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CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
CreativeStudent.net: The Business Of Music
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CreativeStudent.net: The Business Of Music

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A beginners guide to music industry

A beginners guide to music industry

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  • 1. the business of music Chris Cooke MD, UnLimited Media Group Founder & Business Editor, CMU
  • 2. introduction <ul><li>It’s all about the music business </li></ul><ul><li>ie: the business of music </li></ul><ul><li>music = funky beats </li></ul><ul><li>business = making money </li></ul><ul><li>music business = making money out of music </li></ul><ul><li>But why make money out of music at all? </li></ul>
  • 3. why make money from music? Costs to do music full time per year Flat £6000 Other living costs £6000 Travel to gigs £3000 Recording costs £1000 Kit £500 CD manufacture £1000 Distribution £500 Marketing & PR £4000 Tax + NI? £2000 TOTAL £24,000 Band of 4 £15000 £24000 £6000 £1000 £1000 £1000 £500 £4000 £7000 £59,500
  • 4. making money from music PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>DIY gig </li></ul><ul><li>Get booked </li></ul><ul><ul><li>Venue </li></ul></ul><ul><ul><li>Tour </li></ul></ul><ul><ul><li>Festival </li></ul></ul><ul><li>Corporate gig </li></ul>
  • 5. making money from music PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>DIY gig </li></ul><ul><li>Get booked </li></ul><ul><ul><li>Venue </li></ul></ul><ul><ul><li>Tour </li></ul></ul><ul><ul><li>Festival </li></ul></ul><ul><li>Corporate gig </li></ul><ul><li>What is intellectual property? </li></ul><ul><li>How can you make money from it? </li></ul>
  • 6. introducing intellectual property <ul><li>Expressions of creativity - that can be owned </li></ul><ul><li>Set out in ‘intellectual property acts’ </li></ul><ul><ul><li>Copyright, Designs & Patents Act 1988 </li></ul></ul><ul><ul><li>Trademarks Act 1994 </li></ul></ul><ul><li>IP rights you might own as an artist </li></ul><ul><ul><li>literary copyright in lyrics </li></ul></ul><ul><ul><li>musical copyright in musical score </li></ul></ul><ul><ul><li>sound recording copyright in recording of your music </li></ul></ul><ul><ul><li>film copyright in video </li></ul></ul><ul><ul><li>artist copyright in artwork </li></ul></ul><ul><ul><li>trademark in names and logos - must be registered </li></ul></ul>
  • 7. making money from intellectual property <ul><li>Copyright owners control access to music </li></ul><ul><li>So if people want it… charge for access </li></ul><ul><li>Either make copies of work + sell to consumers </li></ul><ul><li>Or licence it to others to copy or perform </li></ul><ul><li>Standard licencing: charge what you like/can </li></ul><ul><li>Compulsory licencing: standard royalty rates </li></ul><ul><li>Some collected via collecting societies </li></ul>
  • 8. making money from music PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>DIY gig </li></ul><ul><li>Get booked </li></ul><ul><ul><li>Venue </li></ul></ul><ul><ul><li>Tour </li></ul></ul><ul><ul><li>Festival </li></ul></ul><ul><li>Corporate gigs </li></ul><ul><li>So make money this way… </li></ul>
  • 9. making money from music PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>DIY gig </li></ul><ul><li>Get booked </li></ul><ul><ul><li>Venue </li></ul></ul><ul><ul><li>Tour </li></ul></ul><ul><ul><li>Festival </li></ul></ul><ul><li>Corporate gigs </li></ul><ul><li>Sell CDs/downloads </li></ul><ul><li>Others’ CD sales </li></ul><ul><li>Others’ gig revenues </li></ul><ul><li>Radio/TV royalties </li></ul><ul><li>Pub/shop etc royalties </li></ul><ul><li>Sync royalties </li></ul><ul><li>Sell sheet music </li></ul><ul><li>Sell merchandise </li></ul>
  • 10. making money from music PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>DIY gig </li></ul><ul><li>Get booked </li></ul><ul><ul><li>Venue </li></ul></ul><ul><ul><li>Tour </li></ul></ul><ul><ul><li>Festival </li></ul></ul><ul><li>Corporate gigs </li></ul><ul><li>Sell CDs/downloads </li></ul><ul><li>Others’ CD sales </li></ul><ul><li>Others’ gig revenues </li></ul><ul><li>Radio/TV royalties </li></ul><ul><li>Pub/shop etc royalties </li></ul><ul><li>Sync royalties </li></ul><ul><li>Sell sheet music </li></ul><ul><li>Sell merchandise </li></ul><ul><li>Fan clubs etc </li></ul><ul><li>Product endorsement </li></ul>
  • 11. some money created by selling music to other businesses… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>DIY gig </li></ul><ul><li>Get booked </li></ul><ul><ul><li>Venue </li></ul></ul><ul><ul><li>Tour </li></ul></ul><ul><ul><li>Festival </li></ul></ul><ul><li>Corporate gigs </li></ul><ul><li>Sell CDs/downloads </li></ul><ul><li>Others’ CD sales </li></ul><ul><li>Others’ gig revenues </li></ul><ul><li>Radio/TV royalties </li></ul><ul><li>Pub/shop etc royalties </li></ul><ul><li>Sync royalties </li></ul><ul><li>Sell sheet music </li></ul><ul><li>Sell merchandise </li></ul><ul><li>Fan clubs etc </li></ul><ul><li>Product endorsement </li></ul>
  • 12. so… <ul><li>GOOD NEWS </li></ul><ul><li>Lots of ways to make money from music </li></ul><ul><li>BAD NEWS </li></ul><ul><li>It’s going to take a lot of time… </li></ul><ul><li>… and money </li></ul>
  • 13. meet the music business - people that do all this for you… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>Venues </li></ul><ul><ul><li>Sound/Lights </li></ul></ul><ul><ul><li>Security </li></ul></ul><ul><ul><li>Bar </li></ul></ul><ul><li>Tour logistics </li></ul><ul><li>Ticketing </li></ul><ul><li>Marketing & PR </li></ul><ul><li>PROMOTERS </li></ul><ul><li>AGENTS </li></ul><ul><li>Recordings </li></ul><ul><ul><li>Artist Development </li></ul></ul><ul><ul><li>Studio etc </li></ul></ul><ul><ul><li>Distribution/Retail </li></ul></ul><ul><ul><li>Licensing </li></ul></ul><ul><ul><li>Marketing & PR </li></ul></ul><ul><li>RECORD LABEL </li></ul><ul><li>Songs (lyrics & notes) </li></ul><ul><li>COLLECTING SOCIETY </li></ul><ul><li>PUBLISHER </li></ul><ul><li>Merchandise </li></ul><ul><li>MERCHANDISER </li></ul><ul><li>Fan management </li></ul><ul><li>FAN MANAGEMENT AGENCIES </li></ul><ul><li>Brand partnerships </li></ul><ul><li>ADVERTISING AGENCIES </li></ul>
  • 14. meet the music business - these are the companies PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>Venues </li></ul><ul><li>Sound/Light Technicians </li></ul><ul><li>Security </li></ul><ul><li>Bar Operators </li></ul><ul><li>Tour Management </li></ul><ul><li>Ticket Agencies </li></ul><ul><li>Marketing & PR Agencies </li></ul><ul><li>PROMOTERS </li></ul><ul><li>AGENTS </li></ul><ul><li>Artist Development </li></ul><ul><li>Studios/Producers </li></ul><ul><li>Distributors/Retailers </li></ul><ul><li>Licensing Agents </li></ul><ul><li>Marketing & PR Agencies </li></ul><ul><li>RECORD LABEL </li></ul><ul><li>COLLECTING SOCIETY </li></ul><ul><li>PUBLISHER </li></ul><ul><li>MERCHANDISER </li></ul><ul><li>FAN MANAGEMENT AGENCIES </li></ul><ul><li>ADVERTISING AGENCIES </li></ul>
  • 15. and one very important person (or company)… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP THE MANAGER LAWYER ACCOUNTANT
  • 16. but… <ul><li>We know how to make money from music </li></ul><ul><li>We know the people/companies who help </li></ul><ul><li>But time is money! </li></ul><ul><li>Who pays for all these people, and you? </li></ul><ul><li>Start up money… </li></ul>
  • 17. getting started <ul><li>GOOD NEWS </li></ul><ul><li>Some people will work for free </li></ul><ul><li>Some people will cover other costs </li></ul><ul><li>Some people will pay you some money </li></ul>
  • 18. these companies/people might work for free… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>Venues </li></ul><ul><li>Sound/Light Technicians </li></ul><ul><li>Security </li></ul><ul><li>Bar Operators </li></ul><ul><li>Tour Management </li></ul><ul><li>Ticket Agencies </li></ul><ul><li>Marketing & PR Agencies </li></ul><ul><li>PROMOTERS </li></ul><ul><li>AGENTS </li></ul><ul><li>Artist Development </li></ul><ul><li>Studios/ Producers </li></ul><ul><li>Distributors /Retailers </li></ul><ul><li>Licensing Agents </li></ul><ul><li>Marketing & PR Agencies </li></ul><ul><li>RECORD LABEL </li></ul><ul><li>COLLECTING SOCIETY </li></ul><ul><li>PUBLISHER </li></ul><ul><li>MERCHANDISER </li></ul><ul><li>FAN MANAGEMENT AGENCIES </li></ul><ul><li>ADVERTISING AGENCIES </li></ul>THE MANAGER / lawyer / accounts
  • 19. these might cover other costs and give you cash… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>Venues </li></ul><ul><li>Sound/Light Technicians </li></ul><ul><li>Security </li></ul><ul><li>Bar Operators </li></ul><ul><li>Tour Management </li></ul><ul><li>Ticket Agencies </li></ul><ul><li>Marketing & PR Agencies </li></ul><ul><li>PROMOTERS </li></ul><ul><li>AGENTS </li></ul><ul><li>Artist Development </li></ul><ul><li>Studios/Producers </li></ul><ul><li>Distributors /Retailers </li></ul><ul><li>Licensing Agents </li></ul><ul><li>Marketing & PR Agencies </li></ul><ul><li>RECORD LABEL </li></ul><ul><li>COLLECTING SOCIETY </li></ul><ul><li>PUBLISHER </li></ul><ul><li>MERCHANDISER </li></ul><ul><li>FAN MANAGEMENT AGENCIES </li></ul><ul><li>ADVERTISING AGENCIES </li></ul><ul><li>THE FANS </li></ul>THE MANAGER / lawyer / accounts
  • 20. these might cover other costs and give you cash… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>Venues </li></ul><ul><li>Sound/Light Technicians </li></ul><ul><li>Security </li></ul><ul><li>Bar Operators </li></ul><ul><li>Tour Management </li></ul><ul><li>Ticket Agencies </li></ul><ul><li>Marketing & PR Agencies </li></ul><ul><li>PROMOTERS </li></ul><ul><li>AGENTS </li></ul><ul><li>Artist Development </li></ul><ul><li>Studios/Producers </li></ul><ul><li>Distributors /Retailers </li></ul><ul><li>Licensing Agents </li></ul><ul><li>Marketing & PR Agencies </li></ul><ul><li>RECORD LABEL </li></ul><ul><li>COLLECTING SOCIETY </li></ul><ul><li>PUBLISHER </li></ul><ul><li>MERCHANDISER </li></ul><ul><li>FAN MANAGEMENT AGENCIES </li></ul><ul><li>ADVERTISING AGENCIES </li></ul><ul><li>THE FANS </li></ul>THE MANAGER / lawyer / accounts Traditionally these were the main initial investors
  • 21. getting started <ul><li>BAD NEWS </li></ul><ul><li>They will want something in return </li></ul><ul><li>Cut of future revenue </li></ul><ul><ul><li>What revenue? </li></ul></ul><ul><ul><li>What percentage? </li></ul></ul><ul><ul><li>For how long? </li></ul></ul><ul><li>Ownership of copyright </li></ul><ul><li>Exclusivity </li></ul><ul><li>Will want some control to ensure return </li></ul>
  • 22. making it as a band <ul><li>Think about costs and revenues </li></ul><ul><li>Formalise business partnership between band </li></ul><ul><li>Get a good manager (and lawyer) </li></ul><ul><li>Think about deals carefully… </li></ul><ul><ul><li>How many deals to be done? </li></ul></ul><ul><ul><li>Who has artistic and commercial control? </li></ul></ul><ul><ul><li>Will you give up copyright? </li></ul></ul><ul><ul><li>Big v small, major v independent </li></ul></ul><ul><li>Exit strategy… </li></ul>
  • 23. working in the music business <ul><li>Investigate sectors within the industry </li></ul>
  • 24. research these music companies… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>PROMOTERS </li></ul><ul><li>Live Nation </li></ul><ul><li>AEG Live </li></ul><ul><li>MAMA Group </li></ul><ul><li>SJM </li></ul><ul><li>DF Concerts </li></ul><ul><li>Kilimanjaro </li></ul><ul><li>CPA/AIF </li></ul><ul><li>BOOKING AGENTS </li></ul><ul><li>CODA </li></ul><ul><li>Primary Talent </li></ul><ul><li>Helter Skelter </li></ul><ul><li>RECORD COMPANIES </li></ul><ul><li>EMI Music </li></ul><ul><li>Sony Music </li></ul><ul><li>Universal Music </li></ul><ul><li>Warner Music </li></ul><ul><li>Beggars Group </li></ul><ul><li>Domino </li></ul><ul><li>Ministry Of Sound </li></ul><ul><li>AIM </li></ul><ul><li>INSIDE THE LABELS </li></ul><ul><li>A&R </li></ul><ul><li>Marketing/Product Management </li></ul><ul><li>Press & Publicity/ Radio Promotions </li></ul><ul><li>Licensing </li></ul><ul><li>Creative </li></ul>
  • 25. research these music companies… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>PROMOTERS </li></ul><ul><li>Live Nation </li></ul><ul><li>AEG Live </li></ul><ul><li>MAMA Group </li></ul><ul><li>SJM </li></ul><ul><li>DF Concerts </li></ul><ul><li>Kilimanjaro </li></ul><ul><li>CPA/AIF </li></ul><ul><li>BOOKING AGENTS </li></ul><ul><li>CODA </li></ul><ul><li>Primary Talent </li></ul><ul><li>Helter Skelter </li></ul><ul><li>PUBLISHERS </li></ul><ul><li>EMI Music Publishing </li></ul><ul><li>Sony/ATV Music Publishing </li></ul><ul><li>Universal Music Publishing </li></ul><ul><li>Warner/Chappell Music </li></ul><ul><li>Bucks Music Group </li></ul><ul><li>Chrysalis Music </li></ul><ul><li>Notting Hill </li></ul><ul><li>MPA </li></ul><ul><li>MERCHANDISERS </li></ul><ul><li>Bravado </li></ul><ul><li>Backstreet </li></ul>
  • 26. research these music companies… PERFORMING INTELLECTUAL PROPERTY ARTIST/FAN RELATIONSHIP <ul><li>PROMOTERS </li></ul><ul><li>Live Nation </li></ul><ul><li>AEG Live </li></ul><ul><li>MAMA Group </li></ul><ul><li>SJM </li></ul><ul><li>DF Concerts </li></ul><ul><li>Kilimanjaro </li></ul><ul><li>CPA/AIF </li></ul><ul><li>BOOKING AGENTS </li></ul><ul><li>CODA </li></ul><ul><li>Primary Talent </li></ul><ul><li>Helter Skelter </li></ul><ul><li>PUBLISHERS </li></ul><ul><li>EMI Music Publishing </li></ul><ul><li>Sony/ATV Music Publishing </li></ul><ul><li>Universal Music Publishing </li></ul><ul><li>Warner/Chappell Music </li></ul><ul><li>Bucks Music Group </li></ul><ul><li>Chrysalis Music </li></ul><ul><li>Notting Hill </li></ul><ul><li>MPA </li></ul><ul><li>MERCHANDISERS </li></ul><ul><li>Bravado </li></ul><ul><li>Backstreet </li></ul><ul><li>MANAGEMENT </li></ul><ul><li>ie:music </li></ul><ul><li>19 Management </li></ul><ul><li>ATC </li></ul><ul><li>Modest Management </li></ul><ul><li>Supervision </li></ul><ul><li>Frontline </li></ul><ul><li>Nettwerk </li></ul><ul><li>FAN FUNDING </li></ul><ul><li>Bandstocks </li></ul><ul><li>Pledge Music </li></ul><ul><li>Sellaband </li></ul><ul><li>Slice The Pie </li></ul>
  • 27. working in the music business <ul><li>Investigate sectors within the industry </li></ul><ul><li>Look for internships and work experience </li></ul><ul><li>Look for relevant part time work </li></ul><ul><li>Consider vocational qualifications </li></ul><ul><li>Help grass roots artists - in at the deep end </li></ul><ul><li>Write about music - student press, blog etc </li></ul><ul><li>Network, network, network </li></ul><ul><li>Keep up to date with the industry… </li></ul>
  • 28. keep up to date with the industry <ul><li>CMU DAILY </li></ul><ul><li>Free to subscribe </li></ul><ul><li>www.theCMUwebsite.com/subscribe </li></ul><ul><li>newsblog.theCMUwebsite.com </li></ul><ul><li>www.unlimitedmedia.co.uk </li></ul>

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