Thursday, June 4, 2020
Home Entertainment How To Successfully Start A Record Label Company

How To Successfully Start A Record Label Company

Record Label

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.

BUSINESS PLAN

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.

Read Also: 5 Secrets to Minimize Your Business Early Stage Risks

ORGANIZATION

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.

RECORDING STUDIOS

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.

Read Also: How To Become A Successful DJ And Producer

MEDIA MARKETING

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.

DISTRIBUTION CHANNELS

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.

Ikoi Abode Ikenna
Ikoi Abode Ikenna is a Pharmacist living in Lagos, Nigeria. A fan of entrepreneurship, technology, and web development and seasoned blogger, currently the owner and editor of Abode Business (www.abodebusiness.com) and West Entrepreneur Forum (www.westentrepreneur.com) you can follow him on Instagram @pharmabode

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

How To Start An Ostrich Farming In Nigeria

One of the most lucrative and profitable areas of the Agricultural sector is livestock farming. And of course, Ostrich farming is one of the...

6 Reasons Why House Renovation Will Increase It Market Worth

Are you considering selling your real estate housing investment, but don't know how its market worth can be increased? Do you plan to sell...

Lucrative Opportunity In Exercise Book Manufacturing

Since existence, right from start, the need for an exercise Book and other writing paper has itched, the putting down of thought, feeling and...

Small Business Ideas and Opportunities For Teachers

We pray for our teachers for giving us sound education may God reward them.  Are you a teacher and seriously in need of business...

Recent Comments