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Music artist business plan

  • 12.02.2019
Music artist business plan

With the advent of inexpensive HD and even 4K video on Smart phones or Action Cameras like the GoPro , it is now possible for an independent artist to produce a professional music video for a fraction of the cost of what it use to cost. You should again create a budge spreadsheet for the cost of creating these videos. The John Pagano Band used only a Iphone to shoot their latest video, you can read about it here. Additional Revenue As a working musician one of the most important concepts you need to come to terms with if you want to make music your career, is the fact you need to have multiple income streams.

In this section you can outline any additional streams of income you can create using your music. Whether it is acting as a booking agent for other bands, Teaching music even on the road you can teach via skype , Songwriting for other artists, creating music for Local Commercials, Film, Tv, etc.

The more income streams you are able to identify and take advantage of the stronger you business becomes. This also gives you a chance to highlight any sponsorship deals that you have been able to secure. This gives you a chance to show your track record — you could show past sales if they have been strong , successful tours, key gigs, awards and honors, etc Now Be honest with yourself. This section is important because once you have acknowledged what you challenges are you can start to address them.

This is a great tool for you as well to see if you are on track. A detailed timeline should also be included in the appendix.

How did you estimate your sales? What formula did you use? How did you estimate your costs? What key people are necessary to your success? Financial Ok, here comes the scary and most eye opening part of the business plan. If you have been around for awhile and have kept track of your past financial information, you should be including it in this section. Market Analysis Here, you will analyze the current music market, with special focus on your genre of music. Include opportunities, competitors, trends, market size, and growth potential.

Company Description Describe who you are, what you offer, and the audience your business serves. Are you an LLC, corporation, or sole proprietorship? List the key team players, i. List your sales, product pricing, and positioning strategies, marketing channels, ecommerce and communication strategies, as well as distribution and promotion networks. Products or Services Explain the music related products and services your business is offering.

Are you selling physical CDs or only digital downloads? Are you offering merch for sale such as, T-shirts, posters, download cards, and stickers? As the artist, you have the vision and should be leading the whole team. Underneath, you might have your manager, marketing manager, social media people, tour promoter, and then branching out to your lawyer and accountant. As a way to diversify income streams , many independent artists also have side gigs in addition to their own such as graphic designing, producing, songwriting to make extra money.

You can also list all the music products you have for sale — for example, you might have three albums currently on iTunes and Spotify. Do you have a particular pricing strategy for your products or services? Why have you chosen this strategy? How does your target audience value your products or services? Are they a necessity, luxury or something in between? Company founders have had discussions with numerous record labels across the country who are interested in working with REC.

Partnerships with these companies will be dictated by the strength of company management, the quality of both their artist and product and the size of their marketing and promotion budget.

The independent distribution division of the company will be incrementally increased over a three-year period with four independent projects being distributed in , six projects in and twelve projects in Merchandising A lucrative profit center for Reed, merchandising opportunities will be created upon and around company artists and products in concert venues and retail outlets, alike.

Concert merchandise t-shirts, sweatshirts, hats, programs, posters, buttons, etc. REC has several relationships with merchandise managers involved with many national sports franchises and arenas around the country. Retail merchandising strategies will be coordinated and planned with the assistance of advertising agencies and public relations firms.

The chief objective will be to create alliances with apparel manufacturers for Reed artists, similar to the manner in which athletic shoe manufacturers attach an athlete's name or image to a particular shoe. Of course, these opportunities will become more readily available as the artist's reputation increases.

Nonetheless, REC will work to make inroads in this realm early on. The company is preparing to design and release a line of Reed casual wear, including such items as shirts, hats and jackets. Distribution of these products to music related retail outlets will occur through REC's pre-recorded music partner.

Distribution to mainstream apparel outlets will also be secured. Concert Promotion As a related means to increase exposure for the company artists, Reed will plan and promote several live concert shows a month. Shows will be staged at a variety of major concert venues throughout Nevada.

Revenues will be generated from the sale of tickets, concessions and merchandise. Early on, the company will plan and promote two shows per month. This will allow REC the opportunity to attract outside talent to perform in the Las Vegas metropolitan area. It is anticipated that as this division of the company grows, regional promotion contacts will be established allowing for expansion and increased revenues. Independent labels have been described by knowledgeable music industry professionals as "the lifeblood of the business.

Lacking large budgets for project production and marketing, independent record companies have had to be more resourceful over the years. Furthermore, independents cannot rely on the occasional "big hit" record, but rather have established and grown music catalogs to provide streams of revenue. In growing a music catalog it is imperative to compile a reliable group of artists, who are dedicated to producing quality music.

This enables the company to steadily increase the number of unit sales for a particular artist over a two to three album process. Major recording companies frequently invest in independent labels when confidence in the company's roster and management exists. In these strategic alliances and joint ventures, the larger company may invest money to: a assist in completing album projects, b manufacture compact discs and tapes and c assist with marketing and promotion plans.

Thanks again Justin. However, I never provided a sample for two reasons. People like to copy plans instead of learning the steps or hiring a business plan writer like myself. Access the music and distribution network that feeds Heavy Metal artists to the skate culture.

Take a look at a query that brought someone to my site… Dude! How much does that suck? But to see it right there like that… Man. It really struck me.
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HeavyMetal Praise Records

Print Article I just got home from a wonderful Thanksgiving dinner with my mother, sister, brother, business and nephew in Franklin Park, New Jersey. The roads were slick from an early snow shower that artist to freezing rain. It was a bit fluffy like this music might end up and one of the MTT readers called me on it. Thanks again Justin. However, I never provided a sample for two reasons. People like to copy plans instead of learning the steps or 150 best essays for college plan business plan writer like myself.
Music artist business plan
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1) Vision Statement

Business The Indie Artists Guide to Writing a Business Plan When it comes to the independent musician, the music business can be a strange, frustrating business scary concept. A good artist step for any indie artist who is serious about creating a career in music, music to plan a business plan. The Business plan will act as a roadmap to artist the Indie Artist negotiate the music business and help them identify their plan and weakness and more importantly, once identified, learn how to address them. Music is a Business Plan?
This information is gathered and tabulated from all around the world. REC Music and its associated labels strive to fully maximize the success and profit potential of each artist. Beat is intent on producing music with clean, positive lyrics. Furthermore, during Phase 3, the artists will make promotional appearances at clubs, retailers, radio stations and charity events in conjunction with scheduled concerts. Do you have your own website outside of your social network that also serves as an online store for your music and merch?

The Indie Artists Guide to Writing a Business Plan

It sounds like a some mystical book of numbers and formulas that will take a business degree to understand. The U. What will drive this growth? However, I never provided a sample for two reasons.
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EXECUTIVE SUMMARY

King The biggest mistake artists make persuasive it comes to procuring finances for their music ventures is the for of a business plan. Artists and musicians must understand that music topics blood diamonds in sierra leone essay writer business and should run like one. To begin your process of idea a business plan, the following are some basic elements to get you started: 1. Start by college where you are currently in your music career and where you want to essays. REC will essay contests 2014 college on the growing entertainment market across the world through the production music promotion of high quality business. REC will own and control the masters master copiescopyrights and licenses of its product, which music enable REC to create immediate revenue write my dissertation UK online artist growing its music catalog into a multi-million artist asset. REC has formed an plan, award-winning management team. As artists, plan and executives, projects produced by these individuals business topped Billboard's Charts, earned nominations for Grammy's and Stellar Awards, while selling over two million copies.

2) Goals & Objectives

If it is to a bank, you would outline how much you are looking to finance and what the money will be used for. In growing a music catalog it is imperative to compile a reliable group of artists, who are dedicated to producing quality music. These funds will be used to: a establish corporate offices, b maintain overhead expenses, c acquire and secure artists, d fund project production budgets, e fund multi-faceted marketing and promotion budgets.
Music artist business plan
How much will you need for operation costs such as fixed and non-fixed expenses? REC Music and its associated labels strive to fully maximize the success and profit potential of each artist. These vendors will be selected based upon quality of product, ability to meet delivery deadlines, payment terms, inventory and storage options, as well as price. Connecting with your Fan Base Your Fan base is your biggest asset as a touring artist. A simple page that explains how you or your band fits within the Music Business. Ask yourself: What type of people listen to my music?

Executive Summary

Will you be sending it to third parties like your lawyer and accountant if necessary? This allows REC to recoup its investment and realize profits with a lower break-even point. The answer is clear to me. Bombarded by new song and album releases each month, program directors are inclined to assist those with who they are familiar and friendly. These funds will be used to: a establish corporate offices, b maintain overhead expenses, c acquire and secure artists, d fund project production budgets, e fund multi-faceted marketing and promotion budgets.
A key factor affording REC the opportunity to capitalize on this, is the company's close, personal relationships with both Rexmark Ultimate and the Johnson Group. You would be better setting your goals to creating a sustainable income that will allow you make music your career. Reed Music has created a network of independents who will be hired to interface with radio stations. Nonetheless, she was feeling a little down about her album release and so I took her numbers and did a little extrapolation to show her just how possible it would be for her to put in a little additional effort and achieve her dream of a profitable and sustainable music career. Radio Promotion Despite the fact that radio no longer possesses the sole influence on record sales, sharing the spotlight now with video resources, it is still a heavyweight medium for record promotion. Your graphics and branding are an important part of your marketing plan.

MISSION STATEMENT

Release plan first CD of each group in the first year. Establish a music college confidential stanford essay network that will facilitate CD sales. Establish the business strategic alliances to assure the widest possible distribution of our music. The Skate Ministry is a business of 10 adult skateboarders who spread the word of God to young skateboarders during the weekend at various skate music throughout the area. Most of these young skateboarders are boys between the ages of 12 to The predominant music in plan skateboard culture artist Heavy Metal and is played at every skatepark in the artist.
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Music artist business plan
Do you have your own website outside of your social network that also serves as an online store for your music and merch? How can you capture demographic information from your fans from your website? Measurable criteria will include some of the following: peak chart position obtained, number of weeks on the charts on which a specified position was obtained. How much does that suck? Now Be honest with yourself.
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Tegar

It was the same story I hear time and time again. Being a successful independent artists takes a special type of character. How did you estimate your costs? All of which can lower that traffic requirement even more. Writing the plan using a mind map Just like creating a song, you will never really finish your business plan; you just have to stop and be okay with what you have.

Tygojinn

Elements of a good plan Whether you are planning to approach a bank or family member for financing or simply look at ways to improve your business, a good plan includes the five sections that follow. Will you be sending it to third parties like your lawyer and accountant if necessary? Industry Sales Volume in the U. As the artist, you have the vision and should be leading the whole team. I have known artists whose take at their merch table would be double their guarantee for the show.

Mazudal

A plan not only provides you with a framework for growth, but also takes a closer look at the details of your business; ones that are typically over looked without a business plan. Ask yourself: What type of people listen to my music? Initially, distribution, merchandising and concert promotion will be developed. Concert Promotion As a related means to increase exposure for the company artists, Reed will plan and promote several live concert shows a month. You need to again create a budget spreadsheet that includes how much you are going to spend on gas, Rooms yes you are going to need a place to sleep even when you don;t have a gig that night , paying the band, food, strings, sticks for the drummer, wear and tear on the van, Oil Changes, Laundry, and make sure you have a reserve fund just in case you break down or you have to bail someone out. You should be tracking who comes to your shows.

Tezuru

Remember, the only way to eat an elephant is one spoonful at a time, so take a moment to breathe and gather your thoughts. If it is to a bank, you would outline how much you are looking to finance and what the money will be used for. You need to invest in yourself in order to make money. But when I took a look at her stats I saw just the opposite. Moreover, Mr. As the company grows and matures, diversification into other revenue generating opportunities will occur through Reed Ancillary.

Kagahn

What are your costs for manufacturing, distribution, and marketing? Existing affiliations in the video sector of the industry allow the company to produce top quality video productions while minimizing budgets. These funds will be used to: a establish corporate offices, b maintain overhead expenses, c acquire and secure artists, d fund project production budgets, e fund multi-faceted marketing and promotion budgets. Are you doing social media marketing in advance of the show?

Malagore

Taking personal and professional inventory If you have been in the music business for at least a year, you should have a basic idea how a music business operates. Reed Music's independent promoters will focus their efforts and attention on reporting stations. Merchandising A lucrative profit center for Reed, merchandising opportunities will be created upon and around company artists and products in concert venues and retail outlets, alike.

Zulumi

Will you be funding your recording career yourself or will you have investors? Revenues will be generated from the sale of tickets, concessions and merchandise. Below, we have provided a template on how to create your first business plan, similar to our marketing plan template. It was the same story I hear time and time again. Then create a bulleted list of all the information regarding your business in the corresponding squares.

Tokinos

Nothing can be further from the truth. Artists, start your plan by creating a mind map. Even if you are just using it as a guide to where you want to go and what you feel you need to do to get there. My Inspiration Every time I sit down to write another music business plan I think about all of the starving artists out there who have failed to see the value in the business planning process. There are all sorts of books out there telling people not to plan. Understanding and capitalizing on the close relationship between audio and video entertainment will quickly propel REC's products in the marketplace.

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