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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

STEP BY STEP GUIDE FOR MILLENNIALS TO BUY FIRST RENTAL PROPERTY From Ligon Brothers

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Ligon Brothers

As a millennial, have you ever thought about investing in rental property but don’t have a clue from where to take a start? If the answer to this question is yes, then don’t worry the Ligon Brothers will guide you to buy your first rental property. The Ligon Brothers, Michael, and David Ligon are seasoned Real Estate Investors and own one of South Florida’s most profitable real estate investment firms.

The Ligon Brothers provide a step by step guide for millennials to buy their first rental property. This guide is about how to prepare and save up for the first rental investment.

The first step is to establish your spending and saving habits. If you want to become a rental investor, you should know how to manage your money. If you embody a frugal lifestyle, it will be easy for you to afford your first rental property. Take a start by tracking your budget, and watching your spending.

The next step is to discuss your investment ideas with your family/spouse. To discuss rental investing, start by having budgeting meetings with your partner. You should teach your children and family members about money and spending. You can also discuss your retirement goals with your partner.

Once you decide to invest, the next step is to understand your current financial situation. It is crucial to know about your net worth so that you can plan accordingly. If you do it right, you will be able to watch your spending, learn about your cash flow, and prepare for your financial journey.

The fourth step is to get rid of your debt first. You should consider how much debt will be added when you begin investing in rental properties. If you already have debts to pay, you can minimize future stress by paying off your small debts. To reduce debt, you can use either a debt snowball method or the debt avalanche method.

The next step is to tackle your student loans. As a millennial, you may have student loans to pay. Before investing in rental properties, you should establish a plan to get rid of your student loans. If you plan well, you can even pay off your loans from rental properties.

The sixth step is to understand the market. You should learn important topics about rental investing. To learn about rental investing start attending open houses. You can also find a realtor in the open houses. Once you learn about rental investing, you will look at a home-like an inspector.

Ligon Brothers

The last step is to research and learn to become a successful rental investor. Learning will increase your chances to buy perfect properties, make good financial decisions, and build your wealth. You can educate yourself through books, podcasts, and taking courses.

The above-mentioned guide by the Ligon Brothers is a pathway for millennials to start rental investment. A millennial must follow these steps to succeed in becoming a successful rental investor.

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BUSINESS

Top 5 Benefits of Digital Advertising for Small Businesses

Umar Nisar

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Top 5 Benefits of Digital Advertising for Small Businesses

Digital campaigns can be a boon if you want to boost up your visibility and drive sales of your brand. There’s a large number of audience online that small businesses can tap into. For that, your need to align your online marketing campaign with your goals.

All the small businesses start with a single goal in the mind, i.e. growth. To make more and more people aware of their brand and increase their sales. And with the right online advertising strategy, you can set your business to a completely new level of growth.

In this article, we will look at the top 5 benefits of digital advertising for small businesses that include these campaigns in their marketing strategy.

1. Cost-effective

Digital advertising is really cost-effective, especially when compared to its alternate counterpart, traditional or offline advertising. For small businesses, budget is a big factor when it comes to marketing their products or services. Since they are on a limited budget, they need to be more careful about where they are going to spend their money.

Hire a professional graphic designer if you want your ads to look cool and branded. If you want to go on an extra mile, you should consider hiring Dignitas Digital, a full-service digital agency in Philadelphia, to help you with your digital advertising campaigns.

2. Highly Targeted

With digital advertising, you will have absolute control over who sees your ads as well as where you are spending your money. Since they are highly targeted, you can make sure that your ads are seen by only interested people.

With keywords that are relevant to your specific services, you can target users within a certain age group to buy your products or services. You can go further by adding more specifications, such as location, interest, etc. With digital advertising, you will have more power to turn your target audience into potential customers.

3. Easy Tracking

Digital advertising is easy to layout and track. If you want to gain insights about your ad campaigns, you can do that easily by going through your digital ad campaign. You can easily measure all the key aspects of your ad campaign by going through the analytics.

For example, if you want to measure the success rate of your email newsletters, you can track how many of the people, who are receiving the newsletters, are actually opening it and taking action based on that.

4. Fast and Effective

One of the key advantages of digital advertising is that they offer fast and effective results, which cannot be said about its counterpart, traditional advertising. It requires much less turnaround time to plan and execute digital campaigns than the traditional ones.

Apart from that, going digital gives you the option to make changes in your campaign quickly whenever you need it. For small businesses and companies, time is an important commodity and having the power to save it gives opportunities to get good ROI.

5. Easy to Update

Since digital advertising is easy to keep track of, they are also easy to update. Whether you need to make any major or minor changes, you will have the flexibility to make it happen easily. With traditional ad campaigns, you cannot make such advancements.

Suppose you want to make changes in your ad copy the next day you publish it. You can update your copy by just going through your ad platform. While, in traditional copies, you will need to double or triple check your copy before you publish it since you cannot make quick changes afterward.

Final Thoughts

Digital advertising has plenty of benefits over its traditional counterparts. But there’s no secret formula for digital marketing campaign that works right every time. Having the experience, insights, and vision laid out in the right strategy can surely pay off in digital advertising for small businesses.

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BUSINESS

How MSPs Can Assist Clients During COVID-19

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MSPs Assist Clients During COVID-19

MSPs Can Assist Clients During COVID-19

COVID-19 helps to create confusion everywhere in the world. Controlled MSPs are frustrated by the long list of tasks they need to do to maintain their company and industry running properly with their customers.

In a matter of a few seconds, the situation has transformed but there is positive news. MSPs are in a rare role to be seen as an integral part of the activities of their customers.

During these moments it is not just your customers that you should please. While some businesses fail to adapt to the modern standard, others thrive. If the MSP represents one of those vertical markets, you now have an opportunity to double and convince other businesses that the company has what it takes to keep them going regardless of what the world is tossing at them.

There are just some few things to keep a note on in order to be able to outlast the MSP to survive the COVID-19 pandemic to the financial recession.

Rapid Processing Times

Where a current or future client needs emergency IT assistance, MSPs need to be able to answer the call. Because of a branch closure, when a former customer reached out to MSPs that needed on-site IT support to decommission equipment, MSPs have been able to continue providing two techs the very following day. Most consumers are looking for this form of versatility right now because their needs are continuously evolving.

Maintain Cash Flow

Many of the companies are fortunate enough to have a distributed workforce to start operations. Some were forced to significantly limit or close down activities entirely. This is a special type of obstacle. Another that as an MSP user holds you awake at night. Your income streams are increasingly drying up, and you need to have a better look at your accounting and cash flow control.

Forego Long-Term Contracts

Potential consumers may need to help but don’t want to be tied into a long-term deal or investment. Likewise, current consumers can only need to connect to the offerings for the duration of the COVID-19 crisis. Without long-term contracts, MSPs are here to offer IT assistance and provide clients the tools they need – where they need them – and support their company going forward.

Making Interaction Better

During these pandemic MSPs will concentrate on the consumer experience. Be compassionate and empathic with challenges that customers encounter, and let any conversation get them closer to their IT goals and have a positive effect on their market.

Professional Services

Although we have a growing number of employees out of work as a result of COVID-19, many businesses do operate and continue to position talent in a wide variety of positions, like IT.

Keep spending time in talent interviews and nominating customer candidates. Providing a combination of work, work-to-hire, and direct recruitment services would make sure that during that period they can find the best IT solution for their needs.

Managing Remote Workforce

To MSPs and their customers, one of the greatest shifts has been the transition to remote work. Upon the drop of a hat, government lockdowns and social distancing compelled companies to turn to dispersed workers. You remember, as an MSP, that’s put a burden on the staff and activities.

In the weeks or months just before the epidemic, a couple of the customers may have been trying remote work out. For everything moving all at once, you need to double your capacity from everywhere to benefit your clients and your own labor force. So it looks like this worldwide home project research will in the future lead to a continuing rise in more distant research.

Conclusion

COVID-19 continues to generate chaos everywhere in the world. Managed service providers feel overwhelmed by the amount of effort they need to maintain their company running properly, and by the companies of their customers.

There is positive news because certain things have improved. Customers will now more than ever rely on technology to keep their company going. Using technology would allow them to simultaneous activities while retaining productivity and reduce costs.

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