4 facts you need to survive in the new music industry (2019 Update)

“There was a time when the music industry was filled with corrupt politics and businessman scamming artists for profits. To make it as an artist you had to play ball with certain people to reach your goals. Those days aren’t completely behind us yet, but they are evaporating quickly. Advances in tech and the rise in streaming totals have set the climate for a new and better music industry to take root. With this new music industry comes new rules for making it as an artist or professional.”

I was wrong

So young, so naive. I wrote this article back when I was a mere sapling in the music industry. In the two years since I wrote this, I’ve realized two things that I was completely wrong about.

1. In this industry, just like any other, you are going to have to play ball. Politics and business go hand in hand. Even with streaming accounting for 80% of the revenue in the music industry, record labels will still be prominent. On top of that, there are new tastemakers that dictate what songs go on playlists. Forming relationships with these curators will only be beneficial to an up and coming artist.

 

1.  With the changes in the industry, I thought corruption would decrease. It has in fact exploded. If there are politics there is corruption. If there is value there is someone looking to make a profit from it, honest or not. This industry is a shark tank that artist will have to learn to navigate. This is an unfortunate but very real fact and I see now that nothing will change that.  

 Below I will touch on the four facts you need to survive in the new music industry.

 

Fact 1: Artists have to stand out

 

“Because of tech, artists have more control over their career than ever before. The future looks even brighter as the industry continues to evolve to match the needs of the artist rather than corporate heads.”

 This is one thing I was right about. An artist who is well versed in business and music can command a ton from businesses today. However, this comes at a price. The industry has become overpopulated with talented acts. Artists are faced with the daunting task of standing out in this climate. Not only that, now artists have to face competition from viral YouTubers and ‘house-wives” who want to jump into music to monetize their popularity. 

This is where non-artist industry pros can stand out. Forming connections with Curators A&R’s Dj’s and other industry professionals will go a long way to helping an artist blow. An artist can skip the “clout chasing” phase altogether if they can get their music placed in the proper places.

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Fact 2: Know where the money is coming from

 Artists are the center of the music industry then knowing how they get paid is essential. Touring, publishing, and branding are the top three money makers for artists. Selling tickets, and merchandise (touring and branding) is a direct result of the quality of music an artist can produce and how well received they are by audiences. Publishing opportunities come through networking and rubbing shoulders with the right people. Touring and branding can produce great upfront money but publishing is where the long-lasting residual income is created.

Fact 3: Invest

Money, time, effort, and creativity must be properly invested in order to make it in an industry this saturated. Some have found success in quitting their job to focus solely on their careers, others funded their careers with the cash earned from a day job. Regardless, artists must be prepared for the long haul. The music industry is a grind and is solely performance based. Those who have a background in sales (Like me) know what this means and how hard it can be.  

In this industry and like any good salesman you must have tough skin! The average struggle will incorporate times of financial hardship, times of emotional struggle, and times of loneliness and isolation. A lot of people say they are ready but they are not. The music industry is tough, but pull it off and it will be very rewarding.

The music industry is transitioning and it’s BIG

 

“Advancements in the tech industry have allowed the tables to begin to turn in the music industry. With new legislation being introduced and the music blockchain on the horizon, the music industry is entering a new era. Tech companies are the new labels (or the closest thing to them). Artists are taking control of their brands and succeeding. And soon they will be getting paid properly for their hard work.” 

Ugh, I cringe at how naive I was. I’ll make this brief. Blockchain tech is. Well, being blocked. The Music Modernization Act has passed and artists are still not being paid properly.

 

 

However, the industry is still transitioning. As more issues reveal themselves more solutions will be created. These solutions will continue to change the landscape of the industry creating opportunities that before did not exist. This is great news for anyone aspiring to break into the business. The opportunity for innovation has never been greater. The next music industry greats will emerge from this and change the game forever. Where will you be when it all happens?

 

Thanks for reading, leave a comment in the section provided below for any questions or concerns you may have and I will respond as quickly as possible. Artists and music pro’s alike, feel free to email at [email protected].