The Importance of Artist Development in the Music Industry

Many record labels these days aren’t interested in developing recording artists and bands. Many simply want to work with an artist that has all of that taken care of. From websites, blogs and social media record labels are not interested in working to develop that side of the artist. Reason being is that record labels want to focus on pushing a product that requires little upfront costs in terms of building the structure that sells the artists in so many words or less. Record Labels are looking for a prepackaged deal that can be marketed to consumers and with little developmental effort what so ever.

What artists need to focus on is having someone develop them before taking an offer with a record label or seeking one. Reason being is because with out the necessary look and feel that artist are suppose to gives off to their audience, labels will offer less initial upfront money for recording projects. Touring helps with this because of the amount of exposure artists receive and the amount of record sales that tours generate over time. Developing your fan base is crucial to you getting the best deal with a record label. Thinking about getting signed to a label and getting a great deal means a great deal of artist development for recording artist and bands.

According to Artist House Music interview with Owen Husney who was Prince’s first manager stated that major labels lack Artist Development. He stated that in this type of market where record labels want artists with at least 5,000 albums sold Prince would have never been able to be signed by Owen Husney. He also states that record labels should invest in developing artist. For artist and bands seeking record deals and opportunities start to focus on touring and working on your songs that will get records sold on tours and develop your fan base.

360 Deals and the Recording Artist or Band

Many up and coming recording artist and bands look for the golden opportunity of getting signed to a record label one day. They have put in years of work and one day a representative from a record label calls them and states that they are interested in you and want to ether come to meet you or fly you out to their offices. The artist gets excited and takes them up on their offer. Now they are in the meeting and the label lets the artist know how talented they are and that they are going to make it in this industry. They also tell the artist that one of the ways they can go about having such success is signing the 360 deal. The question is do you sign or walk away?

Many independent artists have come across this decision once or twice in their career and many have chosen not to go through with it. According to Music Think Tank.com article on The Musicians Guide To The 360Deal it states that record labels stand to make a considerable amount of money on the artist. To break this number down according to entertainment lawyer Bob Donnelly in a Billboardbiz.com statement he states that some record labels that offer 360 deals have between 5% and 50% stake of sales outside of the initial revenue from album sales. That means revenue from movies, touring, etc. That’s why a deal like this is not wise for hip-hop and rap artist if they don’t have the proper endorsement deals making them a substantial amount of money on the side.

It is important also for recording artist to know that staying independent until getting the best deal is important. Touring locally and developing a strong presence in the industry is necessary for success before getting to the signing table. It is recommended to have an attorney present when signing any kind of deal to make sure you are getting the best deal possible.  Below are some helpful videos in making your decision to sign a 360 deal. Happy Signing!

Irv Gotti On Signing a Record Deal

http://www.youtube.com/watch?v=_xGyWU4LPEs

Entertainment Lawyer Kendall Minter On The 360 Deal

http://www.youtube.com/watch?v=6dJhsfjKgQ4

Recording Industry Association of America and You: Manager or Recording Artist

The Recording Industry Association of America is a valuable resource for managers and recording artist. This association provides statistical data that shows where the record industry is as a whole. On the website it gives people the opportunity to learn more about what is going on in the industry through the Music Notes blog and the RIAA newsroom. It also gives information about when records receive Gold or Platinum reviews. You can sign up for newsletters and get the latest information of the current happenings in the music industry. The website also provides a list of legal music services that consumers can use to listen to music with a wide variety of choices.

            The RIAA provides information on the performance of the industry. Students, artist managers and recording artists can review the Annual Consumer Profiles that the RIAA releases. These Consumer Profiles are very useful in determining what genres are performing well and what the market trends are within a particular genre. This is done through looking through 10 years of data and listing all 13 genres of music. The consumer profile compares against formats on which music is distributed for example CDs, DVD Audio etc.

            This can be useful for managers because they can keep a watchful eye on how there particular genre is performing in the industry. They can also find out what is really selling digital downloads or physical. Mangers can also find out what is affecting the sales of their particular artist meaning the trends in the age ranges of individuals who listen to their music. Through the consumer profile on the RIAA website it also measures the overall size of the U.S. Recording Industry. For recording artist this could be a useful website to see how their particular genre is trending and what market the music is most effective in.

The Hip-Hop Project 88.7 FM WLUW: Interview: City of Win

The Hip-Hop Project 88.7 FM WLUW: Interview: City of Win: Nearly 30 people, 6 mics. 20 track mixtape. 2 hours. An interview that left us feeling like we ran a marathon. Grab it here. #CityOfWin S…

Thaddeus E. Ray pictured upper right with Dave Coresh

Focus On The "Why" Inspiration From Simon Sinek

Simon Sinek explains on many levels how companies, community leaders, and innovators have accomplished their goals. In this TED conversation, he explains his theory on how these companies, community leaders, and innovators have inspired people to either believe in there products, there beliefs or their inventions. Sinek explains that there is a formula that explains what made these individuals stand out from the rest. He states that these people had competitors that had more resources and knowledge yet lacked one simple aspect. What they lacked was the inner workings of how these individuals thought. Sinek believes that they worked from the inside out instead of the outside in. He calls this the golden circle.

The inside out is the why, how and what and the outside in is What, How, Why. The Majority works with the outside in the golden circle concept. Sinek states that people buy why you do something. Getting people to believe in what you believe is what inspires people to pay attention to you and what you are about. He used many examples from how Martin Luther King got 250,000 people to come and listen to him speak on a hot August day and how the Wright Brothers took flight before a popular innovator who had connections, wealth and the press following him around.

For recording artist it is important to remember the why in your pursuit to becoming successful in the music industry. There are many artists who want to do the same thing you want to do, get people to listen and buy your music. You have to have the ability to inspire people and get them to believe in you. That’s the difference between a Justin Bieber and a Soulja Boy for long-term success. Becoming a superstar involves getting people to believe in the “Why” of your golden circle. For me and for all other managers it is important to focus on the why of your endeavors and strive to inspire others to become the best that they can be.

Considering an Artist Manager?

Artists have many things going on at once and it is important that these things get done. Having a manager around who knows what to do is essential to the future success of an artist. I recently interviewed an artist I am considering managing and asked him what he is looking for in an artist. He said that he is looking for someone that can be honest about the different stages of development and not someone that can tell them I can get you signed to this label in no time. Artists are looking for someone to confide in and talk about what is possible and what is not.

The first thing to do when coming to a point where now you have solid material and you are doing shows and things are getting busy is ask yourselves, do I really need to consider having a manager? About.com has an article that can answer the question Do I Need a Manager? It offers information about the kind of managers that would be beneficial to you depending on the current position you are in financially and how developed your music is. Finding a manager that has connections and knowledge about the industry is difficult but what the artist can do is get someone who they are friends with or is a fan of there music who wants to work in the music business.

That would be the most cost effective choice for an artist with limited funds. If you are really concerned about having a really good manager and have the funds to afford one The Lowry Agency has some great advice about What Makes an Good Artist Manager. This article discusses in detail the many attributes a good artist manager has in delivering the best service to their clients. Having management is important and a subject of an artist’s future that is vital for their success in the music industry.

How Can Recording Artist and Bands Fund Their Own Projects?

I am currently working with an artist now who is looking to fund a tour with his band. They performed in various venues and college campuses and have received funds for there performances. The big issue now is how can they raise money to go on a tour? It is daunting for an artist to have this on their minds and keep remaining creative in the process. While talking to this artist he stated his concern about having upfront money to start the tour.

You need money for transportation, which includes gas and rental fee of a vehicle if required.  This is where the management team comes in and brainstorms ideas for the artist. There are a variety of ways online that help artist fund their projects. The first one I would like to discuss is Kickstarter. This website gives people with a variety of projects from film, food, photography, publishing music etc. to setup an account where their team or fans can go and help them fund projects. This article on INC.com explains in detail on the best ways to get the most out of the Kickstarter website. This website could be very beneficial to an individual in the entertainment industry who wants to get start-up funding for a project. 

            The next project funding website is Indiegogo.  This website allows people from different industries to raise money, start a campaign and global exposure all at the same time. Talk about an online project manager that keeps getting results 24/7. This is a great way for bands and recording artist to create awareness about their projects and gain a fan base that supports the project. This blog on Indiegogo’s blog site gives great insight on 5 Ways to Use Indiegogo Beyond Crowdfunding. Happy project funding!