Top 5 Myths About Music Business

If you’ve been in the entertainment business you’ve probably heard some long stories. Below is a list of some of the top beliefs about the music business.

1. People in the music business will help you with their heartfelt kindness.

Facts:

The music business is called music business for a reason. This is a business that sells music. Businesses are in business to make money. They are not in the business of making ART, although they will sell it. You may find a handful of good Samaritans willing to help for free, but in general, if helping does not benefit the other party, they will not help.

“People (do not count loved ones) will not help you if they think your art will make them money. They will not help you if they think your art will not give them money.” -David Nagar, Esq. From the music business explained in plain English-

2. With the economic downturn people no longer buy music

Facts:

People are buying music, but they are not buying it the way they used to. CD sales may be down but single track sales are up! If you’re still unsure, just check iTunes sales records. According to the report, Apple has sold 10 billion and is counting!

3. Music superstars have a lot of money and they make money.

This is one of the biggest beliefs in the entertainment business. When you see Sean Kingston or Lady Gaga on television you will think they are living a good life, but how much money he / she actually brings home really depends on the terms of their contract obligations as well as their money management skills. . Simply put, if you spend more than you can afford, you will sooner or later break down.

Examples needed:

MC Hammer

Marvin Gaye

Michael Jackson

Willie Nelson

Tony Braxton

Billy Joel

George Clinton

Isaac Hayes

Jerry Lee Lewis

Ron Isle

Need now The list goes on.

The fact of the matter is that all these artists have seen the ups and downs of the music business. Even Michael Jackson, the “king of pop”, had a hard time with his money. No “superstar” is exempt. Maintaining a “superstar” lifestyle requires good money management skills.

4. You can become an overnight celebrity in the music business.

This is one of the most common beliefs about the music business. People believe that you can sign a record deal and then all of a sudden you can magically get on a magazine cover and receive Grammy Awards. All this talk is nonsense. Achieving “success” in the music business at the end of the day requires the right amount of leg work, dedication, passion, perseverance and strong networking relationships. No one succeeds overnight however, some people have achieved their goals faster than others. Artists like Wiz Khalifa, Kanye West and Eminem spent years building their reputation and brand to become the people they are today. That’s why it’s important to work smarter and not harder in the music business.

5. Talent Trumps work ethic

In today’s music business, talent still counts but work ethic counts for more. Extraordinarily talented person A person with normal work ethic will not act like a person with exceptional work ethic and average talent.

Strong work ethic, not often, means you can stay relevant which is of utmost importance in the music business.

Why?

One word Marketing. Being able to deliver consistently high quality to the consumer is paramount. This is where work promotes ethical talent. In the words of Charlie Sheen, the person who is able to consistently deliver a satisfying product to the consumer is the winner! Because of our increasingly shortened meditation periods, constantly having someone or something on our face helps brand a product, service, or person. After all, people get paid as a result!

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