1. Manager's must be on top of their contracts! They talked about a music manager's role and responsibilities in 2008, noting that the change in the music business has required them to ensure that their artist's contracts include digital downloading and ringtones. (Does yours?)
2. Managers and Artists must now be indie record labels! They also said that the change in the music industry has also forced music managers to be even more creative from a business perspective. Snake suggested managers to look for merchandising opportunities, endorsement deals, etc. as additional streams of potential income for recording artists. He mentioned as an example the deal that The Game, a hip hop artist, was able to garner. (I'll be putting up a video on record deals v. endorsement deals soon so stay tuned!).
3. Get a team! Snake also suggested artists and managers have a team of managers. Using a team will help you collaboratively find creative business solutions to enhance an artist's career and create other streams of income. Having a team is essential now since artists are essentially being forced to be their own record label now. So instead of simply knowing a few things about the music business, managers are forced to know much more to keep their artists ahead of the ever-changing music game like technology. I think as songwriters, we should make sure that whomever manages us also knows more than we do or at least has access to other people who do.
4. You must have the winning combination to be successful in the music biz! All three managers stated that to be successful in the music business, artists must have an excellent work ethic, a will to win, talent, patience, money, your own style (even your own fashion sense), and a passion for your music. Cute won't always equal success anymore. You must stand out in a crowd and with the invent of MySpace and Youtube, and other artist sites, you as an artist must really stand out in a crowd! Some of the "non-singers" who wind up on TV on American Idol's first week of auditions know they need to stand out fashion wise so you will see some of the most outlandish outfits but... they do get their 5-minutes of fame though so mission accomplished!
5. You need money! They all agreed that artists needed money to make money. However, they all said that it's more important that an artist is creative with their money since it only takes 10 large purchases to go from 10 million dollars to broke. So invest in your music business wisely. I love that advice! It so struck a nerve with me that I'm doing a separate blog on it.
6. Managers help plan an artist, not book them! They also noted that management is there to provide structure and a plan to the artist, not to be an artist's booking agent. So if you're an artist waiting for your manager to get shows for you, you may be waiting a long time. Get a booking agent.
7. Build your reputation as an manager! From a manager's perspective, they indicated that while they still look for new talent, their representation in the ,music business precedes them so artists also come to them looking for management. So they suggested managers build a great reputation, one in which you are said to have a great work ethic and character with great relationships that can make things happen for artists.
8. Build your network and then build some more! They said managers need to create and build relationships with every person involved in the music business including labels, radio personnel, promoters, studios, street teams, even fans. They suggested artists to stay humble and speak to everybody in order to network because you never know who knows who. They also said that with the frequent changes in the music business, managers also need to stay on top of their Rolodex! Make sure that your managers' contacts are current since the music business is downsizing and streamlining and redefining the business all the time!
9. Fame has a price! Melinda discussed the ups and downs of fame, noting that once an artist allows media into their personal life, the media is there forever, even when the artist no longer wants the media there. They cited Britney Spears as an example.
10. Hit record v. Hit artist, prefer a hit artist! Every single manager said to be a hit artist, you must have a hit record. But to stay a hit artist, you must BE a hit artist. Again, to stay a hit artist, you must BE a hit artist. Hit artists will have more than one hit record. You must know how to pick hit songs (read my blogs on song selection for recording artists for help)! You as an artist must be brandable. Managers must be able to see your careers go well beyond a ringtone deal (though ringtone deals are great). Managers are looking for both: hit records and hit artists.
11. Commercial radio only has 15 slots available! Let's face it: most radio is commercial radio! These managers said commercial radio is essentially an advertising company that plays music! Because commercial radio is funded by advertising, there are only so many slots left for music. And with such a limited space, that means that your song has to be a hit for radio to want to play it!
12. Be adaptable! Change is inevitable! There are industry changes constantly happening. There are changes in technology. There are changes in marketing strategies. Managers have to adapt! Some of the managers felt that mix tapes are old ways of advertising. Some felt that mix tapes should still be used but that you'd be doing your artist a disservice if you didn't also advertise online, or also have a video. So the message in that is do your research!
Thedy B, Attorney/Songwriter
Hits A Million, LLC
myspace.com/hitsamillionllc
