It’s widely known that Music Business is one of the most lucrative and famous money making business in the world.
Alot of youngsters have ventured into this business and, the outcomes is worth more than success but, the Music Business actually made them to be famous (Becomes Celebrities), ease them from the stress of scavenging for white collar jobs in the city.
In this article, “Music Business – History, Organization & Making Money“, you will learn some basic facts about Music business and you will be inspired at the end of reading this article.
You are going to be informed and as well, inspired about the following subheadings:-
- • Meaning of Music and Music Business
- • History of Music Business
- • Music Business in modern world
- • Three (3) Stages involved in Music Business
- • How To Make Money in Music Business
Let ride on;
What is Music and Music Business?
According to experts, Music is a pleasant audible sound made from the proper combinations of Notes, Voices, Instrumentals and other ingredients that makes music emotional, inspiring, and danceable.
You shouldn’t mixed up the difference between Music and Noise. Music is pleasant while Noise is not.
Music Business is simply the act of engaging in music career to earn a living… Pardon, not just a living but also, fame.
History: How Music Business Started
During the primitive age, Music business is not so that common and accepted as a career but, when the western music industry emerged in 1930s to 1950s according to Wikipedia, the act of recording music replaced sheet music because composing, recording, selling etc are the most essential products of music business.
During the 2000s era, only three music label dominated the Music Business in the world, the three music companies are: (1) Sony Music Entertainment which is owned by a Japanese group, (2) Universal Music Group owned by a French group and (3) Warner Music Group owned by a US group. Apart from these three major Music Labels, other labels are referred to as Independent or Indies Labels.
Live Nation, a subsidiary of iHeartMedia Inc who owned the largest radio station in US, controlled the largest music market for concerts and tours and, they are also the largest music promoter and venue owner.
Music Business in Modern World
Over the years, the music business has drastically improved with both civilization and technological advancements. Although, the music industry is a kind of tedious and complex of organizations and personalities.
Now, we have three types of property created and sold by a Record label.
Three Stages Involves in Music Business
•*1. COMPOSITION: This is the first stage of developing a music business. There must be Lyrics written or composed by a songwriter and other Pieces to aid the song to be sang.
•*2. RECORDING:- This comes after composition and, it includes audio and video making.
•*3. MEDIA:- This is the last… After recording, the results will be made available on the CDs or Mp3s or DVDs which will be sold out.
In Music Business, there are pretty division of labour as follows:
* SONGWRITER:- Composed the songs’ lyrics
* SINGER:- Sing the composed song
* DISC JOCKEY:- Also known as DJ… He/she do song or songs’ mixtape.
* PRODUCER:- Make sounds, beats an instrumentals to the song.
* DIRECTOR: Directs the affairs of the video makings.
* RECORD LABEL:- This is the music company that finances and sponsors the singer and, under agreed contract, the record label owned the music.
* Dancers, Drummers, Saxophonist, Guitarist etc are also included.
* MARKETER: The company or individual that sells and distributes the CDs or DVDs to the general consumer
The Big Deal;
The aim of a runner (let say Usain Bolt) is to win the race right? Did you think it’s because of passion? Yes but, passion is useless when it yields no Profit! The aim of Usain Bolt is to win the trophy or the medal… And, that’s thousands, if not millions of dollars.
In Music industry, their aim is to make money in the business and as well, win awards!
But hey, do you know how these people in the Music industry work together to make money in the business? It’s a lot of hard work behind the scenes tho, but Money stop Nonsense and abolish old pain!
How Do Music Industry Make Money in the Music Business?
#•1. Selling of Media Files:- As mentioned earlier in this article, the music industry consists of many people working together by creating new songs and thereby make money from selling their CDs, DvDs, doing live concerts and show etc.
#•2. Awards:- Some singers and other people in the music industry are often rewarded with cash, car, house, foreign trips and so on.
#•3. Brand Ambassador:- Some people in the music industry are also used by big companies for modelling, Brand ambassador and from that, they (musicians) will realize huge amounts of money!
#•4. Offline Investment:- Some of them invest offline. For example, Kanye West has a clothing brand and same things applied to P. Diddy.
From the Editor’s Desk
Music Business is truly lucrative but, not everybody will make it in Music industry. The fact here is to discover your inner potential before jumping into a career or business.
I hope what you have read here in this article is helpful to you, or do you want to add or subtract from it? I will accept Your views (Commenting) as an important pillar which is backing up the success of this blog.