Following on from previous post here
Recorded Music Biz!
I chose the above title for this book because its got everything to do with the next generation music biz and a lot to do with music a long time ago. Somewhere in the middle up sprang the recorded music business that is now in decline. As a musician or performing artist I’m pretty sure you want to be rewarded for your creativity whatever form it takes, just as composers and performers were before the phonograph even arrived.
I want you to grasp the concept of YOU ‘Making Real Money’ as soon as possible, early on in your music career, even if it is a small pay day at first. Over time you can earn far more than you probably realise if you focus and present what you do in the right way. I want you to understand that this is a better way than entering the world of the loan business. What do I mean by this?
When musicians and bands got hooked up in the record business they entered the world of the loan business. Often without even realising what was going on. If you have ever had the privilege of entering a loan agreement you hopefully understand that it is on the terms primarily acceptable to those making the loan available to you. As with credit companies today their trick is to keep you the borrower in debt year in and year out so you are never really able to repay the debt but rather always paying back interest at some ridiculous level.
That is how the mainstream ‘traditional’ record business operated in the past and still operates today in many areas. From it’s very inception and down through the decades, right up until now. Amazingly you still get some misguided bands and artists working on a premise that goes something like this. Do what we do, get noticed, get signed to a record deal, get a fat advance (loan!) and off we go. The reasoning is, if we are massively successful, which of course you will be, you will pay off that advance and all will be well. Wrong, chances are you are going to be kept in debt by the record, no let’s call it ‘credit company’ long term.
Deal with the Devil!
So I’m anti record companies? No, not totally. What I am opposed to is starting from a position of weakness. Not really thinking about the end game before you hit the go button. There are artists today that have started out very organically they have been actively involved in Music DIY and grown their fan base, had a significant level of success and then decided to do a deal with the devil! No I’m joking. They have decided that there is a more workable deal to be done with a record company where perhaps they can have access to an international marketing and distribution arrangement that maybe they felt was impossible any other way and the deal is structured better financially for them.
So when I talk about how to earn real money from your music that is literally what I mean. Real money that you get in return for product or services rendered. Starting out with low cost, low overhead, a budget that you control and that can give you a bigger return on investment. Build you music business from this position successfully and you will not be disappointed about the financial rewards. In the future if things are really going great you step up and alter your game as required. If you need to do that deal and it can work for you financially it gets negotiated from a position of strength not weakness. Most importantly you will not need to enter the loan business, remember this is not about:
“How to Loan Money against Your Music and what it might earn in the Future”
It’s all about
“How to Make Real Money from Your Music”
In the Next Generation Music Biz
to be continued….. the above post is an excerpt from the forthcoming book: How To Make Real Money from Your Music by Kevin J Ryan
