The Benefits of Investing in Your Own Music Business

Producer @taykeith is on podcast @mworthofgame, encouraging artists to invest their own money into their music business. Taking ownership of your music business and learning everything you can about the business is important, so when you start attracting investment either from a record label or business partners you don't get taken advantage of. For a real world example a record label could give you a budget of 100k for music marketing for a single. If you don't understand music marketing or if you're not interested in that side of the business they could take that whole 100k and blow it or spend it in areas not beneficial for you. An example would be the record label flying out the best videographer for your music video on a first class ticket, when someone local could do the music video for half the cost of the plane ticket. Because you're not involved in the business or you don't understand the business you won't even realize it. If you understand the business you can go to the label or partner and say, "Before I take this money from you, let me know, how is it going to be spent, what's the plan?". You could even take it a step further and outline the budget within your contract so there are no surprises, you'll be comfortable knowing where every penny is being spent and everyone involved is held accountable. Follow us for more tips, motivation and music industry insight @dontsleepgfx

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