There have been many misconceptions and questions surrounding the modern music business. With so many ways to distribute music and media, it has been increasingly questionable how to make it profitable. I have found three truths that seem to hold true for recent music business.
1. Do-it-yourself is not where the lucrative as we’d like to think. As much as we would like to idealistically believe that anyone can to music business all by themselves, this is not that effective. While major established artists do have the power to be a little more exclusive, this does not hold true for newer artist. Technology does make it easy to reach a wide audience, but there still is a need for a team to take care of the marketing, distribution, and capital functions of a new artists. Sorry,the labels are not going away….yet.
2. Facebook is as important as email. Who would of thought that a single web company would become a form of communication. I can not tell you how many times I have been “Facebooked” and someone is mad at me because I have not responded. None the less, it has become an increasingly important form of communication for artists and labels to communicate critical information.
3. Official websites are important again. For a while there, it seemed that websites for artist were being replaced by Myspace and Facebook. Now more than ever, data collection is key the successful marketing and merchandising. It is becoming fundamental that artists have the official home grown website again. Music fans are looking for official sites for reliable information.
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