What does it mean to be independent? Are you an independent artist? Do you have an independent label? If you follow all the rules in my book, you may have several record labels calling your phone looking to sign you or your act. Being independent is really a blessing, if you are fortunate enough to be able to generate monthly revenue from your music and pay your bills. Any record deal that you sign will come with some sort of compromise. If you arenât willing to compromise, then you shouldnât get into agreements with other people and other businesses. When you are independent, you really cannot fail. Any profit made, is a win. You become somewhat of a slave to the label when you owe them millions of dollars. I personally would not want to owe anyone millions, unless I was 100% sure that I could generate it back. Think about this. Would you rather take $2 million dollars and owe someone, or would you rather earn $2 million dollars on your own time and not owe anyone? This is what you must consider before signing a record deal. Are you mentally in the position to handle a large amount of money and is your brand strong enough to make the labels investment in you worthwhile? You must think about this before you sign a deal because if things donât go as planned, you could end up at the record labelâs mercy. You have to use your best judgment before signing a recording contract. Upon signing a record deal, you are typically giving up rights and control of your music. Usually you give up a percentage of control in your master recordings, copyright, publishing and often times, you may be giving up some creative control. Record companies arenât just giving you money because they like you, they are loaning you money to create a project, with hopes of them earning a profit on the money they loaned you. If you ever hear an artist say, âthey got an advanceâ, that means that a record label loaned that artist some money to produce new projects. New pressure also comes with signing with a major label. If you donât live up to the expectations of your success, it may compromise your brand.
This is an excerpt from Chapter 15: Getting A Record Deal... Or Do You Really Need One from my book "How To Make It In The Music Business: Using Social Media Marketing To Build A Large Following" for Music Business advice which will help you succeed! The book will teach you how to successfully start marketing your brand online. The book covers all aspects of being successful in online branding, not just the music business. Various topics are covered such as: Starting an LLC, Getting Your Music in All Digital Music Stores, Social Media Marketing, 360 Record Deals and Contracts, Entertainment Lawyers, Split Sheets, Online Marketing, Advertising and Going Viral, Publishing, Building Successful YouTube Channels and Gaining Millions of Subscribers, Getting Major Record Deals, Starting a Record Label, Publishing Deals, Royalties, PROs, Instagram & Twitter Marketing, How To Properly Use Social Media, The Rise of Streaming Music and More! Learn how to stay relevant in the New Age Digital Music & Entertainment Business by reading this book!
Written by Prestley Snipes
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