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Do You Qualify?
Record Label Realities
Lifestyle of Freedom
Income Streams
Music Business & Money
How Much Money
Getting Started
Pro or Amateur?
Common Pitfalls
Do You Qualify?
Record Label Realities
Lifestyle of Freedom
Income Streams
Music Business & Money
How Much Money
Getting Started
Pro or Amateur?
Common Pitfalls
 |
The harsh reality about record label deals How do I get signed by a record label? Slim chance of success What are my chances of getting signed by a record label? Slimmer chances of making money How much money can I make with a record label? Slimmest chances...living in a fantasy world! ...but I really think I can get a record label deal. |
The harsh reality about record label deals
What are your real chances of becoming rich and famous with a record label? They are the same as hitting the lottery jackpot. It is immature and just plain dumb to rely on 'getting signed' to make money playing music.
I see many 'experts' hating on Record labels. But let's be honest...those labels have introduced us to some of our favorite bands over the last 60-70 years. They also know how to make a lot of money the music business...PERIOD!
Even though times are changing record label companies still dominate marketing, concerts and distribution. When I was ignorant about the music business, I thought this was the way to go too...until I discovered the facts.
I couldn't wait for success, so I went ahead without it.
-Jonathan Winters
Slim chance of success
Entertainment Attorney, Danica Mathes, says only about 1 in 30 SIGNED CONTRACTS result in sales significant enough to warrant a second CD release.
That means 97% of artists with recording contracts will fail! Danica says, "Getting signed often means the kiss of death. Yet I talk to aspiring artists every day who still believe that they need a major label deal!"
When I hear a musician talk about 'getting signed' I know right away I am dealing with an amateur. I would expect this comment from an outsider who doesn't know a thing about the music industry.
Pro musicians know the low-down. Frankly it's just not something any of us ever discuss. We live and work in the real world where we count on only ourselves to get our music out there.
It is the nature of the wise to resist pleasures, but the foolish will be a slave to them.
-Epictetus
Slimmer chances of making money
In the book titled The Future of Music by David Kusek and Gerd Leonhard you will find this breakdown of a signed artists music sales income:
- 08% ARTIST
- 49% RECORD LABEL
- 08% MANUFACTURING
- 05% SHIPPING
- 30% RETAILER
- 100% CUSTOMER
The best book I have ever read on the financial earnings from a record label (including touring) is called ALL YOU NEED TO KNOW ABOUT THE MUSIC BUSINESS written by 30 year Music Attorney veteran Donald Passman. Not only is it informative and realistic, but funny as hell. I was laughing out loud throughout the whole book.
So even if you were to get discovered, get signed, actually make a CD, then be able to get it on the shelf, get the marketing you need from the label AND go on tour with the BIG TIME musicians... there is no just guarantee your CD will sell. And let's say you did sell 1 million copies, there is still a slim chance you will ever make any significant money.
Compare this to recording, manufacturing and selling your own CD's and MP3's. In MOST cases, after the record label accounting is all said and done, full-time musicians can still earn more money than 80% of signed artists FOR a lot less pressure!
We discuss making money on original music in depth in the Original Artist Corner.
A fool flatters himself, a wise man flatters the fool.
-Edward G. Bulwer-Lytton
Slimmest chances: Living in a Fantasy World!
Perhaps you are just stuck on getting signed. That's fine. I would never deter anyone from chasing a dream.
But if you aren't willing to go out and do what the rest of us do, it sounds like you are just lazy...or scared. The fact is you don't really feel the need to play music, you just want someone to do everything for you. That's why you have to hang all your hopes on hitting the lotto. And if you are not out there gigging, then you aren't even in the 'game'.
Real life example:
Two of our kids are performing musicians. They both knew we worked hard for T to become a full-time musician. They already know we are successful. They also know of other musicians we have helped go full time.
We let them fantasize until they were in their 20's and got serious about playing music for money.
But when they started out they didn't listen to our experience because they were going to be different. Did they not know we went through the same thing in the beginning? That we had the same 'dreamy' thoughts as they had?
But according to them, their music was sooooo special that the whole world would take notice. They would never lower themselves to play covers! Hell no! They figured we just didn't 'get' it!
So we kept our mouths shut and let them go for it. Since the record labels don't want artists over 25 years old anyway, this really was their only shot at the lottery...I mean getting signed.
This was surprising since she has the least discipline of all 3 children, but she does have the most guts! Guess who is out there getting paid gigs left and right? Our daughter split off from her brother and now gets paid to play regularly at venues in Myrtle Beach including Hard Rock Cafe and House of Blues.
She gets paid well and continues to perfect her performances. She plans to move to San Diego to continue her music career. My son is extremely talented but probably needs more time to get really disgusted with his job. :)
Failure is not our only punishment for laziness; there is also the success of others.
-Jules Renard
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