Music Industry Management: Managing the Artist - Essay Example

?Music Industry Management: Managing the Artist Introduction: The music industry is extremely fascinating industry to a lot of people. Once we observe music videos and observe recording performers perform, everything looks exciting and glamorous, but there is numerous job involved in getting an artist to that particular point. There are numerous people who work generally behind the sights to carry on the music industry running. “The music industry of course makes these new technologies responsible for their decline in sales while others argue that the new technologies moreover offer great opportunities for the industry to expand their markets” (Lehmann 2005, p. 4). Commercial accomplishment and a continued career in the music industry more and more depend on the artist's capability to set up their own minute record labels, manage their copyrights, assist live proceedings, build up their careers efficiently and, equally in nowadays market, uphold their health. In the direction of a group of exceedingly experienced business professionals, this way covers the key ideas of developing and managing there own job, or the career of an act which represent. Music Industry Management: Managing the Artist is the one of the interesting topic in nowadays. Having founded necessitate to reconfigure existing ideas and notions of “the music industry”, it is necessary examine the insinuations of taking this on board. In the late period of 19th century and near the beginning 20th century, the music industry was subjugated by the publishers of sheet music. By the middle period of this century records had supplanted music sheet as the major player in the music industry: in the commercial world citizens started talking of "the recording industry" as a slack synonym of "the music business". Since in the early period of 2000, sales level of the recorded music have dropped off considerably, at the same time as live music has enlarged in importance. “According to the music distribution model that dominated most of the last century, consumers acquire music recorded on plastic discs or cassettes. They keep the discs in their homes, sometimes in expensive wooden cabinets that have been designed and made for this particular purpose” (Wikstrom 2012, p. 2). In the 21st century customers spent extremely less amount of case on recorded type of music than that they had in the 1990 century in every format. So that total incomes for cassettes, CDs and digital downloads in all over the earth dropped 25% from the amount of $38.6 billion in 1999 to $27.5 in the period 2008 according to IFPI. Business Structure: The music business is a complex scheme of many different firms, organizations, and persons and has undergone dramatic alterations in the 21st century. On the other hand, the majority of the contestants in the music business still accomplish their traditional functions, which are described below. Recorded Compositions and Music: There are three kinds of possessions that are sold and formed by the recording business: recordings, compositions and media (for example CDs or MP3s). There may be numerous recordings of a lone (single) composition and a lone recording will naturally be distributed into numerous media. Compositions: Compositions are formed by composers or songwriters and are originally possessed by the composer of the music. The composer may put up for sale the copyright to another party. And also compositions are "assigned" or licensed to publishing organizations. A publishing agreement specifies the business affiliation among the publishing company and the owner of the copyright. The publishing company gathers fees when the composition is employed. A part of the royalties are paid by the publishing corporation to the owner of the copyright, depending on the terms of the agreement. Recordings: Recordings are formed by artists of the recording, frequently with the assistance of record creators and audio engineers. They were conventionally made in recording studios in a session of the recording. In the 21st century, progresses in recording technology have permitted many artists and manufacturers to generate "home studios", bypassing the conventional function of the recording studio. The record maker manages every aspects of the recording, creating numerous of the logistic, monetary and artistic judgments in collaboration with the artist. Physical Media: Physical media (for example CDs) are sold by retailers of the music and are possessed by the customer. A music distributor distributes the physical media from the producer to the retailer and upholds relations with record companies and retailers. Management of Artist, Representation and Employees: Artists may hire numerous citizens from other fields to help them with their job. The artist manager supervises every aspects of an artist's job in exchange for a proportion of the income of the artist's. An entertainment lawyer helps them with the particulars of their agreements with record organizations and other deals. All the financial details, bookkeeping have and taxes are handled by the business manager. A victorious artist functions in the marketplace as a brand and, by itself, may derive profits from numerous other streams, for example internet-based or products services. These are normally managed by the artist's manager and take the type of relationships among the companies and artist that specialize and focus in these products. “Music marketing plans are written for a couple of reasons. Primarily they are written by a record label so that they can figure out what they are going to do to get their recording heard by the public and eventually sell. Secondly, music marketing plans are written to show investors or other financial lenders that you have a clear picture of the music marketplace and how you will be successful with your label” (Knab 2008). Also it is significant to keep in mind that these strategies are not seen directly by fans of the music or customers. But r fans and consumers act in response to the outcome of plan when they buy and hear music. We see two major harms with the term “the music industry in the 2012.” First, it recommends a homogenous industry, while as the reality is of dissimilar businesses with some general interests. Secondly, the term is normally employed synonymously by way of the recording business. Therefore the term “the music industry” is frequently used in methods that guide to confusion and misrepresentation. It recommends simplicity and ease where there is homogeneity and difficulty where there is diversity. It as well, as we will serves, demonstrates certain types of vested interests. With the intention of exemplify this, we observe four significant places where ideas of “the music industry” are created: that are, reports of the media, various types of official reports, work of various academics and finally representative and umbrella organizations. “One of the biggest myths about the digital age is that artists no longer need record labels. The internet allows them to reach their public directly, the myth goes. Live music and other revenue sources, like merchandising and advertising, will do the rest” (Kennedy & Wenham n.d., p. 4). One of the best methods for positioning an unknown singer-songwriter into an appropriate and viable music marketplace is the advertisement. Advertising is only one fraction of branding's grand plan, as are logo licensing and funding. Suppose of the brand name as the core meaning of the modern business, and of the advertisement as one vehicle employed to convey and communicate that meaning to the world. “The first mass-marketing campaigns, starting in the second half of the nineteenth century, had more to do with advertising than with branding as we understand it today. Faced with a range of recently invented products — the radio, phonograph, car, light bulb and so on - advertisers had more pressing tasks than creating a brand identity for any given corporation; first, they had to change the way people lived their lives” (Klein n.d., 27). One of the most interesting things regarding the music industry nowadays and also one of the most frightening things regarding it is that we can go down from there are million of records to 100,000 overnight. We can also see that these artists that have these amazingly successful and flourishing records and second one arrives out and it’s like they have put sale of 10% what actually the record at first time made. Numerous people are extremely creative and they like to find out new music. L-agencies have extremely good citizens involved as well. It is same as what the sync organizations do. The really positive thing at the period at the present is that everyone is working with some type of online service. “The Internet has dramatically changed the nature of demand and competition. In many industries, new production and search technologies have altered the pattern of sales and market structure to the benefit of fringe goods in the long tail. However, another common view, informed by search models, is that cheaper access to information leads to very competitive markets with low price dispersion and a few, high-quality, superstar products” (Isaac et al. 2011, p. 2). The world has turn out to be worldwide marketplace. That is very exciting thing. People hear various type of songs as they like to hear, they accept and bear those songs in there own mind and they are clued up. Management is a type of ability and also proper management of music industry and artist management is necessary to cope with the current interest of the public. For that first thing is that, “Understand your own management style and take responsibility for its effect on others. Developing an effective working relationship with your boss requires that you understand yourself and your management style. Recognize your own strengths, weaknesses, goals, and personal needs; how you respond to being managed; and how others respond to you” (Turk 2007, p. 22). As a manager, as a record business, as the publisher of the music, as a agent or lawyer, whatever we done in the industry of the music, it’s not work with the one particular artist but we have to roster of all artists. Artists for the majority area have one chance for their job. There are numerous exemptions to the rule of course but normally citizens have one shot. Artists eventually recognize what’s extremely best for them better than anybody else for the reason that they are in it, they are emotion it, it’s there name. The artist manager is fundamentally the Chief executive of the firm which possessed by the Artist. The job of the artist managers is to run that firm efficiency, to enhance its successes to guarantees its longevity and safety and to plan and direct and guides its growth and progress. The artist manager once they have made a decision that they desire create a deal of music publishing or record might think approaching an expert lawyer of the Music Business. Artist manager many be well associated enough in the music business to be capable to create primary approaches to the music organizations regarding creating deal but increasingly it is a lawyer of the music acting on behalf of the customers, the Artist who will going to approaches the music firms and start to create interest. In addition to the legal approaches to manage the use of a musical employment, there are numerous technical attempts made with the intention of keep power over the employ of music. So called Digital Rights organization approaches try to protected files by copy protection apparatus or watermarks. On the other hand these technical efforts turn out to be rather quickly out-of-date since they are fast hacked or circumvented by particular groups. “Hence technical protection in the fast changing world of the internet is a rather useless and hence costly fight like the one of Don Quixote against the windmills. Furthermore technical copy-protection is likely to upset the customers since there are a lot of cases where accordingly manufactured CDs are not playable for instance with older CD players” (Lehmann 2005, p. 9). Conclusion: If a music industry can effectively break an act in their own state, they then attempt and construct the artist and worldwide career. International accomplishment is not only the objective of many hopeful and aspiring artists, it is also fundamental to the commercial music market, helping generate profits which are ploughed back in developing and nurturing new acts. Reference List Isaac et al. 2011. Search, Design, and Market Structure. Available at [Accessed on 26 April 2012] Kennedy, J & Wenham, A n.d. Investing Music. IFPI. Available at [Accessed on 26 April 2012] Klein, N n.d. No Logo. Available at [Accessed on 26 April 2012] Knab, C 2008. How to Write Your Own “Four Front” Music Marketing Plan. Music Biz Academy.com. [Online] Available at [Accessed on 26 April 2012] Lehmann, V 2005. European Master in Law and Economics. Copyright in the Master Industry “For Whom the Bell Tolls” Available at [Accessed on 26 April 2012] Turk, W 2007. The Art of Managing Up. Management. Available at [Accessed on 26 April 2012] Wikstrom, P 2012. A Typology of Music Distribution Models. Available at [Accessed on 26 April 2012] Read More