There’s a statistic out there that claims 9/10 Major label records fail. Those ‘failures’ may sell thousands of units, but since the label spent so much money on recording and promoting it, they didn’t turn a profit and therefore the artist doesn’t get paid.
The problem is that major labels used to offer a lot more in terms of launching a career. That was when records sold millions, and the Majors could take a loss on 9 artists they’ve promoted and make a killing on that one record that sells millions. Today the value and money that a Major label can offer is declining as the music industry changes.
Today Major labels can give you:
- An advance depending on how much they think you’re worth. This advance is a loan, which you will pay back.
- Marketing power for your album. Another loan.
- Offer tour support. Another loan.
- Licensing opportunities in TV/Film/New Media..etc. They’ll do that only if you’ve given them your publishing rights.
If you’ve ever approached an industry person and inquired what they are looking for in an artist, they’ll tell you they invest their money in artists that have a fan-base and are working hard on their own. That means you have to do it all yourself before they’ll look at you. But in today’s world of 360 deals, labels (major and indie) offer you less and less and demand more and more.
The days of signing that Major label contract and having all your problems disappear are nearing an end, especially if you’re in a rock band. Work the angles that you have right now, put out better music, and then when the Majors come knocking on your door you’ll have the leverage to get what you want.
Get on yo’ grind!
Take Control of Your Music,