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Everything you need to know about today’s music business if you come back after a long break

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Everything you need to know about today's music business if you come back after a long break

Music business

Has it been a long time since the last time you released a new album? Much has changed in the music industry, and it continues to change very quickly. Read this article to see where to start.

Chris Robley

“I haven’t released an album in 15 years. What has changed?”

If you are asking this question, let me congratulate you on your return to the world of music; welcome to a whole new game. Limp Bizkit and Creek no longer fight (or make music). Will Smith has stopped adapting 70s disco hits. And most kids now think “Everlast” is a drum brand.

On the other hand, a few things will be familiar to you. Eminem is on the radio. Evil corporations run the infrastructures for large live events and ticket sales. Most of the music is made with combinations of the same 12 notes. And artists still create music for people to listen to.

Finally, the size of an artist’s audience (as always) depends on a certain combination of talent, charisma, intelligence, hard work, and luck. This part of the business should be familiar to you too.

But there are ten important things that HAVE changed in the music industry in the last fifteen years:

1. Monetization comes with experiences, not sales

A decade ago, the money in music still came from CD sales and editorial royalties.

Formats have changed, of course, and we’ve seen the dominant trend shift from CD sales to MP3 downloads to streaming (through services like YouTube and Spotify), but the heart of it is this: monetizing music is no longer about convincing a fan to buy something.

For many people, ownership is somewhat dated. Today the social aspect of music is interesting. Now you can make money when you let your fans do something WITH your music, like:

* share it with your friends on social networks

* add it to a Spotify playlist

* create a video on YouTube that uses one of your songs

* and more

The lesson: don’t be stingy with your music, let people have it, love it, share it, and use it.

2. The media are not monolithic

Years ago, it was really important that your music is written on Rolling Stone, SPIN, The Source, etc. These channels had a huge impact on how music fans responded to new artists and new releases. Today there are many more channels (online and off), dedicated to each niche and each genre: so you have more opportunities to get media coverage. This is the good side. The bad thing is that those reviews no longer have the weight they had.

Because there are endless brands and endless blogs that want to write about your music, any review, interview or story will not echo in the music industry or among a large community of fans in the same way as 15 years ago. Even big online magazines like Pitchfork don’t have a magic wand: many bands they’ve praised have had little success in visible results (in terms of sustainability), while artists they’ve smashed have done pretty well.

The lesson: The music press is more diverse and its power is more diluted.

3.”Radio” can mean something completely different

Turn on your car radio and, yes, music still comes out of the speakers. But conventional, terrestrial (over the air) radio is no longer the only option for fans who want to discover new music programs. The most innovative and exciting music in almost any genre is playing elsewhere: satellite radio, online stations, personalized services like Pandora, podcasts, and so on.

To have a significant presence on mainstream radio as a freelance artist you would need a miracle, many tens of thousands of dollars, the right radio promoter, and yet another miracle. In contrast, not only is it possible for your music to reach radio stations and universities, as well as satellite and online radio, it is quite easy to do! But as in what he said about the media, playing on the radio on any of these channels will not be as powerful as a successful campaign on commercial radio.

The Lesson: You probably won’t be the new Katy Perry without the help of a great label, but, unlike 15 years ago, you CAN sound pretty and get a fan base thanks to non-commercial radio.

4. Stamps are the last resort

15 years ago, almost all the bands that were serious about reaching a large audience sought, and even needed (unless you were Fugazi) a contract with a major record label. Now, most bands understand that you can really do better financially by staying independent, owning the masters of your recordings, maintaining your editorial rights, and determining the course of your own career.

Clever indie artists like Macklemore and Ryan Lewis have been able to build professional teams around them for distribution, advertising, hiring, and more, all without having to sign a traditional contract with a large company. Today, the artist IS the seal.

The lesson: Being your own label is hard work, but you collect all the rewards.

5. Email is more important than social media.

If you were making music 15 years ago, you may have had some experience making a list of your fans’ email addresses. But you have missed (at least on the business side of things) the rise and fall of Myspace, as well as the rise and fall of interest in Facebook as a music marketing tool. Both examples demonstrate that social media trends come and go, internet habits change, but email remains. That’s why creating your email list should be your # 1 marketing priority. And one of the best places to start creating your email list is your own website, a place where YOU control the user experience.

The Lesson: The relationship between you and your fans should be owned… exclusively by you and your fans, NOT someone in Silicon Valley.

6. Your fans can help you finance your recordings, videos, and tours

… and I’m not just talking about buying your products, tickets, etc.

Platforms like Kickstarter, PledgeMusic, RocketHub, and IndieGoGo now allow artists to get funding for their projects more easily. Here’s the idea: Many fans make small donations that add up to a significant amount of money. Sounds like some make-up way of begging? Think again Crowdfunding (particularly when it comes to financing record projects) is basically a pre-purchase process in which your fans, friends, and family have the opportunity to buy your music in advance. They can also show their support, experience the satisfaction of helping you take your music to the world, AND receive interesting things in return.

The lesson: You don’t have to owe anything to a label (get your advance, support for the tour, and recording budget) to get your music out to the public. Now your fans can help you pay the bill – and the copyright remains yours.

7. Records are being made on computers that sound as good as studio records from the 1960s.

Technology! You no longer need a large room, state-of-the-art effects racks, and a $ 5,000 mic to create magical recordings. Certainly, nothing replaces the ears and experience of a good sound engineer, but now digital tools are affordable and at your fingertips to help you develop those technical and production skills yourself. Sometimes everything you need can even fit on an iPad, so you don’t need to pay rent for a huge studio, either.

The lesson: Home production still demands a good ear, but if you’re willing to work it out for yourself, you can record an album on your own that sounds as good as anything you’ve heard on the radio (except maybe a few classic ’70s albums, they will never be surpassed in terms of sound quality by anyone, anywhere, ever;)

8. You can get your music to be used in movies, TV shows, commercials, and video games

15 years ago, it was nothing short of unheard of for large film, TV, or video game producers to use independent music in their projects. Now it is the norm. Synchronization licenses have become one of the best ways, for independent artists, to earn money, followers, and credibility. The flip side of this, as with all new opportunities, is that EVERYONE is trying to do it, so you have a lot of competitors. And when they offer is high, the amount you charge for each appearance is usually lower because there are a million artists who would like to get that opportunity to be heard. In any case, in the case of television, you choose to earn more money in the form of royalties every time a program that uses your music is broadcast.

Another thing to keep in mind with timing is that it doesn’t matter what year your music is from. Unlike the radio, where DJs prefer the latest or greatest hits ever, music supervisors who choose songs for movies or TV don’t care about how old the music is (not even if it was released commercially at the time) They are only concerned that the song is suitable for a certain scene.

The lesson: Your entire record catalog can earn sync revenue, so it’s a good idea to have ALL your music in one sync license catalog.

9.YouTube could be the most important thing in your music career

YouTube has become the # 1 music search engine. It is also the favorite listening platform for younger music fans. In addition, YouTube videos are very easy to share on social networks. As someone who has been away for a while, you will be interested in having all your songs on YouTube; otherwise, you will be missing out on another chance to make money from your music (in the form of YouTube ad revenue). You don’t need to make a dozen fancy video clips, but you should think of, at the very least, uploading a few album cover videos for all songs.

The lesson: CD Baby has paid well over $ 1 million in YouTube ad revenue to independent artists (some artists earn up to $ 40,000); You should also be making money with YouTube.

10. For today’s artists, many sources of income form a river.

As I said before, monetization is increasingly related to experiences, and social music sites like Spotify and YouTube are making it easy for your fans to share your music. The more your music is shared, the more money you will earn.

That said, there are still millions of people on the planet who prefer to buy CDs, and many millions more who prefer vinyl (yes, vinyl, it’s back), so obviously you’re interested in continuing to offer your music in physical formats, especially if you have remnants of Stock from the last time you pressed vinyl years ago. In addition to digital and streaming music sales revenue, you should collect your global editorial royalties (including mechanical royalties), try to sync your songs, go on tour, use crowdfunding, and look for sponsorship and endorsement opportunities with related marks.

The lesson: to quote an investor cliche, “Diversify!” As a freelance artist, you will have MORE opportunities today than ever before to earn money from your music. But there is no single path to success; There is no one way to finance your career. You need to take advantage of every possible source of income. Together, they can become something big.

BUSINESS

Black Insure a personal finance company founded by Michael Aremu & George Oni

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Black Insure a personal finance company founded by Michael Aremu & George Oni

Founded by Michael Aremu & George Oni in October 2020, Black Insure is a personal finance company that serves as a digital matchmaker to underserved communities. 

A core problem within the communities they serve was a Lack of knowledge regarding finance & finance related products, low trust between minority communities and financial instituitons due to historical financial discrimination among minority communities.

“After experiencing the disparity and limited inclusion of people of color within the financial system, we knew that something had to change and that is why we started Black Insure to build better bridges. By educating, leveraging technology, people and partnerships, we hope to create a better society where finance is open to everybody and it is our life’s mission to accomplish that.” As said by the founders.

Black Insure has built a free and easy to use platform that provides  7 financial pillars of services which include: Insurance, Loans, Credit cards, Debt Solutions, Business, Banking & Investing. They  tailor-make content & services in these various pillars that are specifically made and targeted to our target demographic. They  also put a twist on it to make it fun & relatable.

They have built some notable partners with big financial institutions in America from Insurance companies to Lenders, debt solution providers, brokerages and much more. 

Their 3 main pillars are Insurance, Loans & Debt Solutions :

  • Growing demand for various Insurance products within the community
  • Lack of awareness of loan products that majority of households qualify for
  • The black median household debt is $30,800. Only 40% of these families have good credit leaving 60% with fewer options of acquiring debt for growth such as homeownership, starting/growing a business

Black Insure is mission-driven and focused on bridging the financial wealth gap and financial disparity in America.

To learn more about Black Insure, check out their platform

https://www.blackinsure.com/

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BUSINESS

Magento Development – Best Way to Develop and Design Your Online Store

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Magento Development - Best Way to Develop and Design Your Online Store

Magento is one of the most significant websites available on the internet. This website is famous for offering the best and the most common customization options to users. Nowadays, Magento has become the most efficient and popular e-commerce market in the world. A person must know about Magento Webshop.

There are several benefits that you can have by using Magento. Magento has helped a lot of people in building, designing, and developing their online stores. Some of the most prominent features and benefits of using Magento for development are as follows.

1.      Powerful and efficient platform

The first and the most significant benefit of using Magento for developing and designing websites is that this is one of the biggest and strongest platforms. This is a powerful platform that can meet all your needs and requirements of starting an online business. So, if you are using Magento for store development, you do not need to worry about its performance and efficiency. 

2.      SEO friendly website

The second most prominent benefit of using Magento for business development is that Magento is SEO-friendly. This website was built by keeping SEO in mind. This website generates SEO-friendly options and URLs. 

3.      Fast loading website

One of the most important benefits of Magento 2 is that it is a website having great speed. The world is full of users, and Magento 2 is famous for having a matchless loading speed. According to Google statistics, the majority of the users do not use those websites that take more than 3 seconds to load. Magento is often used as it has a great loading speed.

4.      Flexible and better content management

One of the most important factors and benefits of Magento and Magento 2 shows that Magento is one of the most flexible websites. Magento allows the most customizable options to the customers. Magneto has an efficient, intuitive page editor. 

5.      Highly customized website

Another prominent point that can show that Magento Development can be beneficial for you is that it offers customized options for the people. People can have the right chances and categories to improve things. Everything is customizable on Magento Development. You need to develop a highly developed and customized store that is equally coded from the start. The platform should also offer several options for payment methods, shipment options, and different languages for better ease of customers. Magento has proved to be the most functional platform.

6.      Better reporting 

Last but not least significant thing that can show Magento development is a great way that helps in designing and developing the online store is that they offer advanced reporting. Countless high-end reporting features offer almost 20 reports in the web interface. The major insights of the business, such as custom products, services, and orders, are given a reporting feature. 

The final words

These are some of the most significant points that show the benefits of Magento Development. These points show that Magento Development is the best way to design and develop your online store. 

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BUSINESS

Unsurpassed Decentralized Exchange Software

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Unsurpassed Decentralized Exchange Software

In the world of cryptocurrency business there are many types of decentralized software are available. Out of which we have certain best type of decentralized exchange software scripts are mostly preferred by many cryptopreneur or developers or agents of this type or an expert in order to market their business to the world of cryptocurrency and attain the best or attracted the best potential customer to purchase the cryptopreneur’s coin for the great deal of income as a revenue point of view as well. Let’s see about some of the unsurpassed decentralized exchanges who creates the decentralized exchange software for the NFT cryptopreneur for their business in order to support them on how to create, secure, suggestion on how make the best revenue among many competitors available in the NFT marketplaces.

These are the list of decentralized exchanges creating the decentralized exchange software for the cryptopreneur for their business. 1inch network, VoltSwap Meter, Phantom, Zerion, Zapper.fi, pancakeswap, Bisq, coin98 finance, Loopering, parawsap, balancer labs, fulcrum, totle, bancor, tokenlon, mStable, demex, DMEX, stellarX, SWFT, Dogeswap, NFTX, bogged finance, augur, smartDEX. These are the exchanges will function as a great support on creating the decentralized exchanges software for many cryptopreneurs or business magnates for their NFT business as per their requirements. Moreover, the services of the decentralized exchanges of created decentralized exchange software continuously keep a close watch over daily business progression as it has a robust admin panel and user dashboard which would help the users in better regulation.

While creating the decentralized exchange software script by the decentralized exchanges, the experts in the development team must also have to focus on trading engine, atomic swaps, order book, user interface, payment instruments, internal messenger, Admin panel, liquidity, customer support channel and so on in addition to the general supports while deployment of the software to the valuable customers. Due to this invaluable features and services of this type of decentralized exchange software company it becomes more advance level compared to the different competitors available in the marketplaces based on the new requirements of the customers day by day in different regions from different level of expectations as well. Which means that as the business needs increases the option of exchanges of currency of coin based on which the development of decentralized exchange software process also will depend on it and so on.

Since, the authentication process differs from one site to the other sites as it is a one-time key for entry will be generated, which would be valid for a certain period, after some time it will be expired. Due to this reason, the most of the cryptopreneurs will prefer to have this type of decentralized exchange software as it is more secure way of transaction and will expire if any transaction gets delayed for certain period and it could protect invalid transaction and safeguard the business magnates in all the way. So, once the decentralized exchange software script is ready the businesspeople / experts should be very cautious on its authentication process and its exchange process.

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