In case you haven´t noticed, the music business is changing. CD sales have been declining for years now and the whole industry has been scrambling to figure out what to do in order to successfully adapt to the way the music industry is changing. Seth Godin, one of the most knowledgeable authors on business and marketing , recently wrote a great blog about the music industry in which he really hit the nail on the head regarding the future of the music business. I´m paraphrasing, but he basically indicated that the music business as we know it is over. The record labels have had a great run but the party is over, so to speak, at least in terms of traditional CD sales being the main source of revenue for artists and labels. Here´s a quote from the article, "Hey, guys, I'm not in the music business and even I've been writing about this for years. I even started a record label five years ago to make the point. Industries don't die by surprise. It's not like you didn't know it was coming."
It´s pretty obvious things are changing and both labels and artists need to stay abreast of where current opportunities are and where the industry is headed in order to succeed. In the wake of the death of traditional record labels there are many opportunities for musicians to succeed and now, perhaps more than ever before, the power really does lie with you, the musician. It´s clear to me that the goal of getting a record deal really has become a false idol. There are a myriad of ways to make money and keep moving forward with your music career that it really makes no sense to not pursue other avenues for both getting exposure and making money from your music. The great news is that you don´t have to rely on other people or companies to move your career forward. If you have the drive and will you can take steps every day that will improve your career. And for me at least, I´m happy as long as I´m progressing a little bit every day. Conversely, I start to feel pretty crummy if I´m not moving toward my goals.
Here are the three main sources of revenue and exposure ALL musicians can pursue, regardless of where you live or what stage of your career your in.
1) Revenue from CD sales,digital downloads and merchandise
2) Revenue from performing live
3) Revenue from music licensing deals
If you want to make a full time living from your music you should be pursuing all three of these avenues and taking steps every day to grow each area of your career.
The third category, music licensing, is a form of revenue that is growing and becoming a much bigger piece of the revenue pie for both artists and labels. There are many more opportunities, in terms of places to license music, than ever before. And it´s a great industry because there are absolutely no barriers to entry in terms of age, location, image, etc... If you write and record good music, you can find a place that needs it.Aaron Davison is a Berklee College Of Music Alumnus who has been working in the music business for over ten years. His songs have been heard on a variety of television shows and he has performed live throughout the midwest. Visit http://www.howtolicenseyourmusic.com for more information on getting your songs placed in TV and Film.
