As you read through some of my older blogs you'll notice I've shared with you information about how adopting new music business model could position you to earn residual/passive income. Furthermore, you could be in a better position to own and control your copyrights and master recordings.
The rules and the players in the music business are changing. The traditional record business model was guarded by relationships and money, but now that other companies that have money and their own relationships with media giants and emerging companies alike are stepping into the music industry it changes the landscape in a significant way.
Hopefully, as an emerging recording artist, music producer, composer, singer, songwriter and music industry executive, etc. you take full advantage of the opportunities and seek shares/equity in the companies you do business with. Essentially, this is what Tiger Woods, Michael Jordon, Bob Johnson, Oprah Winfrey, Majic Johnson and many others have done to ensure that wealth is created, retained and sustained from one generation to the next. Any half-way savvy business person will seek to position themselves for residual income. Although it doesn't always happen if you seek it more often than not you'll get it in some instances.
Robert Levine writes the following:
The hip-hop and R&B producer Jermaine Dupri has discovered best-selling acts like Kris Kross and Da Brat, has produced hits for Mariah Carey and Jay-Z, and now runs the urban music division of the Island Def Jam Music Group. He’s also looking for fresh talent for a new label financed by a company new to the music industry.
The new player? Procter & Gamble.
The consumer goods giant is part of a wave of companies getting into the music business to promote their own products, essentially becoming record labels themselves.
Procter & Gamble, for example, is joining Island Def Jam in a joint venture called Tag Records, a label that will sign and release albums by new hip-hop acts. It is named after a brand of body spray that P.& G. acquired when it bought Gillette.
And Mr. Dupri, a music-industry veteran and the longtime partner of the singer Janet Jackson, sounds quite pleased with his new gig.
“I’ve never seen someone wanting to devote this much money to breaking new artists,” said Mr. Dupri, who will serve as president of Tag Records while keeping his position at Island Def Jam. “Nobody in the music business has the marketing budget that I have.”
At a time when online file-sharing is rampant, record stores are closing and consumers are buying singles instead of albums, getting into the music business might seem like running into a burning building. But as record labels struggle to adjust to a harsh new digital reality, other companies are stepping up their involvement in music, going far beyond standard endorsement contracts and the use of songs in commercials. Click here to read the full article on It's American Brandstand -Marketers Underwrite Performers.
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