while for live performance in difference States.
f. Endorsement-: Companies and organizations start bringing endorsement and advertisement deals for the artist.
This is a nut shell of how the music industry works and each step is organized by different people that utilize the opportunity to earn money. I will mention different opportunities available to get into the music industry.
7 Ways to Get into the Music Industry
I. As an Artist-: The artist is the owner of the song; and he or she makes money from royalties paid from sales of his music or endorsement deals.
II. Record Label-: Record labels make money by signing up artists, and helping them develop a successful career. Record Labels earn 15% to 25% of what the artist makes.
III. Production and Recording-: Many people are usually involved in the recording and production stage, you can earn money by keying into any of the roles;
- Song writers-: These are the original writers of the song. If you are good at writing songs, you can write and sell it to artists for good money.
- Composers-: These are people that compose the song and sounds before the producer works on it. If you are good on putting basic sounds together, this may be an opportunity to make good money.
- Producers and Sound Engineers-: These people are involved in the actual production process of the song; they work with softwares and sound hardwares to produce professional beats for the song, after which the artist does the voicing.
- Vocalist or Backup Singers-: Backup singers input additional sound tone to the song in production. If you have undergone voice training and can key into any tone needed; you can also make money as a backup singer.
- Voice Trainer-: Works with the artist to train his voice to a professional tone. Voice trainers are paid well for their services.
IV. Music Software and Hardware-: Producers and independent artists make use of softwares and hardwares for music production. If you can produce music production software like FLStudio, you can also make huge money from the industry.
V. Promoters-: If you are good at promoting songs and albums, you can also make money as an independent promoter. You either get paid commission for each copy you sell or you get paid upfront by the Artist or Record label for the promo job.
VI. Entertainment Lawyers-: People from other professions can also make money from the music industry, for instance Lawyers. If you are in the law professional, you can consider a career as an entertainment lawyer; you work with the artist to go through endorsement deals, licensing and you file a matter for any breach of contract or piracy.
VII. Digital Distribution platforms-: You can either make money as an affiliate of a top digital site like www.itunes.com and www.amazon.com or you can start your own online platform where you can sell people’s songs to make money. Remember to collect express permission from the song owner before embarking on this.
How to Make It Big in the Music Industry
The music industry in various parts of the world are being saturated everyday as there are a myriad of people who have got talents in the music field and they aren’t relenting in making themselves known by selling what they have got. Whilst, we may go on and on about the newbies who troop into the industry on a daily basis, we must not forget about those who are still nursing the ambition and hoping that someday they would be big stars. Therefore, the question is; how can one make it in the music industry?
If you are amongst those who are looking to become a household name in the music industry, be told that this might not be an easy task at all. As you already know by now that Rome wasn’t built in day. However, this is not to say that it is impossibility. Here are top tips that you might perhaps want to take a cue from in this read.
1. Be Super Talented
This is the most important factor to put into consideration as far as I am concerned. This is because without you being talented, you just might not make a lot of headway. However, be reminded that much more than being merely talented, you must have an undeniable talent that is so glaring to all; such a one that cannot be resisted.
You do not want to come across as a musician who is accepted by some and rejected by a major others. For this reason, be sure that you are so talented that you couldn’t possibly be rejected. It this isn’t clear, and then this example might help you grasp the explanation more. Look around you to see if there are musicians whose albums aren’t worth being bought or make the charts. If you just did, then chances are that you do not want to come across to people as underserving.
2. You must be burning with passion
There are some musicians who care less about passion, but are more interested in the money making aspect. Truth is that there isn’t a crime in this type of thing. However, it is extremely needful that you are motivated and driven from within. When this is your case you would find out that you would be receiving inner inspirations that would help your albums become a hit.
You might be one of the most talented musicians in town; however, if you lack an inner drive to promote your music career, as well as churn out unique songs, then you might just run into a hitch in your music career. Therefore, you must be itching to build this inner drive by sacrificing your timer and resources to get really good at what you do.
3. Robust Marketing Knowledge
It isn’t enough that you have a huge and undeniable talent, deep drive and motivation without having a robust knowledge. When you lack the marketing knowledge, then you expose yourself to being cut short early in your music career. This is why you are expected to really be equipped with plenty of information about your marketing. Whilst, this knowledge might not come to you naturally without hard work, but you need to really dig up facts and information that would help you as you journey.
Be friends with the internet, as you would be amazed at the type of information you may be able to get about marketing your music. There are also books that can help you pull this off. Be sure to ask questions and stay vigilant as you seek to know more.
4. Stay Optimistic
No one embarks on the music career journey and have negative mindset. You have got to believe in yourself and hope only for the good things. The moment you begin to nurse some negative vibes around you, you attract the negative things. For instance; negative vibes about being rejected, not making it, no having your albums sold and what have you.
Rule of thumb here is that you must always stay positive. A positive minded musician is one who is positive minded that he or she would hit success pretty soon.
5. Do Not Do Free Shows
It is okay that you want to do free shows for a charitable cause, however it might not just be a good idea for you to do free shows all the time. This is because the growth and exposure you need might not come along when you do free shows. Once you are talented and have the deep drive, in addition to knowing how to market your business, then you would definitely land big clients who would sign you up for a great deal of fee.
You must therefore know that free shows, when not for a charitable cause might just be out of place. Bottom line is that you go all out to look for clients who can pay you because once your are well worth, your career soars.
Remember, that these tips have got to be built all together. None can work in isolation of the other. They all work hand in hand. Therefore, you use be willing to build on this to make it in the music industry.