In today’s world of digital music, mixtapes, viral videos and
Kickstarter, many wonder whether it’s worthwhile to be signed by a record
label. As long as you have loyal fans,
gigs on the calendar and the freedom to make the music you like, why
bother? Well, it really depends on how
large you envision your audience to be.
If you want to be well known in your city, then what you’re doing is
probably enough. But, if you want your
music to be on a national or international level, you will need some marketing
support and financial backing.
Therefore, this blog posting is for artists and managers interested in
the “big leagues”. For those of you
still in denial about wanting to be signed to a record deal, this chart is for you…
Recently, I read a report entitled Investing in Music: How
music companies discover, nurture and promote talent. I highly encourage all artists and managers
to read this document; I was truly enlightened.
This report was published by the IFPI (International Federation of the
Phonographic Industry) and WIN (Worldwide Independent
Music Industry Network). IFPI is a not
for profit professional association that represents the international recording
industry and is affiliated with the RIAA (Recording Industry Association of
America). Their stated mission is to:
·
Promote the value of recorded music
·
Safeguard the rights of record producers
·
Expand the commercial uses of recorded music
Plácido Domingo, world famous tenor and conductor, is the current
chairman of IFPI. He notes that to have
a successful career in music, besides talent, you must have “ambition, passion,
boundless energy and a relentless commitment to hard work.” The report is comprised of sections related
to record label investment, discovering and signing talent, nurturing talent
and promoting talent. The report
provides great insight in terms of how record companies perform these
functions. And for those who are
nurturing and promoting talent, it clarifies the label’s role via their A&R
functions.
So, how does a record company help?
Mainly, their investment includes payment of advances, tour support,
marketing and promotion costs, financing recording costs, and even music
videos. They typically have a team of
people who assist in all aspects of your career. They can also assist in brokering
collaborations with top people in the industry including producers,
videographers and other artists. A
record label is also adept at developing synch deals with various brands to
help promote your music. This doesn’t
negate the role of your manager, who will provide guidance in negotiating a
deal with a record label along with your attorney. You can also clarify if you want your manager
to continue performing their current function.
So don’t automatically decide you don’t want to work with a record
label, there can be great benefits in creating this type of partnership.
Be sure to leave a comment with your thoughts on the report.
D Leigh
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