By Mark Grove
This is a repost of a very important topic most musicians ignore.The US financial problems.Most musicians will see it as a reason to give up,quit,lay dormant or do nothing in general.I see it as a way for bands to take advantage of any recession and make even more money. A famous profiteer once said,"When There's Blood in the streets--is the best time to buy". Meaning the stock market and business in general. It always come back, and music always does. Even in a bad economy people want to be entertained, socialize and drink social beverages from pop to beer and liquor.That's why it's your duty as a musician to make money,entertain people and help other musicians. Read this important report and tell me what you think.
Most musicians who are not enlightened to what the US financial woes mean, will obviously think that the money problem means potential money problems for their band. They will whine and complain and have a herd mentality like everyone else in the general public. They may still have a regular job or a small business and a band to boot, yet they still think the financial fuck-up will hurt them. If you let it, yeah it will hurt you monetarily. How does any of this financial problem with the banks and mortgage lenders involve musicians?
It won't if you're ready for it.Musicians will say the clubs will all dry up and they'll be fighting for gigs,or even opening for others.And no the money's not gone, it's just one sector of the economy that was hit because people thought giving great deals for mega houses would not go in the toilet. Unfortunately it did. The money is not gone!
The money crisis will make some musicians new multi-millionaires when worked right. Don't ask me how, it just will. Incredible bargains will be had for music equipment, making deals with club owners to play regular gigs or even buying stocks of major record labels, rehearsal and recording studio time.
These musicians will profit hugely!
The intelligent players will see the crisis as opportunity to make money in off the beaten paths, not just the staple of club gigging.The prices will drop to have a CD made as well. You can put that money to work doing online marketing and setting up a website. Write Press-Kit articles for musicians, or where agents see gloom and doom you can set up shop and book musicians at just a little lower percentage and grab a bunch of blues or rock acts, and there by capitalize on the lower percentage.
If you're a musician who sees this as opportunity, you'll know that your band and music business is providing value to other musicians, fans and music industry people. There's still lots of money out there and people will always want to see live music.
It's till important to concentrate on the business of music, and in this financial crisis you can ask people on your email list what they do for a living if they value your music and articles on music. That way you can see where they are financially by knowing what they do.
Most musicians will still freak out because of the financial crisis and think shit!
What am I gonna do for my band?
They will wait everything out and focus on what they aren't doing and making. Marketing is huge, besides the music. And where major label deals and major booking agent deals go south, if you're resourceful enough you could book certain bands or offer an indie label deal for a band who's had some success but a major has dropped them. You don't need to be a major player to do big deals every time.
But think about this, why would a major label keep an artist coming out with albums if they don't sell a certain amount based upon what the label puts into marketing and recording of an album, then lose money. Now you know they keep their interests on the bands that make money for them.
Makes sense doesn't it. But they could do a better job with their smaller labels. Just some input. Maybe the banks could learn a little something from the major labels on focusing on the money making deals. Most companies in this crisis will be petrified and think their market will go in the dumper and a recession.
No matter what, think of this as an opportunity ripe for the pickin'.
Here's a Little Secret:
There will always be music--and even if there is a major recession people will still listen to music. Any problems with labels, bookers or clubs has nothing to do with your band. And most musicians will do nothing to make their situations better, so if your band is ready to pounce on opportunities will profit from the financial crisis. And most musicians will wish everything better.
I deal mainly with blues musicians and it's the toughest to make money at. I feel there are monstrous opportunities for blues artists and blues promoters,writers and bookers. If a bluesman can make money in this economy why isn't your band?
I think that it's worth the investment in your band to challenge them to overcome the financial crisis and come out on top. Think of ways to bring more people to gigs. Offer to play for free to club owners. Get them to bring the media and interview the band. The free gig will help you bring more people out to add to your mailing list and buy your CD's.
Offer Q and A sessions to fans, and put up a forum on your site where they can talk about your music. Market your band's ass off and you'll say, Financial Crisis, What Financial Crisis?