First Things First

Wow! I have thoroughly enjoyed my class this month. My Advanced Entertainment Law class has truly taught me so much over the past four (4) weeks. I am quite excited about finished this Masters Program and launching my new business. Because my business will focus mainly on artists and musician management, I want to be sure that all of my artists’ relations be dealt with in a proper manor. Before taking this class, I knew that it would be necessary for me to acquire an Entertainment Lawyer.

I have been afforded the opportunity to learn so much from Attorney McCallum, even before an interview. While I could have focused on advice for starting my business, I decided to focus on advice that would be useful, as it relates to artist management. Because artist and musician management encompasses so much, it is recommended that I began with only management. In my original business plan, I looked to begin with management, marketing, and merchandising. I realize that because I will be new to the industry, I do not want to bite off more than I can chew. I want to make sure that whichever platform I choose to stand on holds very sturdy, as opposed to having multiple platforms with less foundation.

As it relates to artists management, it is imperative that I first build a relationship with the artist. While it is the thought to maintain a business relationship, when it comes to management, the manager must know their artist and have their best interests at heart. When that working relationship is established and continually built upon, it makes way for more trust to be built between the two parties. Trust is definitely a major issue when it comes to managers and their artists. It makes communication so much easier, especially conversations in contracts, etc. I have also learned that it is imperative to thoroughly dissect every contract, whether it’s a contract I am issuing, or one that is issued to us. Many times, individuals will try to pull quick tricks in the form of contracts. It is easy to avoid these tricks if one makes sure to really understand the components of the contract, and also have a prior knowledge of contracts that are similar. This will help us to easily recognize a component of a contract that is not “realistic.” 

Where Do We Go From Here?

Where Do We Go From Here?

As I was reading up on some recent news in the entertainment industry, I learned that famous rocker, Stephen Tyler, has decided to bow out of his position/role on American Idol. According to recent reports, Tyler stated, “I strayed from my first love, Aerosmith, and I’m back… I’ve decided it’s time for me to let go of my mistress ‘American Idol’ before she boils my rabbit.” With the exit of Stephen Tyler, also came the exit of host, Jennifer Lopez. Yes, Tyler’s exit is understandable, focusing more on Aerosmith, as the continue to tour and release their latest album, after 8 years of silence; however, I wonder if that was the only factor for him leaving, Jennifer also. I thought to look into more the show itself. 

This past season, viewings only came in at roughly 21 million on the season finale. This is extremely low compared to how many viewings that would come in over years past. The wall street journal reported that “Fox has already had to agree to reductions of about 20% on the price of ad packages for top sponsors such as AT&T Co. and Coca-Cola Co. whose contracts range from about $25 million to $35 million and include ad time, product placement and other cross-promotions…” American Idol’s audience hit its all time high in 2006, it has had a consistent decrease since then.

I truly believe that FOX has done a great job with this show. Not only have they opened the eyes to the U.S. to so many talented singers, but they also created the platform for shows such as GLEE, The Voice, etc. 

CD or EP... What say ye?

CD or EP... What say ye?

Recently, I was sitting at Waffle House having a conversation with a group of friends. For sake of this post, I will give their respectful titles, an artist, an artist manager, a producer/musician, and myself, a musician as well. We were discussing the music business, as it relates to product. More directly, we focused on such this like, a live recording versus a studio recording, or a live studio recording. We also focused on creating product such as singles, full compact discs (CD’s), or Extended Play Records (EP’s).

As we progressed in conversation, it triggered a thought. “When did Extended Play Records become so popular?” The idea of an EP is not anything new to the music industry; in fact, it was made quite common during the time of the vinyl record. While many are no longer playing vinyl’s, except for me because I prefer them over CD’s J, the fact still remains that is simply the median between a single and a full album. According to Heather McDonald, “Musicians release EPs for a lot of reasons, but perhaps most importantly, they are frequently used as a promotional tool. EPs are used to introduce new bands, keep interest in an artist alive between full length release, to help promote a tour and more.” It makes perfect sense.

I remember when bands and artists were only releasing singles, most times, depending on the genre, it had two to three versions of the single on the CD. That quickly got old. Now, it is not uncommon to see groups, especially new artists, put out an EP, and letting that serve as their “full album.” I personally believe that, while it is a means to promote a tour or an upcoming album, it is simply a means to make a presence in the industry. Just looking through iTunes, I have seen more and more artists release EP’s. From new artists quickly gaining distribution via iTunes, Amazon, Spotify, etc., to already known artists making sure their name is not lost in the wind. There are many music services that are available for artists to use, in an effort to get distribution through such portals. Just to name a couple, CD Baby and ReverbNation.

I must say, I am definitely a fan of Extended Play Records, especially for new artists.

Let's Go Eat!

Separating the People from the Problem

For this week’s blog, I chose to interview Dakota Hilliard, one of the artist managers for Sivart Productions. For this interview, I decided to focus on the method, separating the people from the problem. During our interview, she shared with me that it is imperative to use this concept. There are many areas of negotiation where one can easily get consumed with talking to the issue and not talking to the person. According to Dakota, “Nothing is personal. The person that you are talking to is not the problem.” She shared that many times, a company standard is taken as a personal blow, when in all actuality, it is strictly company policy, “It’s not personal, and it’s business.” I asked how this concept affected her personal and working relationship with one of her current artist. Dakota shared that, “you have to know how to put on and remove both hats.” She shared that at the end of the negotiation, afterwards, you should be able to take the business hat off and say, ok, “where are we going for dinner?” I enjoyed how she used the movie Lean on Me as a reference of this concept, taken from the scene where the principal and the superintendent got into a fight and then at the end of the argument, they were able to go eat as friends.

So in essence, the ability to compartmentalize is imperative to the success of a working, productive and functional relationship. This stands true for colleagues, as well as newly found clientele. I asked Dakota what would be her number one word of advice for someone entering the business, either as an artist manager, or an artist. The answer she gave was “Do your own research, don’t solely rely on anyone else’s opinions or past experiences.”

Create an Additional Flow of Income Early

Create an Additional Flow of Income Early

When I initially decided to begin my own business, the focus was on artist management and artist marketing. As time goes on, I notice a significant trend in artist’s revenue. Over the last few years, record sales have declined significantly. This is why there are so many artists who look to other streams of income. We have seen artists establish themselves in the television/movie, fashion, cosmetics and healthy living industries. Recognizing this trend early is imperative for any new artist looking to be successful in their industry. With this principle in mind, I wanted to look at what types other streams of income, with the focus of merchandising, more successful. 

It is not uncommon to see artists promote themselves and their brands through apparel such as T-Shirts and headgear. However, if this is the only type of merchandising that the artist uses, they are limiting themselves. Artists should take time to look into every area of merchandising that’s available. A good example of this would be the Hip-Hop Artist 50 Cent. He positioned himself to be successful as a rapper, as well as an actor. He also tapped into the healthy living industry by creating Vitamin Water. 50 Cent has recently tapped into another merchandising venue, as he is now promoting his new headphones, known as SYNC.

It is important for new artists to see that merchandising is not limited to selling items that show their name or brand, but rather an item that they have created and made popular. A great example of this would be Katy Perry and her heart sunglasses.

A great way to ensure that your merchandise is available and noticed, is by first making it visible. This may come easier for an artist who is already somewhat established; however, even with a new artist, anytime they do a show or an interview, they should wear or show their merchandised item. Katy Perry’s heart sunglasses became popular because she wore them all of the time. This then lead to the knowledge of her full line of eyeglasses.

This is a great way to follow rule number one in Kiyosaki’s “Rich Dad, Poor Dad,” The Rich Don’t Work for Money. A major step in becoming rich, is understanding how money works. One must find a way to make money; that way, when they are not working, they are still making money.

References:

Kiyosaki, R. T. (2011). Rich dad poor dad, what the rich teach their kids about money that the poor and middle class do not!. (1st ed.). Scottsdale: Plata Publishing.