Hey! Do you think you know how music artists make their money??
Legendry Artist Flavour. During last Enugu free concert. #flavour of Africa!!!Understanding how musicians make money!!
A lot of people this dayd follow the trend and talk about an artist driving the best automobile, living in the best choice properties, a million dollar signet ring and necklace, hair style, bodyline tatoe, and fashion clothline.
Their income stream from several sources, and only those who has the management mind set, and disciplined financial knowledge that last the 5-10 years stardom yard scale.
Money flow through the following carefully managed streams for musicians.
Copyright — ownership of songs and albums as creative works of natural intelligence and talents. The state gives protection and payment right to musicians ( that is originator of lyrics)who originates an album solo or duo.
Such revenue represent “Royalties” the sums paid to rights-holders when their creations are sold, distributed, embedded in other media or monetized in any other way. Songwriters and producers even in the digital divide also get protected and earn similar right to income.
In the music industry copyrights consist of composition (lyrics, melody) and sound recording (literally, the audio recording of the song).Sound recording and copyrights are owned by recording artists and their record labels.
There are other distinctions between sound recording licenses that generate royalties, such as performance rights (for a song’s played on, AM/FM radio, satellite radio and Internet radio) and reproduction rights (for sales of physical CDs or digital music files) and song rights (for song use in film, television and other media) copyright belongs to the artists and the record label sponsoring the musician.
Income from performing Live music on off stage.
Live events, and gigs (e.g Stonehenge, Frankfurt show, Texas Gala night canibal) are quickly taking the world by storm creating lucrative platform for musicians globally.
Increasingly this is why musical tours are getting festivals invites and drawing incredible fan followings. This days cross atlantic duo and live concerts happened between musicians globally. Its phenomena revenue support collaborations. Most tours, festivals national gigs, one-off concerts — are commanding some of the highest ticket prices ever for artist and label owners.
Advertising
Commodity and services backup publicity through brand partnerships offer artists the ability to endorse a brand they might genuinely like, and get access to additional revenue stream while they sponsor pitche statement of recommendation.
The new trend of social media and tech developers have carved out other stream niche for musicians to earn exyra revenue, such the YouTube monetization, blogger monetization, vemio stream, poadcast for musics, including SEM advertising that comes with those sites. The Korean music “Gangnam made $2 million from 2 billion YouTube views and downloads. Some musical video sites in the US & Europe still offer upwwards of $2,500 per 1000 stream.
Fashion, & bodyline Cosmetic Merchandising, and Other Direct Sells
Sales of non-music products like perfumes, body lotions, souvenir, and clothing lines these combinations gives artists advantage of for decades — but in the digital era, musicians can also get creative with orchestrating local gigs, where they get to play and sell some of their CDs, videos, merchandise to revellers, taking the game direct to fans outside traditional model of music marketing.
The music industry globally now accepted streaming as another legal revenue source, and several media are emerging by the day. As many ICT developers wants a fairs slice of the cash in the musical industry.
Making money in the music industry isn't always as simple as described above a lot emolument and salary including other expenses are often incurred in the processes of funneling your music to the end users.
The pay structure of many musician or music industry services are based on percentages.
Either for a one-off deal and freelance-style work and may differ from music industry careers base to the function of services they provide.
Whichever block of the service value chain you choose, and pathern of marketing. The followings represent value chain service structure that musician pay record must accommodate.
Music Managers: Managers receive an agreed percentage of income from the artists they work for or pay managers fixed salary.
Managers organise so many activities onbehalf of their artists, including profile brand development.
Music Promoters: Promoters make money on sales of ticket for the gigs they promote.
Some promoters takes a percentage of the proceeds from the show after recouping their costs, giving the remaining money (split deal) to the artists.
The promoter may agree on a fixed payment with the musicians for their performance, and then any money left after costs is theirs to keep.
Some promoters also help the artist by giving publicity and brand caeer promotion. All in the aim of piloting the artist to make extra income.
Music Agents: Agents take an agreed-percentage of fees for their organised shows, they arrange onbehalf of the musicians. Usually the agents often look for gig event locations, and concerts in much same way as the promoter but at lower level.
Record Labels: Record labels make money by selling records onbehalf of their artist. The label arrangements often are wide to define or spell out.
This days with the help of the social media a lot of artists, establish their own label, like 2Face, R.Kelly, Late Mic Jackson, Ray Charlse etc. Some labela place their artists on salary or hourly wages. Depending upon entry level and personal brand.
Before you make your choice of record label do some home work, add value to your brand personality.
Hey! Do you need help with your music marketing?
Do you want more information on music marketing? Hit the subscribe button for our e-book *The rise to stardom*. Its free and gratis.!!!
w365m.blogspot.com
No comments:
Post a Comment