Throughout these four chapters I will be discussing how to start your own record label. Part one will be talking about how to get started, like what a record company does. Part two will be talking about setting up the actual label, like record deals, contracts that you will need, and making your business plan. Part 3 will be discussing how to find the group you will represent, like what to look for in an artist, what is the artist looking for, and indentifying your market. Part 4 will be the production and part 5 will be the marketing and distribution, like creating the recording, finding a recording studio, mixing and mastering, and manufacturing and packaging. And what marketing is, finding your market, types of distribution and what they do.
What Does a Record Label Do
The record company’s main priority is to create and sell records. A record label will need to carry out marketing studies to decide the type of customers that will like the product. Then the label will promote the record to persuade those customers to buy it. Record companies promote their artist’s records through advertising, such as magazines, radio, television, and the Internet, basically all types of media. Labels can also increase their sales in shops like HMV. For smaller labels they don’t tend to have a smaller promotional budgets. Which would mean they might have to find other ways to promote their artists records. The most constructive way would be selling them at live performances. it would be more profitable that way. There are a few things that a label shouldn’t do. The record company’s is to promote and sell the artist’s record, not to develop an artist. So you are looking for somebody with experience with recording and performing live along with talent. With a band like this would let you put more time and money to promoting records. Don’t attempt to create a label were you wont be able to give what you have promised. Leave it all to the professionals who knows the jobs best. Through the journey of starting a label you’ll probably meet managers, agents ect. who develop talent. The best thing to do is to keep a good relationship with these professionals. Your job is to produce, market and sell good quality recordings.
Setting Up Your Label
Setting up your label is starting a business and there’s one goal to a business, and that’s a profit. Therefore, you should start good habits and a professional approach from the start. I’ve read that it isn’t difficult to set up a label, and you can do things on your own but it’s recommended to hire an attorney to help. This is another small good investment, because some simple stuff can be quite confusing. You’ll need four things to set up a label, which is money, an attorney, contracts, and an accounting program. The money would be the main thing and you’ll roughly need to start with about £1,500. This isn’t going to be paying employees, or an office, or recording time, but it will get you off the ground. When you’re setting up your label, you’ll have to decide what type of business is it going to be, like is it a partnership or corporation. You’ll also need contracts. It’s impossible to operate a record label without them. The music business is built entirely on the possession and management of copyrights. Without the contracts you might find that you don’t own the recordings you’ve spent money to produce. Without a written contract your rights will not be certain. If you plan to sign artists, sell records, pay royalties, make a profit, and pay taxes, you’ll need accounting software. All of the fees for filing an assumed or pretend name certificate for a proprietorship can run £10 to £50. You will definitely need an attorney if you are going to set up a partnership or corporation, which would be £150 to £750. Accounting software will cost from £150 to £250, but these days it for download. You will...