There are several topics that an artist should be aware of and should be concerned about both before entering the music industry as well as once in it. There are a few that I'd like to discuss:
1. Demo production
2. Artist royalties
3. Deals to consider
4. Independent versus major record labels
A demo can some times mean the difference in an open and closed door for an artist. Artists have a long list of items they must present to a potential employer in a demo, whereas if presenting the demo to a publisher, the list is a lot shorter. For an artist, it's not just about the songs and production, it's an entire package they must deliver. The songs themselves are largely important, but to labels, they want to see if the artist is someone that they can "sell" along with the music. For someone just presenting their music, perhaps to a publishing company, there are key elements required for a demo, including well recorded music and vocals, good and original music, and something so simple as contact information. There are lots of people who are not considered because a company does not know how to contact the person.
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A key takeaway for me is to remember how important each element is to the overall product. Not only does the song need to have good lyrics, it needs to be recorded well. It also reminds me that the simple elements can make a huge difference, like simply having your contact information on your demo.
With the growing mediums to obtain music, artist royalties are important to research, especially before entering the industry. A 2014 news article was released exposing the fact that American AM and FM radio stations are only obligated to pay the writers of songs they air, not the performers. People like Aretha Franklin and Whitney Houston have not received a single penny for radio airplay of songs such as "Respect" and the cover of "I Will Always Love You". There have been attempts before, but in 2015 Congress introduced a bill called the Fair Play, Fair Pay Act attempting to collect from radio stations for performers. If passed, this could be a really big deal for artists everywhere who may have made a song famous but get no compensation for its airplay if they did not themselves pen the lyrics.
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I was aware that artists are not paid very much for music they perform, but I never knew that they were not at all compensated for radio play. It's really important to me to know the issues that artists face before getting in the industry because these are things that I should be informed of and prepared to deal with.
A third for an artist to be conscious of is the types of deals that they may one day be presented. The 360 deal is seemingly the big new idea of the day, but there are other, less discussed, deals for artists. The distribution deal is an agreement to handle distribution of music. There are some standard components of the agreement, such as the length of the deal and the fees charged by the company. For artists desiring to remain independent, distribution deals may be very appealing and rewarding. Another deal that an artist may eventually consider is the endorsement deal. Once an artist has a following, to take themselves to the next level, they may begin looking to get endorsements from popular companies. The key to the deal is proving to the company your worth (to them), proving what they gain from making a deal with you. This type of deal may not be an immediate undertaking for an artist just getting started but definitely once the artist has experience and a following.
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I've always been interested in the types of deals that artists are offered or after. This week, I learned a bit more about deals and different types that had not previously crossed my mind to research, such as the endorsement deal. After researching, I think that a distribution deal will be very appealing to me, very much more than the 360 deal.
Finally, an artist should really consider whether they want to be an independent artist or if they want to work to join a major label. Being an independent artist means a lot more freedoms regarding creative content and pace of work, whereas being signed to a major label can mean stardom and a huge visibility for an artist. What lots of people don't understand though, is that major labels make up a very small percentage of the music label population. The major labels also have major requirements: very strict time constraints for getting music, very high sales goals (otherwise you may lose your contract), and resulting in lots of pressure and stress for an artist to succeed. Independent labels could possibly provide encouragement to succeed in more positive, less stressful ways.
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After reviewing lots of comparisons of major versus indie labels, I definitely feel I'll be an indie girl. Only time will truly tell. The key thing though is that the differences are known and that I understand the different options and the impact either path could potentially have.
This is not at all a complete list of things artists need to research and consider, but they are all very important and some times misunderstood. The music industry is highly saturated and only the best, most determined will be able to make big waves in it. Knowing the industry you desire to enter is the an important ripple in the musical ocean.
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