RECORD LABEL MUSIC PRODUCTION COMPANY NIGERIA

OVERVIEW

Are you an artist who desires some creativity to your music? Or a music-lover who desires to contribute to the success of unknown artists that you just love? Or maybe you’re a music producer who which to produce the records of artists that you just have produced? Then knowing a way to begin a record label is compulsory.

In this 21^st century a technology age, learning a way to begin a record label business is simpler than ever before. It may be done nearly instantly. This article will discuss on the key tasks to have the strongest and profitable Independent record label and running quickly, with efficiency and legally.

INTRODUCTION

If you wish to be successful and wealthy in Nigerian entertainment business, however you don’t have a lot of within the method of musical talent, you have to begin your independent record label. This is the best option for a possibility for future musicians. Who is disappoint or have issue signing a major label deal. Running (indie) record label in Nigeria is joyous, however it takes an entire heap of commitment and a large amount of cash. It’s crucial and necessary you get into the business with open eyes. If your objective or sole purpose of desirous to have a label is to unleash your music then follow me on, this text provides a basic summary on a way to begin your own record label in Nigeria.

The following are the steps to follow to have your own record label.

CHOOSE YOUR BUSINESS STRUCTURE AND LABEL NAME

This is the time to work out how the label can operate, like who are going to be liable for that tasks and the way individuals are going to be paid. You can search online to check your name is not already taken from the Company Affair Commission (CAC) website. However, while some people skip this step, it’s a good idea to register your record label as a legitimate corporate entity with the Company Affairs Commission right away (CAC). There are a couple of general rule to have in mind, If you’re beginning the label with alternative partners, you may want a partnership agreement that details the proportion of possession every partner has, how each partner will leave the business, how choices are going to be created within the partnership, and so on. For many independent labels, the effective business structure is one that’s simple which protects the partners from personal liability ought to think get wrong within the business.

THE REASON WHY YOU NEED TO REGISTER YOUR RECORD LABEL WITH CORPORATE AFFAIRS COMMISSION OF NIGERIA (CAC)

1. You can open a company account along with your registered business certificate.
2. Potential customers tend to feel easier and safe paying into a company account than a normal saving account bearing your name. And you’ll be able to open a company account with any bank of your alternative with a registered business.
3. Registering your business offers your business a business structure.
4. You’ll be able to apply for bank loans and grants once your record label is registered.
5. You’ve got higher access to investors with a registered business as investors scrutinize your business structure before investment.
6. A registered business offers customer’s confidence that they’re handling a respected organization.
7. With a registered business, you’ll be able to simply get a visa and trip to any country for events, tours and for alternative functions.

SEARCH YOUR MUSIC

The majority of people who start in the recording industry do this because they hear fantastic music that no one else is releasing. Fantastic—move on to the next stage if that’s the case for you. Now is the time to start your own record label if you only have a concept and need some music to get started. To move on to the next step, you’ll need to have a release, or several releases, planned for the next steps, such as distribution and public relations. Finding music to release is more difficult than it appears; it’s like looking for a needle in a haystack. Starting locally is one of the simplest things you can do. Check out some local musicians to see if there are any you’d like to collaborate with. Because an indie label is a labor of love, it’s critical to hold out for music you truly believe in. When you’ve chosen to create a label, you may feel compelled to act quickly. In the end, it’s worth it to wait until you have a record you adore and can’t wait to share with the world.

FIGURING OUT DISTRIBUTION

Music is moving from physical purchases to digital downloads and streaming, and African nations are certainly a part of this. The marketplace for on-line music has been terribly positive. Aggregating services can place your music on sites like iTunes, Apple Music, Spotify, Amazon, Google Play, Tidal, YouTube, Deezer, Spinlet, Vevo, Boomplay, and 150+ alternative platforms. You’ll originate these services from the word go, so you do not have to be compelled to wait around with sensible releases on your hand that you simply cannot move the least bit.

Some physical distributors can work with anyone. These firms can actively become involved in commercialism your releases to the stores and can typically assist you with advertising your releases. These types of firms typically wish to grasp that you have got a busy release schedule planned they detest operating with a label with one release.

Distributor’s deal during which they get hold of the product up front and reorganize it from sales. It helps along with your income in the short term, but these deals have become a lot rarer.

INDEPENDENT LABEL CONTRACTS: FRAMEWORK AND ARTIST DEALS

Once you recognize the music you wish to release, you’ll have to make a deal with the artists. One of the best things about indie labels is that you can essentially have any reasonable deal you would like. In fact, it makes life plenty easier once you create a deal that works for you and the artist on a case-by-case basis. Having said that, it’s a decent idea to grasp your limitations and to have some basic principles in mind. Here are some things you’ll have to think about:

• Do you wish musicians to deliver a master plan, or will you move into recording costs?

• Will you be paying advances, and if so, how much? (If you’ve got a minimal budget, your best bet is to do and convince your potential signings to stay small so there’s money left to push their release.)

• How do you split the profits from any given release? Are you providing your artists with the same percentage, or are you distributing them in the same proportion? Will the label be able to recuperate from manufacturing and promotional expenditures before making a payment?

• Will artists be able to approve promotional costs in excess of a certain amount? If so, how much will it cost?

• How many free promos/copies will the artist receive? What quantity do you think you’ll get if you go beyond that limit? Will they buy additional copies?

• What is the length of the deal?

• Is the deal for only one album or several?

• Will the musicians be entitled to audit your books? How often, and what notice do they have to give?

• Be honest and transparent with your artists about how much you can or can’t offer. If a problem arises, be honest and open with them about it; and besides, no record industry would exist without artists or bands. Dishonesty is generally always the origin of a bad reputation in the industry.

• Most record labels don’t make their contracts flexible enough to allow their artists’ growth; don’t be one of them.

CHOOSING A PROMOTION

To sell your releases, you’ll need to promote them. You’ll need to cover or at least consider covering a few distinct areas of promotion, finances, and authorizing:

• Terrestrial radio, satellite radio, and online streaming are all examples of radio.

• Media in print

• Media Clubs on the Internet

• Posters, newspaper ads, Internet ads, and, if you’re very fancy, TV ads are all options for advertising.

The first decision you’ll have to make is whether you’ll manage promotion yourself or hire someone to do it for you. It’s worth noting that the majority of public relations firms specialize in a specific type of marketing. They may cover commercial and college radio, or just print media, for example. To put it another way, if you hire out the work, you’ll most likely be paying multiple companies.

Although you should set aside the majority of your budget for promotional costs for any release, smaller independent labels may not be able to afford to hire outside public relations for all aspects of a campaign. There are a few options to deal with your financial constraints:

• Do all of your promotion in-house. If you have never done promotion work before, you will need to do some preparation, such as building up a press database.

• Hire public relations for specific aspects of a campaign. This is the way to go if you think you can handle print and web promotion on your own but aren’t sure how to traverse radio, for example.

If you’re going to do your own press and this is your first time, make sure you leave enough time before your initial release to organize your promotion.

START MAKING YOUR FIRST PUBLIC RELEASE

So, there you have it! You’re all set to go. You must now choose a release date for your first product. You won’t have to worry about things like manufacturing turnaround time if you just focus on digital distribution. There’s a little more to it if you’re pressing actual stuff. The following are some factors that will influence your release date. Note that we’re presuming you already have a finished masterpiece, and we’re skipping the promo factors for now:

Approval of artwork: Be prepared for delays, which are common. Also, keep in mind that you’ll have to sign off on the printing before the project is finished, at least on your first few jobs with a manufacturer.

To sell your release to their retailers, your distributor will desire a long lead time. They’ll also want your release to be scheduled appropriately so that it doesn’t get overshadowed by other, more important releases. While rescheduling your release date to accommodate a larger release may be inconvenient, it is in your best interests to have your distributor focused on your project.

Manufacturing (anticipate delays, which are common). Also, keep in mind that you’ll have to sign off on the printing before the project is finished, at least on your first few jobs with a manufacturer.

Your distributor’s preferred release date. They’ll need plenty of time to sell your release in their stores, so give them plenty of notice. They’ll also want your release to be scheduled appropriately so that it doesn’t get overshadowed by other, more important releases. While rescheduling your release date to accommodate a larger release may be inconvenient, it is in your best interests to have your distributor focused on your project.

RECAP OF THE FIRST RELEASE: EMBRACE THE LEARNING CURVE

It takes time to learn how to run a record label. Even with the finest intentions and meticulous planning, there’s a good chance you’ll make a mistake with your initial release. That’s all right. You’ll make them on your second, third, fourth-fifth attempts.

Here’s the trick: make sure each time you make a mistake, it’s different. Take some time after your initial release to examine the entire process and determine what went well and what may be improved. Apply what you’ve learned to your next project. Now is the time to move on. You’ll be alright as long as you learn from each release.

Finding music to release and low-cost distribution channels is a bit of a chicken and egg issue when starting a record company.

Distributors (in most cases) want to know that you do have some music ready to go before they continue to work with you, while musicians will want to know that you have distribution before they sign with your label, and unsigned musicians may be willing to join before you source for distribution.

Don’t get wrapped up in fancy. Focus on releasing and marketing high-quality music, managing your fan base, and treating your musicians well. When you concentrate on the fundamentals, things tend to fall into place. Finding music to release is more difficult than it appears; it’s like looking for a needle in a haystack. Starting locally is one of the simplest things you can do. Check out some local musicians (there are plenty on social media asking for someone to assist them with polishing their raw vocal abilities) and see if there are any you’d want to work with.

Even with the finest intentions and meticulous planning, there’s a good chance you’ll make a mistake with your initial release. That’s fine; after your first release, take some time to assess the entire process and determine what worked well and what may be improved. Apply what you’ve learned to your next project. Move on. You’ll be alright as long as you learn from each release.

WHAT IS THE REVENUE MODEL FOR A RECORD LABEL

• Direct sales and online streaming provide revenue for artists and record labels.
• Music publishing and licensing is becoming an increasingly important source of revenue for independent companies and artists. Publishing relates to the ownership of songs and compositions, whereas licensing makes your music available for use in visual media such as advertisements, games, TV shows, and films, but you must first register with the proper governing organizations.
• When your music is played on the radio or live at a concert, you will be paid performance royalties.
• Merchandising and Ticket Sales: Artists and labels may always make some extra money when performing live.

GETTING EQUIPMENT AND ACCESSORIES FOR YOUR RECORD LABEL COMPANY

In order for a record label to be well-known in the music industry, it must have modern technology and gadgets on hand. More artists will want to be a part of the record label as a result of this equipment, and more fans will want to work with the label head to take the business to the next level.

• Digital Audio Workstation
• Audio Interface
• Power Generator e.g. Mikano or any other Small generator
• Microphone Stands
• Microphones etc.

The owner of the Record Label will purchase all of the aforementioned equipment and devices, as well as many others.

BRANDING YOUR RECORD LABEL AND CREATING A WEBSITE FOR YOUR LABEL

Aside from registering your company, another important step is to creating a brand identity for it. This is where you’ll discuss logos and brand identities. The size of your logo will adjust to fit on banners and website postings. If you are able to launch a successful independent record label, this logo and brand identity will be the first thing people notice and will be known for years.

However, you will not be able to develop a brand name for your label without mentioning the need for a website. Your company’s public relations officer, often known as Hype-Man, will be in charge of this website.

GETTING YOUR RECORD LABEL LICENSED

Permits and licenses are required for the formation of a record label. You must license your record label in order to be able to function freely as a record label in the state and avoid being fined by the licensing body. For example, we have the Nigerian Record Label Owners Association, PMAN, and others.

CONCLUSION

Most record labels do not make money, but if administered properly, your label may be extremely beneficial to an artist. If that artiste succeeds, your label will profit from a piece of what the artiste earns, which is why you should consider forming a partnership with your artists; trust me, it will be a long-term connection for you both.

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