Extinction-The Future of The Recording Industry Part 2
April 02, 2008 at 10:56 PM
Extinction-The Future of The Recording Industry Part 2
Last time we examined some of the current trends in the music business. With a gloomy forecast for the future, what is an up and coming artist to do? The chances of getting a break with one of the few Major record labels, is few and none. If you are a singer, and you don’t mind selling your soul, I would suggest trying out for American Idol. You have a chance to make a lot of money in a short period of time. Just remember if you’re going to sell-out, sell-out big. The reason is you may have a short, less than 3 year run as the winner of The American Idol game show. See from me and me only, I view American Idol as a game show. Music is not a game or a competition. Music is art. We are all different though, so if being on American Idol is your dream, go do it! As I said make the most of it. Chances are you will never work again or at least be taken seriously after your run.
Enough of that. What are some other ways to get your music out? Right now is a very artist friendly time in regards to getting your product out. The difference being if you can’t get a record deal, you are going to need money to get your product out. This can come from many sources. You can essentially start your own label with a little help. I recently did this. Here is a look at how little I spent:
1- Recording of cd $0 I recorded it myself at my house
2- Artwork $0 A friend offered to do it for free
3- Duplication of 3000 cds $2500
4- Hiring a radio promoter to service 300 stations $3000
5- Hiring a PR person to service over 300 Media Outlets $3000
6- Postage to get cds out $1500
7- 3 Ads in a genre specific international magazine $900
8- Venue Posters $200
9- Cd Baby Account for distribution $0
10- Indy distribution Company $0
So the total budget spent $11,100
The big missing element in this deal is tour support. This project toured a bit. Basically working for door deals, selling merch. The touring expense is so expensive, its tough to keep a band on the road for any period of time. Now if you are getting radio and press support in a market, you will make a bigger bang at your show.
5 months after the release, after doing about 70 shows, selling cds at shows and online and through distribution, the project is only about $1500 away from the break even mark. Now you may say “Wow” that’s great or “Wow” that sucks. I would suggest talking to anyone who has ever worked for a record label in the last 20 years. If you tell them you put out a record and said you broke even, they will say how great you did. Most labels continue to loose huge amounts even on established acts. Most money is made on the road touring. The major difference is a major label will spend millions of dollars to promote a record. The more you spend the more you need to make. The cd I backed did quite well critically and should break even in the next month or so. Every time you make a record, you can move up a few notches in hopes of one day of making a living.
Say you’re an artist who doesn’t want to record? You just want make a record and put it out. You can eliminate most of the expenses and do most of it on your own.
Record your cd, try doing it on your own to keep expense low. Print up 2000. Find an artist your similar to and see what radio stations play their music. Track down a list of radio stations and press outlets. Mail them your cd. Sign up for a myspace account. Its free and a great promo tool. Sign u for a cd baby account. Put a link on your myspace to cd baby. CD baby will also set-up I-tunes for you. So for less than $5000, you can record a cd, duplicate, contact radio, magazines, newspapers and websites. Sell your cds and downloads through Cd Baby/I-tunes.
This is a very good way to start. As I said in previous articles, be persistent, especially when dealing with press and radio. Search out the college stations as well. A lot of major artists got their start with a core college crowd.
Good Luck! It can be done!
-Earl Smith