If you’re involved in the entertainment business, you’ve probably heard some great tales. The following is a list of some of the top myths about the music business.
1. People in the music business will help you out of the goodness of their hearts.
Facts:
The music business is called the music business for a reason. It’s a business that just happens to sell music. Companies are in business to make money. They are not in business to make ART, however they will sell it. You can find a handful of good Samaritans willing to help for free, but generally speaking, if the help doesn’t benefit the other party, they won’t help.
“People (not counting loved ones) will help you if they think your art will make them money. They won’t help you if they think your art won’t make them money.” -David Naggar, Esq. of The Music Business Explained in Plain English-
2. Since the economic decline, people no longer buy music.
Facts:
People are buying music, but they’re not buying it in the same way as before. CD sales may be down, but individual track sales are up! If you’re still not a believer, just check iTunes sales records. Apple has reportedly sold 10 billion and counting!
3. Music superstars have and are making tons of money.
This is one of the biggest myths in the entertainment business. When you see Sean Kingston or Lady Gaga on TV, you may think they are living a good life, but in reality the amount of money you bring home really depends on the terms of your contractual obligations, as well as your money management skills. money. . Simply put, if you spend more than you earn, sooner or later you will end up broke.
I need examples:
MC Hammer
Marvin Gaye
michael jackson
willie nelson
Tony Braxton
Billy Joel
george clinton
isaac hayes
jerry lee lewis
ron isley
Need more? The list goes on.
The fact is that all of these artists have seen the ups and downs of the music business. Micheal Jackson, the “King of Pop”, even had money problems from him. No “superstar” is exempt. Good money management skills are needed to maintain a “superstar” lifestyle.
4. You can become a celebrity in the music business overnight.
This is one of the most common myths about the music business. People think you can sign a record deal and then all of a sudden you’re magically on magazine covers and receiving Grammys. All this talk is nonsense. At the end of the day, it takes a decent amount of work, dedication, passion, perseverance, and strong networking relationships to make it “success” in the music business. NO ONE HAS BEEN SUCCESSFUL OVERNIGHT However, some people have achieved their goals faster than others. Artists like Wiz Khalifa, Kanye West, and Eminem spent years building their reputations and brands to become the people they are today. This is why working smarter and not harder is essential in the music business.
5. Talent trumps work ethic
In today’s music business, talent still counts, but work ethic counts more. An extraordinarily talented person with an average work ethic will generally not do as well as someone with an extraordinary work ethic and average talent.
A strong work ethic, more often than not, means that you can be consistent, which is of the utmost importance in the music business.
Why?
A word. Marketing. Being able to consistently deliver high quality to the consumer is paramount. This is where work ethic trumps talent. A person who is able to consistently deliver a satisfying product to the consumer is, in the words of Charlie Sheen, a WINNER! Due to our ever-shortening attention spans, constantly having someone or something in our faces helps brand the product, service, or person. Ultimately this results in people getting paid!
