The music industry has found its answer for the loss of album sales by converting recoupment deals to 360 contracts with their artists to find success and profits in streaming, live ticket shows, branding, touring, merchandise, and corporate sponsorships. The quickest way to find success in the music business now is to know the industry and figure out where you best fit into the creative and business systems. If you want to be a major label or independent recording artist, producer, label executive, booking agent, in artist representation, talent agent, promotion, publicity, social media, streaming, touring, merchandising, audio, copyrights, concert promotion, legal, the live ticket, or video, then this book is for you.
According to the music industry source Buzz Angle, (2018), only two albums sold more than one million copies in 2017 in the United States. In addition, on any given day in 2017, there were more than twice as many streams (1.67 billion on an average day), than there were song downloads for the entire year. Music is pure inspiration. But for the music industry, the problem in a nutshell, has been change, adapt, or die. The industry has found its answer in the live ticket, branding, touring, merchandise, and corporate sponsorships based on the 360-business model.
The 360 Music Industry is the first book of its kind to detail the dramatic changes in technology, laws, and consumer attitudes that have forced the industry to re-invent itself into a new business model. The industry is based on financial investments into the artist's creativity based on digital marketing and streaming revenues. An analysis is provided on how listening to music is used by analytics and label marketing experts to break fans into different consumer types to be exploited (in a positive way) for profits through social media, promotion, and publicity.
Songwriter and music publishing deals are provided with information about the various types of revenue generating licensing. Each record label department, their administration, and operation strategies are tied to the 360 deal and how they best represent the artist, their recordings, events, and tours. Artist representation examines the personal manager and the corresponding business managers, attorneys, talent, and booking agents. The concert promotion industry is detailed through the process of bid sheet pricing to determine the cost and potential profits from a show through scaling the house.
Special segments in chapters, provide beginners with information that may help determine where to seek employment in the industry along with samples of budgets for rehearsal, recording, and a 40-day tour. The last chapter provides information about various types of industry related and connected career opportunities with information based on government statistics.
