Sunday 15 February 2015

PUTTING MUSIC INTO A BUSINESS CONTEXT

PUTTING MUSIC INTO A BUSINESS CONTEXT

As intimidating as the business world might be to some artists, in effect all business revolves around three very simple concepts:

  1. Identified       a need or desire among people;
2.Developing a product that meets that need or desire; and
3.Marketing the product to the people who need or desire it.

To see music as a business, you simply need to apply these concepts in the following way:
1.Music is both a need and a desire.  People don’t just “like” music—they need it, for inspiration and entertainment. A culture with no music would likely destroy itself. The music business has struggled in recent years with digital technology and music streaming making us re-think how to generate income—but make no mistake: music is in higher demand now than ever before.
2.Music is a product that can potentially meet that need. If you are a performer, as cold as it might seem, you are also a product. If you perform music (not just create it), the public will be interested in you, not just your songs.  The business of music, then, seeks to create a music product that people will spend money on.
3.Once you’ve created a musical product, you market that musical product for sale to the public through promotion, concerts, record sales, etc.

If you can think of music in this way, that’s the first step to finding your place within the business of music and learning how to leverage the music for an income. There are many ways to do this, but at its heart, it really is that simple.

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