It is a known fact that getting signed to a major record label doesn’t guarantee success for an artist, but the odds greater or lower vs. staying indie? Moses Avalon explores the “Vegas Odds” of the record deal.
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Entries in major label (5)
I think we are all tired of hearing about how the music industry is a terrible business.
I get several email newsletters every day chronicling the steady, downward spiral of the major labels. These emails also report about infringers, pirates and the fact that you need more zeros than most simple calculators can handle to find your percentage royalty share from the much loved and hyped Spotify. Doesn’t anyone in the music business talk to people who have been through gut-wrenching changes before in related (or perhaps not related) businesses?
So what are the problems? Buying and consumption patterns of the customers have changed, the labels have lost control of pricing, and barriers to entry across the spectrum have evaporated (to name a few). When I see these problems which seem completely insurmountable, I think of two companies who have lived through this firestorm, and as of today, are thriving, globally dominant operations. The first is IBM and the second is Getty Images.
Mailing lists, one of the most under used tools of an independent musician. But why is this when major labels have been using it to good effect for so many years? It seems no one’s let the “little guy” know of the power of mailing lists, instead allowing them to carry on thinking social networking is the only way to effectively communicate with your fans online. However, this simply isn’t the case.
If you’re not sure why mailing lists are effective, here’s a quick summery:
A look at the pros and cons of both indie and major record label contracts as well as some of the common, yet most confusing terms used throughout the contracts