London-based music managers James Barton and Brian Message have some very intelligent ideas about the future of music and business–or as they have named it: the “Post-Label World.”
managers must recognize that “every artist is a standalone business that generates income from multiple revenue streams” and that a “manager’s job is to create those businesses and run them well.”
Here’s a quick list of my favorite points made in the article:
- “artists – and their art – are the only real assets” — the components of the traditional music industry, from labels to publishers to merchandisers, should be “regarded primarily as service providers to artists.”
- managers must focus on “accepting consumer behavior and looking for as many ways as possible to monetize it.”
- managers and artists must leave “behind the notion that record sales are the key indicators of success.” In other words: focus on generating income from multiple revenue streams.