This is a question I’ve asked myself 1,373,866 times, while
sitting in my studio staring expressionless at my latest creation via Ableton.
My music is unlike any other, it’s filled with substance, emotion, a wide range
of theatrical sounds that give each track that perfect ambience. I’ve mixed,
and remixed, and revised the remixed version, it has no other choice but to be
perfect in quality. While all of this may be true, the conclusion was that I
was not making any money creating these masterpieces, and that hurt financially
as well as emotionally (I mean, I put my all into my music!). And at that exact
moment I realized that is what I am doing wrong, putting my all into my music,
and not leaving anything else to fulfill the business side of things.
Although there has been a rapid decline from 2002 where the
music industry peaked at almost $26 billion annually, to the most current 2015
annual income of $15 billion, which has been consistent since 2010. With that
knowledge, we can pretty much conclude that there is tons of money to be made
in the music industry. So the answer to the second part of the question;
whether or not it’s possible to make money? Well, yes, it is very possible to
make money! Now let’s get to the FUN part….how?
Notice my emphasis on FUN? Well I did that on purpose. The
fact of the matter is that you are going to have to teach yourself how to have
fun and just plain love the business side of music, because if you do not then
you will fail….period. The reason I say that is simply because 90% of the work
done in order to make sales is outside of the studio, while the measly 10%
withholds your precious creations and efforts/talent in creating. Don’t feel
bad…its business. Now let’s get down to business!
My Business Model:
Product + Costumers = Sales (Revenue)
Simple enough right? Wrong. In order to have a profitable
product you have to first have a demand for a product, so my question is; who
really wants your music? Anybody? Besides your family, friends and inner
circle. Ok, now that we got that insult out of the way, let’s talk about
constructing a solid strategy to create that demand.
First: LISTEN! Listen to that sound that is going places,
mimic those sounds with your own spin on it.
Second: MARKET! Market those sounds as if you are the next
Dr. Dre, Nottz, Meto Boomin, 9th Wonder, Noah “40” Shebib, Drake
etc. No what you have and sell it!!
Third: NO YOUR WORTH! Most producers/artist these days look
for that bottom dollar, therefore allowing their creations to sell for pennies.
No, I repeat, NO artist of worth will ever pay attention to a $2 beat, and no
fan is looking for their artist to sell out…..period. If you want to hustle and
make more than peanuts, you have to know what you’re worth. Do not be afraid to
negotiate, price yourself…and occasionally say NO!
Fourth and Final: INVEST! Investing in your craft is key. Those
that invest show potential clients what you are willing to do to reach the
peak. Also, when investing you are essentially building contacts and
networking, and those individuals know you are serious about your work. As we
all know “it takes money to make money”, if you do not have the confidence to
invest financially in your own craft, what makes you think anyone else would?
- Looking to invest in your craft, affordable mixing and mastering available now at www.66notes.com.
- Looking to invest in your craft, affordable mixing and mastering available now at www.66notes.com.
