Music Business Opportunities… And how plan them.
30 Apr
What are the key points you might want to consider when starting your new Music Business Enterprise?
In Unit 2 of the Managing a Music Business Enterprise course we dive deep into the kinds of research and analysis that you should consider in the early days of planning your new music business. Below, we offer a few pointers to get you thinking.
Having a clear idea of what area in the music business you want to go into and plenty of enthusiasm to drive that idea along is not a guarantee of success. Unless you do some planning and research you are taking the risk of not being informed about the business environment and your potential clients when you start your new business.
Perhaps you want to start a record label specialising in a particular genre of music. Do you have reliable data about what countries consume this genre more than any other? What if you want to start a series of club nights at venues, are you reliably informed of what potential competitors are operating in the towns and cities that you want to operate in? If you just going on your feelings and instinct you might be heading towards problems.
Many people have gotten into planning or even several months into running their business only to discover market forces affecting their business that they did not know existed.
So here are some key points for you to consider based on Unit Two of the Managing a Music Business Enterprise course that we currently offer.
Discover What Makes You Unique: Maybe there are lots of labels who’s artists are performing the style of music that your artists are, but perhaps guest appearances on tracks from fellow label artists make your releases and label unique.
There might be a similar club night to the one you are planning down the road but do they have a VIP programme, or concierge service as good as yours?
(Hint: Mixing with other Music Business School students is a good way to discuss and test how unique your ideas really are.)
Know Your Market: One thing that is certain about the music business today is that nothing is certain. You need to keep on top of the flow of information that arrives every day via various music business publications.
(Hint: Being a Music Business School Student, gives you discounted access to some of these key publications.)
Do the Research: You really can’t just go on your instincts. Chances are you only have enough funds and support to have one go at starting your new business. There are no excuses in an age where all the information can be found easily via the various organisations who service the music trade.
(Hint: A number of these organisations send representatives along as our guest speakers – which is a great chance to get the info first hand and build your network.)
Unit 2 of Managing a Music Business Enterprise will help equip you with the knowledge that you need to engage in the preparatory work for starting a successful music business. It can also help you to understand the research that needs to be done for building a business case if you are seeking investment.









