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Anyone can join the discussion and contribute relevant articles to Music Think Tank.  Begin by signing up and then logging in to publish your posts directly to MTT Open. Please make sure that your posts are in the proper format before posting (see previous posts) and that there are minimal errors such as grammar or spelling. Popular articles are occasionally moved to the front of the site. Contributors own and operate this blog (more info).

Entries in music business (53)

Tuesday
Sep022014

Musicians as Entrepreneurs

The music industry isn’t the same as it was in the past. A lot of people have spent a lot of time complaining about this following the rise of the internet, but like everything else, it’s just change. Change isn’t positive or negative, rather it’s what you do with that change that matters. The successful musicians and music business people are embracing that change and running with it as a new breed of entrepreneurs.

In today’s music industry there is no one-size fits all model. We are all free to experiment and find out what works best for us, our fans, and our music careers. This is the true definition of entrepreneurship. Today’s music business approaches would not have worked in the past when technology was expensive and valuable connections were hard to come by.

As an indie musician, I already know you are extremely creative—more so than most business people out there! You may have never thought of it this way, but you have the same mindset, problems to solve and thought process as an entrepreneur. The key is to harness that creativity in your career, capitalize on this new artist ecosystem, and build it into your own model.

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Wednesday
Aug132014

Music Business Strategies

There are a lot of musicians out there struggling to pay the rent, grow their fan base, and make a profit on tour. It’s a tough road, but if you’re dedicated you can make music your career. In today’s music business, it’s not about forcing yourself into a one-size-fits-all box, or throwing a dice and hoping for the best. It’s about building the right career for YOU and YOUR music, experimenting, learning, and adapting to change. Today, you are an entrepreneur, not a product, and great success is waiting for musicians with this mindset. 

The New Artist Model is all about thinking of your music career like a business and using creative strategies to start growing now with the tools and resources you have available. In the New Artist Model FREE E-book, you’ll get a glimpse at some of the proven strategies we discuss in the full online course. Click the image to download your copy and check out the 10 key points of the New Artist Model below.

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Tuesday
Aug052014

Who Stole the Music Business? (And How You Can Get a Piece of the Loot)

Are you a musician? Are you a songwriter? Did you wake up one day not long ago and say “WTF? Who stole the music business?”

With CD sales about half what they were 15 years ago, and the “new media” radio stations like Pandora, Spotify, Grooveshark, et al, reportedly paying out pittances for even millions of airplays, you’re not alone.

And you’re right. Someone did steal the music business. But it may not be who you think and there just might be a remedy available to you.

Game Changer

Once the mp3 was invented, and the historical physical music product (rolls, records, 8-tracks, cassettes, CDs) was transformed into a VIRTUAL product that could easily be captured (stolen) and shared with “peers,” the game was over for making money from music distribution. It has been downhill ever since.

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Tuesday
Nov192013

The Cost of Free

By Athena Butler

When it comes to recorded music, today’s consumers enjoy a free ride and seem to have all the answers.  Song sharing is there for the taking and, in any case, the old music sales model is archaic. But if out with the old and in with the new is stylish in music, the same is not true of music recordings.

For the business, it seems, free is good. However, the decline of recorded music sales has been catastrophic since 2001, when piracy became rampant and the single song Apple economy banished the album. Now, hope for the sector requires a giant leap of faith. In the meantime, the tough job of finding new ways to compensate for this loss of profits falls to the record companies. It may appear that artists are gaining more exposure as music changes hands often and easily. But is the moneymaking of old within the reach of the business?

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Thursday
Aug222013

Copy and Waste: Personalizing Artist Outreach for your Business Should Not be Optional! 

Earlier this week I received a typical inquiry in my inbox. We’ve all received these copy and pasted emails - where some poor soul is blasting out to artists just hoping for anyone to reply! I get them a lot and I also delete them A LOT. I usually am not compelled to say a word. But this time I thought maybe I’ll just give my 2 cents… this poor girl has not replied so either she is a robot with very little email response capabilities OR she rolled her eyes and moved on. Probably the latter!

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Wednesday
May292013

1 Important Music Business Skill You REALLY Need To Learn

Hey guys. Today I want to look at one very important music business skill that will greatly benefit you in your quest for a ‘successful’ music career. We all have our own idea of what success is, but if to you it involves getting known on a wider scale then you already are, the below strategy will definitely help.

I’ve already looked at three other essential business skills for musicians, but this additional skill is just as important, if not more so. You should use it alongside the others for a more professional and faster moving music career.

So, let’s have a look at what the subject of today’s guide is:

Leveraging other people and platforms who currently command more influence than you.

With that in mind, let’s get into it!

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Monday
May132013

The Rise of the Musicpreneur (Part 3/3)

Written by Tommy Darker.

This is the last part of the 3-part series about the Musicpreneur. A link to the complete essay with all the parts and extra resources can be found at the end of the article.

III For the future

Somebody could say that we’re done. That the list is full. Almost.

The present is not all that counts; unless it points to something bigger in the future.

The past years I was working for NATO as an international military policeman. Last summer I decided to quit my job after 7 years of solid and educational experiences. All that because of my love for music.

During my transitional window to a full-time music devotee (active musician and marketing experimenter), I had a lot of time to dedicate and strong appetite to devour books that contained information outside the scope of the Music Industry, but indirectly connected with it.

And then it hit me.

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Tuesday
Mar122013

The Next Era Of The Music Business

The music industry is about to change in a profound way as it turns to streaming as its primary distribution model.For labels, artists, songwriters and musicians alike, their financial lives may hang in the balance.

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Monday
Mar112013

4 Emerging Trends in Social Media & How They’ll Impact The Music Industry

With a rise in social TV, multi-channel engagement, and recent reports suggesting that there are more mobile phones than people in 4/6 of the World’s regions, this year will no doubt be an interesting one for social media, but how will these trends impact the music industry?

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Tuesday
Feb122013

It's all who you know?

When you hear, “It’s all who you know,” it sounds so intimidating - like you need to be a former roommate of Mark Zuckerburg, cousins with Richard Branson, and dating Taylor Swift.

But simply contacting a stranger can lead to a worldwide network of connections.

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Tuesday
Dec042012

SOLVING THE PROBLEM OF NEW MUSIC AND ARTIST DISCOVERY

Whether they ever choose to regain some of their former financial stature and growth, record companies, majors and indies alike, along with unsigned and unknown independent artists, too, must cultivate and create, as quickly as possible, a SINGLE new digital marketplace.  Here competition will flourish and some semblance of reasonable choice and control over the discovery of new artists with original new music will be exercised by whatever is left of the music listening mainstream audience.  In this brave new world, record companies will need to collaborate and combine forces with each other and with independent artists at large.  They will need to move quickly to consolidate into one place a dynamic customer base made up of the depleting record companies’ sales bases along with the ever increasing independent artist fan bases. The passionate members of the music listening public will ultimately choose to gather in this one place and make quick decisions about new music and new artists.  

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Monday
Oct292012

Resume? Resume? I Don't Need No Stinking Resume

Well, of course you do, but aim to have a boatload of material so you don’t have just your resume to show prospective employers. And then, during your first job, find time to do your own thing, by any means necessary, so that you don’t really need that resume after that. I landed the second job of my career with the film production house, Second Story Television without any resume at all. That was because I started that company with a few friends after gleaning enough experience and connections from working at a small film production company/ad agency based on the famed Madison Avenue in NYC. And jobs after SST were mostly pulled in from my network of friends. That’s the key and the underlying thought behind this bloggette: building your career, yourself, again, by any means necessary.

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Thursday
Oct112012

The Shattered Hit Record Model

We’ve all heard the complaints about the current Music 3.0 music industry model: physical product doesn’t sell anymore, download sales don’t make up for the shortfall, and streaming music cannibalizes sales and pays a pittance in royalties. Then let’s heap on the accusation that music today is so formula and soul-less and generally a shadow of what it once was. But how does that explain the recent success of Mumford & Sons and Adele? Here are two principles that hold true in any age.

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Monday
Oct012012

A Little Music Industry Career Advice

Last week I asked a question on my Facebook page which was:- “QUESTION! For anyone looking to get a job in the music business. I’m looking for 7 questions that you would like answered as to how to get a job in the music industry. What would you like to know?” I got a couple of questions back which I thought I would answer in blog form as the answers would be too long for Facebook comments so here there are – incidentally if anyone else has a question that they need help with please post it on my Facebook page and I will answer it for you.

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