One of the greatest issues anyone starting a music business needs to consider is the process of managing, planning, recording, promoting and distributing products. But above all these, one of the most important aspects of the business should focus on how to make money.
What is surprising to me as a music business consultant is the wide spectrum of thinking that tends to permeate this industry. Some have an unrealistic, almost fantastical type of thinking that says “I will get signed and be a millionaire in 1 year”, while the other extreme are those who do not even think of making money in the music business. No matter which side of the fence you stand on, you need to make money in order for you to fulfil your ambitions as an artist or label owner.
Unfortunately, studio time, promotion and distribution are not free. So what do you need to consider if you want to make money in the music business.