So, you want to start your own record label. Like opening a bar or buying a sports team, this is always something that crosses your mind at some point in your life (and is possibly voiced after a couple of drinks). But what if you actually want to go ahead and start a musical revolution? We can’t promise you’ll be signing Madonna any time soon, but here’s some important things to consider during your afternoon daydreaming session.
- Why are you starting this label?
What exactly is your motivation behind starting up your own label? It’s a whole lot of time, money, and effort to waste on something you’re not entirely sure of, so staking out a clear idea of why you want to do this is pretty important. Is there a musical niche you want to exploit? Will you be focusing on a particular genre, or open to everyone? Will you favor bands with cult potential or artists who are more likely to end up in the top forty? And is there a market for the kind of music you want to get behind? If not, can you create one?
- Build a Plan
Right, so, you’ve answered the questions above and are confident that your music is going to blow the world’s mind. But you can’t just hang a new sign on your office door and hope for the best. You’re going to need a bunch of investors, and to convince them you need to draw up a business plan that defines how and why your record label is going to be successful. Think about things like how you’re going to go about find talent, what your marketing strategies will be, and how hands-on you’ll be as a label with your artist’s music. Demonstrate that you understand the risks and the rewards of your venture.
- Work out the Costs
Fact of the matter is that this is going to cost you a hella lot of money, and you really need to work out how much before you begin. Ending up with a half-built record label isn’t going to attract any artists or any investors. As a label, you’ll need to either have a recording studio of your own, or be able to budget for recording time in a reputable one. You’ll also need a lot of money for marketing your artists if you intend for them to go anywhere, as well as paying people like roadies and session musicians for your bands. And don’t forget the administrative costs too — things like paperwork, hiring offices, copyrighting music, running a website, and office supplies.
- Legal Stuff
You’ll also need to familiarize yourself with the legal workings of the music industry in your country. Boring? Probably, but vital if you don’t want to get hammered further down the line. Think about how you’re going to draw up recording contracts and licensing deals with your artists, so both of you are getting a fair deal. Then there’s copyrighting, publishing deals, trademarking, and a whole bunch of other stuff that you’ll need to get your head around sooner rather than later if you want to make sure neither you nor your artists wind up getting ripped off.
- Put Together Your Team
Sure, it might be tempting to just hire people you know who have a vague acquaintance with the industry, but you need to nail down a number of vital members if you’re going to make this work. Aside from producers, sound engineers, studio musicians and mixers for the actual music side of things, you should probably think about getting a lawyer on board to make sure everything is legit. You’ll also need people to handle the more pragmatic jobs like administration, paperwork, and marketing. Whether you want talent scouts is up to you, but they’re a good way to keep your eye on what’s going on across the country without having to troop out there yourself. When you’re starting out, it’s worth working out if anyone can double up their work — can your producer also write an amazing press release? — or hiring people on contract work.
- Get Ready to (social) Network
Where once networking was the reserve of businessmen at robust weekends away, every company now has to have a social media presence to get anywhere. Contact local music magazines and blogs, and offer them free tickers and interviews. Get your name out there, and be prepared to hire someone to take on your Twitter and Facebook pages alone. Establish a good reputation with a few reputable journalists who’ve got an interest and an audience for your kind of music, and get your name out there. Good luck!
How to Start Your Own Record Label
So, you want to start your own record label. Like opening a bar or buying a sports team, this is always something that crosses your mind at some point in your life (and is possibly voiced after a couple of drinks). But what if you actually want to go ahead and start a musical revolution? We can’t promise you’ll be signing Madonna any time soon, but here’s some important things to consider during your afternoon daydreaming session.
What exactly is your motivation behind starting up your own label? It’s a whole lot of time, money, and effort to waste on something you’re not entirely sure of, so staking out a clear idea of why you want to do this is pretty important. Is there a musical niche you want to exploit? Will you be focusing on a particular genre, or open to everyone? Will you favor bands with cult potential or artists who are more likely to end up in the top forty? And is there a market for the kind of music you want to get behind? If not, can you create one?
Right, so, you’ve answered the questions above and are confident that your music is going to blow the world’s mind. But you can’t just hang a new sign on your office door and hope for the best. You’re going to need a bunch of investors, and to convince them you need to draw up a business plan that defines how and why your record label is going to be successful. Think about things like how you’re going to go about find talent, what your marketing strategies will be, and how hands-on you’ll be as a label with your artist’s music. Demonstrate that you understand the risks and the rewards of your venture.
Fact of the matter is that this is going to cost you a hella lot of money, and you really need to work out how much before you begin. Ending up with a half-built record label isn’t going to attract any artists or any investors. As a label, you’ll need to either have a recording studio of your own, or be able to budget for recording time in a reputable one. You’ll also need a lot of money for marketing your artists if you intend for them to go anywhere, as well as paying people like roadies and session musicians for your bands. And don’t forget the administrative costs too — things like paperwork, hiring offices, copyrighting music, running a website, and office supplies.
You’ll also need to familiarize yourself with the legal workings of the music industry in your country. Boring? Probably, but vital if you don’t want to get hammered further down the line. Think about how you’re going to draw up recording contracts and licensing deals with your artists, so both of you are getting a fair deal. Then there’s copyrighting, publishing deals, trademarking, and a whole bunch of other stuff that you’ll need to get your head around sooner rather than later if you want to make sure neither you nor your artists wind up getting ripped off.
Sure, it might be tempting to just hire people you know who have a vague acquaintance with the industry, but you need to nail down a number of vital members if you’re going to make this work. Aside from producers, sound engineers, studio musicians and mixers for the actual music side of things, you should probably think about getting a lawyer on board to make sure everything is legit. You’ll also need people to handle the more pragmatic jobs like administration, paperwork, and marketing. Whether you want talent scouts is up to you, but they’re a good way to keep your eye on what’s going on across the country without having to troop out there yourself. When you’re starting out, it’s worth working out if anyone can double up their work — can your producer also write an amazing press release? — or hiring people on contract work.
Where once networking was the reserve of businessmen at robust weekends away, every company now has to have a social media presence to get anywhere. Contact local music magazines and blogs, and offer them free tickers and interviews. Get your name out there, and be prepared to hire someone to take on your Twitter and Facebook pages alone. Establish a good reputation with a few reputable journalists who’ve got an interest and an audience for your kind of music, and get your name out there. Good luck!
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