Music Industry 2017
Session Musicians: Better be looking for other streams of income…NOW! The best session musicians in the world are now giving Skype music lessons.
Indie Artists that want to be on a label: Songwriters and producers are your way in the door. Take every writing session you can get and know that building real relationships will be key.
Indie artists that want to be indie: Cash is King. Make a business. Own the internet. Your job is to make a fanbase so loyal to you, that they will follow you for years to come. People don’t buy what you do, they buy WHY you do it.
Songwriters: Used to have the upper hand but streaming rates set by the government reversed that. If you aren’t aiming for massive hits, forget it. Treat it like a science.
Producers: If you haven’t burnout from working 24/7, producing projects that have neither budget or talent, or on the constant lookout for the next budget less/talentless project, you will indeed one day burnout. Selling to a client without money is never a safe business model. Create recurring revenue somehow or make friends with labels!
Publishers: Chicken or the egg. You either have to first create the songs, or you must create the connections to make the songs successful. Your job is to create a network of brilliant songwriters and get them in the room with the right people. And on the flip side, once you have the songs, you have to sell them. 100% of nothing is nothing! And don’t keep songs forever! Be transparent and honest and if you can’t do anything with the songs, give them back.
Labels: Exploit the masters in as many different ways as humanly possible. Your focus should be distribution and marketing. You also have to repair your bad reputation for being greedy to artists. Every artist loses sleep over the deal that they may need to sign. It starts with transparency and trust.
Live Touring Musicians: You have it good now. You get to travel on a bus, private planes, eat good catering, stay in nice hotels, and enjoy the confidence boost of playing in front of a lot of people. But don’t let this blind you of what’s to come. Save and invest your money like crazy and dream of what you will do after your gig is done…BTW, all gigs eventually come to an end. And if you aren’t prepared, it won’t be pretty.
Crew Members: You probably have it the best out of everybody on this list. If you work hard and are humble, you will go far. Live music is more popular and lucrative than ever and crew members can make bank. But know that like touring musicians, the gigs will come and go and you have to prepare yourself for the day that you can’t physically do the job anymore. Open yourself up a ROTH IRA today!