Money making in the music industry is not different from any other
industry. It requires equal passion, dedication and commitment. Many at times, the pay structure of the music industry jobs relate to a percentage of the total deal. It is therefore very difficult to come out with your expectation at the end of the deal. You make it or lose. However you can choose to be hired by someone and be placed on a regular income or charge the person for the activity. To discuss this topic further I will like to group the jobs under these headings: Managers, Promoters, Agents, Record Labels, Music PR, Musicians and Producers.
Managers:
Managers work directly with artists. They agree on a percentage of the income that will be accrued to the artist. There is the need therefore for transparency as how the income is generated.
Music Promoters:
Promoters arrange an event for the artist to perform. They make money on ticket sales for the shows that they promote. What promoters take home out the ticket sales can be arrived at variously. The promoter can take a percentage of the amount after retrieving their costs and the remaining giving to the artist. At another instance, the performers charge the promoter and he pays outright and take all the proceeds.
Music Agents:
Agents arrange shows for promoters and agree on a pre-agreed percentage of the fees from the show.
Record Labels:
This involves earning income through the selling of records. The labels can be your own where you get all the profit after deducting your relevant costs. You can also be use somebody’s label and earn either a commission on sales or be paid a regular salary.
Music PR:
This category embraces radio plugging and conducting press campaigns for the promotion of music. They are most often are about launching. They are paid flat rates and sometimes additional bonus for reaching a targeted threshold.
Music Producers:
They may be hired and paid regularly if they are tied to a specific studio or paid on any project if going about it freelance.
Musicians:
Musicians get their remuneration from royalties, gate fess from live performance, advances, and licensing. There are a lot of revenue streams to benefit from. You only have to monitor the sources very well to make up maximum returns.
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