4 Things Most People Don’t Know About The Music Industry
The music industry is seen as one of the most glamorous in the world, but most people don’t see its dark side. For every artist that makes it, there are thousands and thousands of horror stories. And most of the time, ignorance is the main reason behind them.
The music business is notoriously treacherous, and music executives will not hesitate to take advantage of an artist’s lack of knowledge. This is why you need to learn as much as you can about the industry before you even think of getting signed. Let’s take a look at some of the things a lot of people don’t know about the music industry.
1. Record Sales are not the Main Source of Revenue for Artists
One thing that shocks a lot of people when they start learning about the music industry is that artists usually don’t make most of their money from record sales. Recording artists make most of their revenue from live shows, not royalties. This is why you hear stories about artists who had a chart-topping hit on the radio but still had money issues, and this could happen to you too. So, you need to know how to manage your finances properly if you ever get a deal.
This also means that you will have to make your live performances a top priority right now if they aren’t already. Putting on a bad show is a surefire way to kill your buzz and ruin your reputation. If you put on a great show, on the other hand, your name will start spreading and you’ll be able to start building an initial audience.
Most artists make their money through million-dollar endorsement deals. Have you ever seen how they feature products in a subtle fashion in their music videos? That is what helps them pay for the big houses, supercars, and extravagant lifestyles. Most of us just download the music from pirate bay rather than pay for the same on streaming platforms. It is easier, more cost-effective and safer than anything else.
2. Social Media is Everything
We would love to tell you that the music industry is driven by talent, but it isn’t. Social media plays an extremely important role right now, and many record companies won’t even consider an artist who doesn’t have a substantial following there. Social media gives them evidence that there is demand for you.
One thing that record companies hate more than anything is risk and signing an artist with a large following takes much of the risk away. So, you might have to work as much on building your social media presence as you do on your music. Your music might get you some attention, but you also have to know what other types of content will make your audience tick.
Don’t assume you’ll have to do wild antics to go viral, however. Just a heartwarming performance in an unusual setting or showing people another side of your life could help you build an audience.
3. Talent and Quality Still Matter
With that being said, talent is still important in the music industry, and it could take you a long way if you have everything else down as well. It is your talent that will get you the respect of executives, and it could be what makes the difference in the end.
You also need to polish your work so that you have professional-sounding tracks to present to executives. This means that you’ll have to invest in good production and find a high-quality affordable studio to work on your creations.
If you’re looking for a good recording studio to hire, PIRATE could be a great option. This is the place to go if you want a recording studio that won’t cost you much but will still get you top-level quality. What makes their studio so great is the freedom they offer. You’ll be able to go in at any time of the day and night and work on tracks with your team.
4. Record Contracts are a Lot Like Loans
One of the most tragic things in the industry is when artists get trapped into a contract because of the massive advance that was given to them. These artists often don’t realize that they will have to pay that advance back. They also often don’t realize all the things they’ll have to pay out of their own pocket, like video production or studio time, for instance.
An advance is literally a loan that the record company gives you to take care of your basic expenses after they sign you. They do this mainly so they can protect their brand as having an artist struggle after getting a deal is not a good look for them.
You may get shelved by the record company and never release a track, only to then be hundreds of thousands of dollars in the hole. This is what sends many artists down a downward spiral. So, know how advances work before you look for a deal and don’t let a big advance sway your decision.
Now that you know a bit more about the music industry, you’ll be less likely to make mistakes that end up ruining so many careers. Learn the truth about what being a signed artist is really like and all the challenges that come with it.