Entertaining Music Analyst Bob Lefsetz made a point in a recent post which all emerging artists/bands should take a look at. He writes about how Live Nation (very large concert promoter) is making deals with major (established) artists such as Madonna, U2, and more recently Jay-Z.
His point is that no one is investing in new artists. These deals are done to milk as much out of them (major acts) as possible while they still can. New artists will be able to break out in the new music business he claims, however, it will be much more difficult that in the past. Attaining arena status will become more of a challenge going into the future.
He does have hope though. The internet is an emerging artist’s friend. People may steal your music for awhile to come, but it can grow your live audience and give you opportunities to sell a lot of merchandise. You will have to figure out a way to monetize your relationship with your growing fan base. Be thankful they actually care about you. Remember, they have so much choice.
“To build his eponymous record label, David Geffen signed three of the biggest stars in the universe, Donna Summer, Elton John and John Lennon. The first two acts’ albums stiffed outright. Lennon’s was headed for the dumper, but he was unfortunately killed. It wasn’t until the label signed NEW acts that it truly became successful. Guns N’ Roses built Geffen Records, that’s what got Mr. Geffen his half a billion dollar check. If you want to get rich in the music business, you’ve got to invest in the NEW!” -Bob Lefsetz
Read Bob’s Full Post ——->here