Music is a language we all understand, regardless of our racial or geographical background. It’s an industry that has room for all of us, whether you’re an artist, a producer or a diehard fan. There are millions of songs in the world today, categorized into different genres like Rock, hard Rock, Classical music, punk and many others. But have you ever wondered what goes in to music recording? Behind every music track that you’ve heard as you pass by the grocery store, or even listened to in the comfort of your room, there is a recording label associated with it. You might have had of successful music companies out there. I bet that you’ve had about Warner music for instance, an American recording company boasting millions of records over the years and revenues running into billions of dollars. Music recording is an established, well- paying venture. Perhaps you’ve been thinking of starting your own recording company. In this article, we have pieced together all you need to know.
The best recording companies in the world today started somewhere and a majority started with pretty simple ideas. Even before establishing your label, you need a firm idea of what you want. First, choose your genre. Being a specialist is better than trying to be a Jack of all trades! It will help you establish all the structures needed to attract the best in that genre. While choosing the genre, you should be dictated by the market’s preference. The market should be already in love with that type of music and finding top notch artists will be easy.
Make a detailed business plan
The business plan should outline your financial projections, marketing tools and every other production procedures you hope to introduce in the company. The plan will help you to identify business areas that will require more attention than others, as well as help in actual budgeting of funds. It will also help a great deal in case you have to borrow funds from financial institutions. Next, you need to acquire all recording items required including gadgets, software, CDs, online stores as well as walk-in stores that will sell your company’s music.
There are a couple of requirements that apply across the board. First, one must acquire a business permit from the authorities. Next, register the business for tax purposes. It’s important to satisfy these legal conditions before commencement production, to avoid hefty court fines and the negative publicity that comes with such a process. Your label could be obliterated this way, even before it stands on its feet.
Marketing of your company
Every successful recording company must have its own marketing strategy that is competitive, unique and one that is focused on the long term. A marketing advisor with some industry experience would be very helpful in this. For instance, they could organize distribution as well as sell your company to artists already established as well as incoming ones. It’s paramount to look professional and prepared if your new company is to attract the best. They would want to deal with someone who takes their music careers seriously.
Bring in the artists
This is perhaps the most important stage of the starting process and one that has a major bearing on your company’s success. The musicians who sign up should be preferably a mix of established ones and incoming ones. To recruit the best, you could visit local clubs featuring performances by raw talents or go online. Some artists have been noticed online through websites like YouTube, after uploading their music. It’s also important not to cut out people just because they are not performing very well during the early stages. All it takes is a single hit that might well put your company in the limelight.
Starting a recording company is not always an easy task but with the right resources, perseverance and an eye for fresh talent, there are no limits to greatness. You need to take advice from those with more experience in the industry. If others have started small and made it big, why not you?