A lot of people are a fan of good music and most of them are push or motivated to start their own record label company just to be part of the music industry. So if you have this dream of changing the music game and want to be heard, then you should consider starting your own record label company. And in order to start one, you will need the following.
Before you start your record label company, you need to decide on things like; the kind of genres of music you want to deal on, start-up funds, number of workers, etc. These details and other essential information are what will be provided and answer in your business plan. Note: A well-written business plan, ensure that you get a clear direction as to where you want to take the business.
As you start your record label, it is important to secure the rights to distribute the music you will be producing. As it is done in the music industry, you won’t have anything to do with publishing the music you distribute. Publishing is just the means of deciding who gets paid their dues for the music he or she writes. So on your own part, you will be handling payment of record sales to artists, and that can be done through mechanical licensing. One more thing, it is very important as a record label company to apply and register with any recognized recording association in the music industry. When you are a member of a trade organization, it keeps you inform with any new distribution laws or changes in the recording industry.
Once you start your record label, it is up to you to decide if you want to accept all ready-made products from artists to distribute for them or not. And as you established your record label, it is important to also create a good working relationship with other recording studios – it will be favorable to you in the long run.
This stage is the most important aspect of starting a record label company. It is pertinent that you start creating awareness for your artists and get them heard on different radio stations out there. You can start by marketing yourself to radio and television program directors both in and outside your location – letting them help get the word out about your record label company. Socialize with other record label companies, attend organized entertainment trade shows so you can meet and interact with program directors from all corners.
There are certain channels you will need to employ to get your records to distribute and sold in other location outside your location. Such channels can be recorded by distribution companies, wholesale and retail music store outlets and the others. You need to offer these distribution channels some kind of incentives to assist you to get your records out there to music lovers in and outside the country.
About The Author
IKOI ABODE IKENNA (Pharmabode) is a pharmacist, Motivational speaker and an Entrepreneur that is happy to work while others are out partying. Have a Business idea to discuss? Join: www.westentrepreneur.com
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