Labels aren’t doing very well at the moment. In fact, they’re darn right horizontal on their deathbeds.
People don’t want to pay for music anymore.
Children are being sued for copyright infringement.
Every digital music startup in the last three years has flopped.
It’s grim.
Yet there’s never been a better time to start a label.
Go ahead, sign a few acts – no one else will.
Nobody expects an advance or a fat tour bus. It’s budget airlines all the way.
Invest in talent while it’s cheap and ubiquitous.
Don’t know how to do it? Plenty of executives out of the job. Go talk to one.
Four tips to get you started:
1. Quit your day job. Nobody will take you seriously if you’re doing something else 9 to 5.
2. Stick with what you know. If you lack people skills, avoid public relations. Focus on your strengths and, when you can, develop or outsource your weaknesses.
3. You’re in business. Act that way. Get organized. Lots of stupid people own hugely successful businesses. You too can create a successful business.
4. Pick great acts. Treat them well. Work hard for them and they will show you returns.
Music is a safe bet. There will always be money in it.
Now go make some!
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