The Music Business & The Pimp Model
The music business is evolving. MP3’s, and downloading have seen music CD sales plummet.
Artists are feeling the pinch as are the recording labels. No-ones buying music anymore.
In fact, all the top earning performers and bands are earning the majority of their income from touring.
The model whereby an artist sells his or her sould to the record label in turn for a certain amount of promotion may be over. - We call this the ‘Pimp Model’.
Increasingly artists are going to have to fund their own enterprise, and manage it like a real business.
Touring, Merchandise, and promoting are all skills that up & coming artists in the biz will need to posess.
Yes, no more smashing of hotel rooms!
The major component of any record deal for an artist was the labels promotion of that artist music.
If artists can find ways to market their enterprise, and work on the road we’ll see a whole new level of income for this industry.
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December 30th, 2007
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