Investment = Longevity ( and you can do it …)
by Ace (Skunk Anansie)
As we all know the music business has changed and we all need to adapt to survive if we want to continue within it. The old days of waiting for a record company to come along and throw some cash at your band and hope you sink or swim is becoming increasingly rare. If you don’t have a hit single and album in the first year, it’s pretty likely that you will get dropped and be penniless pretty soon after.
My thoughts to longevity in this business is to start investing in your band or artistry right from the start. This doesn’t necessarily mean financially at first, it means planning and putting time and effort into your organisation as a whole for a long lasting career.
Bands that do really well now have their own labels, merchandising and touring incomes.
It’s not that difficult to take control now as the doors are wide open with the Indie model of selling records becoming bigger than it’s ever been. Major labels can suffer with the amount of financial investment and corporations/staff to pay for when physical sales are dwindling and streaming incomes are low. It seems as if Major label artists are living off Record company advances rather than profits.
Take control
The tools and answers are all out there now and easy to see. There are many ways you can invest in your band or solo career that are achievable and obtainable, that in the past there was no access to.
1. Form your own record label: It’s possible to record and mix mostly anywhere these days with a laptop and a few select pieces of gear. A release can be made in a rehearsal room or house with a good ear and some software trickery. Register it at Companies House as a business and get a bank account in its name. Quick, cheap and easy. (https://www.gov.uk/government/organisations/companies-house)
2. Pressing up CDs and Vinyl is pretty low cost now that manufacturing has advanced, and this can be sold at shows where 100% of the profit goes back to the band.
If you get some label interest and do some shows abroad maybe you can license your recordings to other small labels that will press it up and sell it over there for a percentage of the profits (anywhere from 50-70%). They can also help support you in those territories.
3. Own your own Publishing rights by signing up to MCPS/PRS alliance (www.prsformusic.com) getting 90% of your royalties until which time you see fit to sign the rights to a publishing company that offers you some advance money for a good deal.
4. The same goes with T-Shirts and Hoodies etc. Make the designs yourself, test out ideas on Facebook etc fanbase and print them up low cost locally and sell them at the merchandising stand or your own online store, such as Music Glue (www.musicglue.com) - or your own web.
5. Make your own Website on free sites such as Wix (www.wix.com) and pay for a cheap hosting package at first. Add premium features when needed. Control your output, own your fanbase data. - Don’t be paying a web designer for content updates and overhauls.
6. What with free and cheap advertising through social media, you can become your own publicist, it’s just a matter of sitting down and doing a bit of internet research and putting in some scheduled hours in the week to make a logical and effective plan of work. Plan a small budget for paid posts etc and make full use of the internet reach and what it has to offer. Contact fanzines and online underground music sites/ radio stations for reviews, features or plays etc.
7. Make your own videos and online content with an iPhone, good lighting and a good eye. Upload it to YouTube and create your own channel.
8. Finance your own tours on a shoestring budget at first. Do gig swaps from bands you befriend around the country on Facebook and assemble street teams from you social media followers.
9. Bump up your profits, or your money you need to actually tour, by selling your merchandise and records personally after each gig. Announce on stage that you will be signing them straight after the show and peddle your wares!
10. If possible try to get a permanent space you can base as your HQ and make it your Industry hub.You can rehearse there, make records, videos, book tours, and store your merchandise. You can even teach there at times when it’s inactive from band use.
11. Call a band meeting and work out what strengths and weaknesses members have and allot yourselves different jobs and responsibilities within the band workload to be completed.
12. And on top of this if you are really serious about making it, get part time jobs based in music that will allow you to still gig and record but still involve you in the call important networking side of the business. These flexible income streams will still help you to survive while you build your own musical career. For example, working in venues, clubs, studios, labels and teaching etc.
If you can do this, it’s like building your own house on a very small mortgage. Once you paid the initial small investments back, the day to day runnings will be easily absorbed and you’ll have a safe port in the storm and a place to live forever. You’ll be in control of your music and your business with the infrastructure in place for a long career if you want it.
…. But just remember one thing, you’ve got to REALLY want it … that’s how things happen.
Happy building…
Ace
Ace's upcoming new book “Will Rock for Food” gives ‘in a nutshell’ answers to all facets of building your career in music and flexible income streams.
Photo credits: Mark Latham
This new blog is presented by the team at Sound Technology Ltd, a leading distributor of musical instruments and pro audio equipment in the UK and ROI.
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