QUESTION : WHO IS GETTING RECORD DEALS THESE DAYS and ARE THEY REALLY NECESSARY FOR SUCCESS?
THE INDIE REPORT – by JAY WARSINSKE, INDIEPOWER.com
The ‘Major Labels’ are down to only four and one of those is teetering on the verge of bankruptcy! Some pros are saying it will be down to two very soon and they will ONLY concentrate on their vast and valuable catalogs of hit recordings from the past.
The business of ‘developing new artists’ has shrunk to next to nothing and they have laid off most their promotion people. So they are very ineffective!
For those ‘unlucky’ enough to ‘get signed’ they are signing NOT only all their ownership (and usually any realistic profit), but now the ‘360 Deals’ take a big chunk of the artist’s fallback areas of income (touring, publishing, T-Shirt / merchandising sales). The FACTS are they are NOT signing many artists and the ‘deals’ are not advantageous to the artists. Bottom line is there are FEW ‘record deals’ out there and the few there that exist are questionable in their odds or worth.
Yes, many artists are having great success independent of any control of ‘major labels’ and some even without old fashioned ‘commercial radio’. In fact many established artists are forgoing their multi-million dollar offers to ‘resign’ and leaving their record labels to do it independently to ensure they can make more profit on less sales and have total creative control and marketing input on how to reach their fans!
Companies like INDIEPOWER and others provide access to the same levels of quality Promotion, Marketing and Distribution that the ‘big boys’ used to control. OK, that was shameless self-promotion, but the fact remains that by investing in one’s own career they can retain all their rights and profits, so they own and control what they do. These ‘rights’ are ALL an artists ever has and are necessary to control if a larger company ever wanted to ‘buy you out’.
It’s a BUSINESS, SHOW BUSINESS and it ‘takes money to make money’ or ‘those that take the risks and do the work get the rewards’!
You GOT the Power, USE YOUR INDEPENDENCE!
The Indie Report on L2PNet.com gives you the chance to ask industry pros about the business of music. Jay Warsinske runs IndieReport.com and is our resident Music Biz Guru. Send your questions to revbill@L2PNet.com and we’ll pass them along to Jay.