The Music Producers Guild (UK) Holds First DIY Record Label Event
Panelists presented their views on the current state of the record industry and highlighted the growing importance of the independent record label
The Music Producers Guild (UK) held the first of a series of DIY Record Company Events at Metropolis Studios to a sell out crowd.
Panelists Michael Fuller of AIM, CEO Patrick Rackow of BASCA, Ben Jones of the Musicians Union, producer and MPG Chairman Steve Levine, and Ian Brenchley of Metropolis Group each presented their views on the current state of the record industry and highlighted the growing importance of the independent record label in the new digital economy. This last point is especially critical, given the new business models that are being employed.
The session was moderated by MPG Director Tommy D, who also runs his own independent record company.
The audience was a mixture of new independent label owners, managers, artists wanting to launch their careers, producers and publishers, all hungry for information on the new business models. It was also good to see a large representation of women from an industry that is often accused of being a male dominated domain.
During the debate, Michael Fuller pointed out that times had definitely changed and major record companies were no longer signing new acts for development as was the case in the past. "They're looking for artists who are already on their second album, have a fan base…something they can take to the next level," he said.
Patrick Rackow hammered home the point, saying: "Make sure you know where your income streams are coming from. You might have to give away more points to collections services in other territories but it is income you wouldn't have had in the first place. Be prepared to incentivise. Increase their share if they negotiate further sync deals or reach collection milestones."
Steve Levine stressed that the income from PPL is now of paramount importance and that income streams are often lost by not joining PPL or starting your own publishing company.
Tommy D extolled the virtues of alternative marketing routes via facebook and twitter and encouraged everyone involved in creating music to explore these avenues for promotion.
The next DIY event will be held on the January 27th 2011 and will look at distribution routes and aggregation methods.
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