Understand the music business is not candy land. Now I'm not saying this to instill fear in you in anyway but for those that want to get a better understanding of the inner workings of the music industry from somebody with first hand knowledge here is some insight. The music industry has been notorious time immemorial for its reputation of lack of professionalism, criminal behavior, deception and thievery. I remember being at award shows and watching your favorite artist on the stage screaming to the top of there lungs pleading with other artist and entertainers just to sit down in there seats just so the show would stop. I've watched people you love and adore that have been in major big screen movies get walked over like doormats. Storys about rappers getting extorted, jewlery being stolen, promoters not compensating artist and people being robbed all because they didn't know how to carry themselves.
No how to move in a room full of vultures industry shady it need to be taking over - Jay-Z
I believe the people that do become the most successful within the music industry is those who know how to type rope the line of streets smart and book smarts and that is what this blog is about. The key to becoming financially successful in the music industry is by the exploitation of sound recordings and music artist. Look terminology that is used "exploitation" which should give you a hint of what type of business you are dealing with. My advice to you is to always keep in mind that this is the music business". It is about monetary gain and how can we accumulate as much commercial dollars as possible. There are a multitude of different people who play a major part in the workings of an artist. You have the creatives: which is like recording artist, songwriters, vocalist, producers etc. Then you have business: Which is major companies, subsidiaries, independent record labels, distributors, and marketing. Than you have professional support entertainment attorneys, personal managers booking agents, business managers, accountants etc. Lastly you have performance which features radio, film, television, cable, concert, and internet.
The business can be extremely risky business(especially when you are dealing with majors).You have to realize alot of the music artist that you love monies are being disseminated amongst industry professionals. I'm talking about the same people I spoke about in the prior paragraph. The good news is the music industry thrives off of newness. New talent, new energy, new ideas, new trends, new labels and new waves. Unfortunately to bring anything to situation to fruition takes some type of financial backing(which there are ways to get around that which I will speak about in future post). See most creatives have loads of talent and low finances which makes them pray for major record labels. Between antiquated accounting practices and inaccurate royalty statements has become an issue. Employment is sometime scarce of value so because the money can be inadequate people go towards more deceptive tactics for financial gain.
Now this is just an brief overview the bright side about all of this is you know me. I will help you navigate through all the vultures. You just have to always keep in mind that this is a business!
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