The Essentials of Music Management

블로그관리대행 A successful music manager, like the fifth Beatle Brian Epstein, can have a huge impact on a band or solo artist’s career. They can identify talent and work like crazy to help them break through to the next level.

블로그관리대행

Often, they receive a percentage of the income earned by their artists. They also handle much of the administrative paperwork involved in this industry.

Artist Development

Musicians need to develop the skills required to build a career in the music industry. This includes vocal training, songwriting and instrument skills. It also encompasses image and brand development, music video production and live performance. This is an area where many musicians get left behind.

It used to be that a music manager would find developing artists by word of mouth, or through the recommendation of a singer/band or another artist manager, record label executive, booking person or other professional in the industry. This is still the case in some cases, but in other situations the developing artist must create a buzz about themselves through their own efforts and start to attract professional management.

The old artist development deals that were once common with major labels involved an investment in the act for the long term, often with significant cuts of their live and publishing revenues and right of first refusal clauses, in exchange for a commitment to help them develop. Today independent artists can take a similar approach and shave years off their climb to the top through a combination of talent development and business acumen.

Career Planning블로그관리대행

Career planning is essential for musicians who intend to work seriously in the music industry. It helps them set priorities and plan ahead, and to navigate the many disappointments and uncertainties that can mar any musical project. It also demonstrates that musicians are committed to their work and can take the long view, looking past momentary gains or losses.

For example, an artist manager may network with partners that can boost a musician’s profile, and suggest new directions that can help the artist move in a more lucrative direction. They may also make difficult decisions, such as deciding whether to continue a project that isn’t delivering the desired financial results.

Business experts with advanced business skills are invaluable to the success of artists and recording companies. Obtaining a master’s degree in business administration with a concentration in music management can help professionals achieve career goals in this rewarding field.

Negotiating Contracts

Contracts are an important part of any business, but they’re especially critical in the music industry. A good manager can help an artist avoid one-sided contracts that could restrict their career goals. Often, this involves seeking outside counsel or advice.

Music managers are passionate about music, but they also understand the business side of things. They spend a lot of time following leaders in the industry, reading publications, attending conferences and so on. They know the ins and outs of the business and can use this knowledge to inform their clients’ decisions.

A good manager can help an artist negotiate a better deal with a record label, for example, by showing the label that they can deliver on a reliable revenue stream within the contract term. A good manager will also negotiate for a reasonable advance, and ensure that the label does not take unlimited deductions prior to calculation of royalties. This could significantly reduce the artist’s overall income. Most music managers work on commission, which means they receive a percentage of their client’s revenue.

Marketing and Promotions

A good music manager must understand both the technical and creative aspects of promoting an artist. They must know how to effectively promote their client through various methods like social media, radio, television, and print ads. They must also have the ability to keep up with the latest trends in the music industry and find opportunities for their clients to connect with potential new audiences.

They must also be able to see the big picture and keep track of numerous details, from ensuring the artist has all of the equipment they need for a music video shoot to deciding which brands might want to work with them in the future. The job can be incredibly stressful at times, but a good music manager is comfortable taking on pressure and working hard towards success.

For those who are interested in starting a career in music management, it’s a great idea to seek out internships and other opportunities to gain hands-on experience. This can give rising professionals a vantage point on the industry that they may not have otherwise had and help them get to know established industry professionals.

Financial Management

The music industry has a unique framework for financial functions. Understanding who gets paid what and when can be a bit dizzying. This session will examine some of the essentials, as well as tips that can help musicians avoid costly mistakes.

A really successful musician treats their band like a business. They have a dedicated bank account that all income goes into, and they set up specific times to disperse that money to the different members of the band. This helps prevent bands from spending their newfound windfall on random things before investing it back into the business where it belongs.

NAMM U Online’s Financial Management for Music Retail training is led by industry veteran Alan Friedman of Friedman, Kannenberg & Co. Friedman and his team specialize in providing accounting, tax and consulting services to the musical products industry, servicing music retailers, manufacturers, music schools and studios, and recording studios. This program is provided free of charge as part of NAMM U’s mission to provide educational opportunities that support the music community. Please see the legal disclaimer for this and other NAMM U educational programs.