Mission Statement• Dream Chasers is an online video production team that travels around the UK searching for the hottest urban music talent with nothing in hand but a video camera.• The aim is to have our own record label to record music for a select few of the artists, selected by the viewers.• I’m a great believer in giving a chance to the talented but less fortunate to get noticed.• I have chosen Dream Chasers (DC) because I am fully confident with my understanding and the powers of the Internet and music industry and also how many people use it. Although the idea has already been brought to life, I think the idea is great as I’m a great believer of giving those talented a chance.• There are many ways my production company will succeed, for example: the majority of people that use the internet compared to people that watch T.V, there is not much competition, people are always growing and becoming more interested in making music, we travel to your desired location to film so everyone has a chance and the more people that are interested the more known the company will be.
Product Profile• Dream Chasers T.V is a music channel based on YouTube, that travels around UK, recording the best urban music talent and sticking it on YouTube and the Dream Chasers website for the world to see.• This is an idea that could change the music industry and have an impact on so many peoples lives. Everybody deserves a chance yet there’s always something holding them back from their dream, whether it is travel, the lack of money and no internet ect.• The aim is to find the most unsigned talent, starting from the UK and expand globally finding more unsigned talent. Once the team have found enough talent we would like to start an indie record label for the artists to release their own music. This would require a bigger budget to employ music producers to produce music for the artists, build a studio and buy the right equipment.• This will be the main way of making money, through YouTube adverts, shows and selling records from the artists.• The general audience is 16-25• Dream Chasers appeals to the target audience as this is the general age that people are interested in making music, listening to urban music and still ambitious to pursue their dream.• After doing some research I have found one other competitor, being SB.TV (Smokey Barz T.V). Founded by 20 year old Jamal Edwards on 2nd November 2006 and was active from 25th August 2010. Jamal has a strong team of 5 to help run the multi million pound Music Company.• Also in February 2011, SB.TV launched their own music label Just Jam who is an imprint of Sony RCA. Jamal has also signed East London MC, Maxsta.
Industry Research• After doing some research on record labels, my first choice was of my favourite label, G.O.O.D Music, which is owned by Kanye West. G.O.O.D Music is also owned by Def Jam, who is owned by Mercury Records, who is owned by Universal Music Group .• Def Jam have signed many artists who make different types of genres of music, mainly urban but some rock, RnB and pop. Some artists like Jay-Z and Kanye West have made their own labels however, like RocAFella Records and G.O.O.D Music.• Both record labels are in good places, with being a part of Mercury Records, the artists that have signed in to each label, for example: Rihanna who is signed to Def Jam or Big Sean who is signed to G.O.O.D Music. These artists are constantly working hard to put out new music and are releasing albums frequently which is generating more money for the artist and the labels.• G.O.O.D Music also have their own album out featuring every artist signed to the label named ‘Cruel Summer’ and rumors have spread that a ‘Cruel Winter’ album is on its way.
Strengths• •There are many strengths within my company, for example, how we don’t have much competition. This is good as it brings an audience to us. This is the most important this as they are all customers, which is also a massive strength for the record company.• •Another strength is the artists signed on to the label, this is a strength as every artist signed to the label is making the company money.• •I want every artist signed to the label to have one style in particular, this will make us stand out and make us unique in the music business. Although this is a well known factor within the music business, I would like to bring something new and fresh to our audience.• •This would include: high fashion clothing, writing from a whole different angle when it comes to lyrics, for example the truth behind the scenes of the artists’ life’s. I feel this would have a big impact on the audience and also to other artists and labels. Music how changed a lot over the past couple of years, less artists are writing about their personal experiences and more about bragging on a track. The saddest thing about it is, most of it is made up, just to please an audience, which isn’t what music is about.• •If we could become part of a conglomerate that would be a huge strength as we have someone to help protect and promote us.
Weaknesses• •There are many areas in a record company that all need to be covered, and all need to be covered by highly skilled professionals. For example:• •Producers – Production can make or break a track. Especially if the vocal side of the track is of goof quality.• •Not enough concerts/shows planned. This is a big weakness as it has a huge affect on the artist and labels income.• •Musics major labels were slow to change from CD format to digital format• •Some artists are happy with the fan base they have and they dont strive to reach new followers. This ends up hurting the whole industry.
Opportunities• •There are many opportunities within a record label, they include:• •New customer segments• •Retiring competitors• •New Technology• •Arising talents
Threats• The first threat is the competition, whether it’s artist competition or record label competition, regarding an artist that has a bigger media buzz or a record label that can offer more to the artist and audience, regarding music production, album artwork, marketing, profits ect.• One threat is online music piracy. This is one of the biggest threats as it means the label and artist isn’t making any money for the music released.
RocAFella Records Def Jam Recordings G.O.O.D Music Mercury RecordsUniversal Music Group
USP’sSome USP’s within in the record company include:• Company style – this is the way every artist signed to Dream Chasers dresses. It’s a sign to show the public and audience who we are, what we’re about and where we’re heading. It also attracts an audience to us, for example the way we dress is very high fashion, wealthy vibe, with a ‘we’ve come from nothing, now look what we’ve achieved from chasing our dreams’ twist.• Authenticity within the lyrical content and the artists. This is important as I believe it’s important to feed the public with the truth instead of feeding them lies and things they want to hear. The world is full of it and if I have the opportunity to be a part of it and make a change and make it trendy for truth to be told, then I have already succeeded.• Vlogs – I feel this is important as it gives the audience a peek in to the artists mind and life. With cameras going behind the scenes of the lives of the people they look up to, I think this will have a great advantage as the audience will feel more of a personal connection with the artist.• Vision – I believe having vision as powerful as my team, we have the potential to take the world by storm. Everyone and every company has started from a tiny spec of sand and grown in to something amazing, I believe this Is what we are about and we are about to prove it to the younger generation.
Product/Company development• We are seeking financial investment to help start our company as I don’t have enough myself. My vision of where I’m about to take this is yet to be seen and with your help we can bring this to life and change the next generation for the better.• Starting from travelling up and down the UK but not having the financial help I need has definitely had some set backs, from travelling up and down the UK, to filming and editing footage myself. Now my aim Is to build a team of one professionals fit to make Dream Chasers a successful business. Once we have lift off we will start the record company, signing the best artists we have met along the way. We will have tolook at the best in the business to stand out from other record companies and artists. This will include:• Personal managers• Producers• Marketers• Studio• Technicians• Promoters• A&R Coordinator• A&R Administrator• Publicist• Artist Relations Representative• Advertising Account Executive• Salesperson
Investment• You are investing in the future of music, a label that’s going to be known for putting out ‘real’ music, music that has meaning, music that has raw lyrical content that a lot of the music industry lacts.• Record labels are succeeding purely because the audience like the look/style of the artist. A lot of the time the music means nothing yet the audience doesn’t realise because they’re too wrapped up in liking the artist’s appearance. However this is exactly what a record label wants because it sells records.• I would like to have that affect, but also sell good quality music. I feel over the years the quality of music has got worse yet the public doesn’t realise it.• I would like to ask for £200,000 to start my company for 20% of my company.