The Evolution of Business Models and Marketing Strategies in the Music Industry, NAVAL POSTGRADUATE SCHOOL MONTEREY, CALIFORNIA MBA PROFESSIONAL REPORT Business Plan for the JABEZ Records, Selling Out: Musicians, Autonomy, and Compromise in the Digital Age, The forms of value creation in music intermediaries-Intermediation and disintermediation in the music industry. Dexterity® Record Label Company will build a solid business structure that can support the growth of our business. This Template is designed in professional business plan format and includes components such as a MISSION STATEMENT, EXECUTIVE SUMMARY, COMPANY DESCRIPTION , INDUSTRY ANALYSIS , MARKETING & PROMOTION, THE FINANCIAL PLAN and much more. The music label will help promote the recording artist and the recording artist also will give publicity to the record label. 8% of the sales are controlled by Indie record labels, a less commercial version of the large corporations. On more serious note, starting your own record label is to a large extent dependent on your preference and budget. When it comes to acquiring a computer, we just have to budget for high end computer designed for such purpose. Dexterity® Record Label Company is established with the aim of maximizing profits in the music industry and we are going to go all the way to ensure that we do all it takes to attract music artists that will sign under our record label. Watch Queue Queue. We know that if we continue to produce hit songs and albums, there will be steady flow of income for the organization. When it comes to music, there are no exemptions to who you can sell to. Explain to them the type of record label business you are operating and the status; for example, are you a startup or do you have a record label that you would like to grow. Basically, it is not expensive starting a record label company in the United States of America. But when it comes to sourcing for recording artist to sign on to your record label, you will probably get a good catch from the 16 – 35 age bracket. One good thing about starting a record label is that even if you decided to start it in the United States of America, your market will not be restricted to artists in the U.S.; the world will be your target market. Part of what the business consultant did was to work with the management of the company in conducting a SWOT analysis for Dexterity® Record Label Company. Dexterity® Record Label Company is going to start as a private business that will be solely owned by Dexter Clinton and Mack Hamilton. No doubt, hourly billing for music studios is a long – time tradition in the industry. Different genre of music appeals to different group of people. We have also prepared a good budget for monitor; monitor is one of the most important gadgets we would need in starting our own record label and record studio. However, for some types of music / record contracts, flat fees are adopted. Dexterity® Record Label Company is to become a specialist in turning upcoming musical artists into starts / celebrities and already made music artists / starts into mega – super stars. For example, give a … the songs’ track numbers). Writing a Music Festival Business Plan [Sample Template], A Sample Artiste Management Business Plan Template, A Sample Music Streaming Service (Spotify) Business Plan Template, A Sample Music School Business Plan Template, A Sample Music Store Business Plan Template, A Sample DJ School Business Plan Template, How to Write a Mobile DJ Business Plan [Sample Template], Writing a Recording Studio Business Plan [Sample Template], How to Write a Dance Studio Business Plan [Sample Template], Writing a Music Production Business Plan [Sample Template]. Are you planning to write a record label business plan, but do not know where to begin? Responsible for handle any sound related job for the company; helps achieve certain specific sounds or feelings to portray through that matches with the lyrics. Take for example a grant proposal created by an individual or an entity to convince an institution to fund a project to address issues in a community. Responsible for providing direction for the firm. Record label business plan financial projection sample sources of income dexterity record label company is established with the aim of maximizing profits in the music industry and we are going to go all the way to ensure that we do all it takes to attract music artists that will sign under our record label. All they need to do is to release free downloads on their website. The opportunities in the music industry are massive and we are ready to take advantage of any opportunity that comes our way. Over and above, our target market cuts across people of different class and people from all walks of life. Then cables (nothing else but mogami cables. Watch Queue Queue Here's is How to Write a Business Plan BUSINESS DESCRIPTION. Mt. They are the group of people that are that are ready to music career. The company plans to produce artists on four separate record labels. Hood Records music recording producer business plan products and services. FirstBrilliant Pop RecordsGroup is a new Record Label, concept , Record Label business. Responsible for mixing and producing beats and sounds for our clients; mix the songs into the final version for the music album. We would need to create budget for pre amp. Are you a music lover? The promotion and marketing facets of the record business are vital to REC's overall success. This could include a front cover, contents page, detailed charts and forecasts, as well as a clear and inspirational executive summary or mission statement at the very beginning. Mission Statement. Even the strong growth in streaming revenues was not enough to stop the music industry globally from experiencing income dropping below US $15bn for the first time in recent years in 2014. They are now more concern in spreading the marketing of their record label to the rest part of the world. Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Badoo, Google+ and other platforms (music online forums) to promote our business. The Record Company Music Label business plan startup and operating course, provides an extensive set of template, example and sample documents for starting and running a Record Company Music Label business and contains lectures on how to customize them. Record label business plan sample. You could budget and spend millions of dollars, or you could choose to spend moderately; far below a million dollar. You can download the paper by clicking the button above. Offer Pro Bono services as part of our community social responsibility (Organize community based musical talent hunt shows), Ensure that our banners are well positioned during our musical tours, Brand all our official cars / buses and ensure that our trademark label is boldly printed in all our music album covers and CDs et al, Reference monitors, which are loudspeakers with a flat frequency response, Outboard effects, such as compressors, reverbs, or equalizers, The Total Fee for incorporating the Business in New York –, The budget for Liability insurance, permits and license –, The Amount needed to acquire a suitable Office facility with enough space for standard music studio in a business district 6 months (Re – Construction of the facility inclusive) –, The Cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) –, The cost for equipping the music studio with the required gadgets –, The Cost of Launching your official Website –, Budget for paying at least 5 employees for 3 months and utility bills –, Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) –, Generate part of the start – up capital from personal savings, Source for soft loans from family members and friends. With the advent of the internet, it has now become pretty much easier for music labels to increase their range of operations. We will work towards becoming one of the largest managers of reigning musical artist in the United States of America and other parts of the world with musical album hits back to back in the music industry. We are aware of this which is why we have decided to offer a wide range of music services and also to work with both upcoming music artists and well established music artist. These corporations control over 87% of the CD sales in this country. Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members. Facilitates and coordinates strategic sessions. Running a successful record label is like running any other successful business, first and foremost you need a plan.. Every business I have started has begun with a plan. Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. Owning a record label is basically about helping recording artists release their music album or singles to the general public and the process starts with agreeing on a deal or contract and then writing out the music lyrics before entering the studio to start work. If the music is good it wouldn’t be too long before it trends on a global stage. Fearless is a record label that strives to create equal opportunity for female artists in the music industry. The following steps will guide you through the process of writing a business plan. Produces information by transcribing, formatting, inputting, editing, retrieving, copying, and transmitting text, data, and graphics; coordinating case preparation. Well, there is no need to worry. Dexterity® Record Label Company is going to offer varieties of services within the scope of the music industry in the United States of America. When you set up the structure and take the time and steps to put those plans in place from the beginning, you will have a … To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. The business proposal for record label document is a plan that shows how you can make money with a record label that signs, records, and promotes new acts, typically within one or two defined musical genres and within one region of the world. Below is the business structure that we will build Dexterity® Record Label Company; Dexterity® Record Label Company engaged the services of a core professional in the area of record label and music consulting and structuring to assist the organization in building a standard record label company that can favorably compete with other leading record label company in the United States of America. The amount required to start a record label company may vary slightly from country to country and from states to states. Sorry, preview is currently unavailable. Home〉Business Plan〉Record Label Business Plan Template Free By Luella W at September 21 2020 17:47:24 When you sit down to compile all of the elements of your business plan, make sure you have each section able to stand on its own merits. Part of the factors that can influence the start – up cost of a record label is the amount needed to rent or lease a facility, the cost of the equipment you would need and the money needed to brand your business et al. Next, provide an overview of each of the subsequent sections of your plan. Monday the 23rd Matthew. Intellectual Property Protection and Record Label Trademark: Opening of Corporate Bank Accounts various banks in the United States: Application and Obtaining Tax Payer’s ID: Application for business license and permit: Purchase of All form of Insurance for the Business: Generating part of the start – up capital from the founder: Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Purchase of the Needed studio / musical gadgets, furniture, office equipment, electronic appliances and facility facelift: Creating Official Website for the Company: Creating Awareness for the business (Business PR): Health and Safety and Fire Safety Arrangement: Establishing business relationship with key players in the industry. Responsible for tracking hours during studio session and billing clients. My business plan is to set up a music record label (7th Records) that will be based in Lagos, the capital of Nigeria. Dexterity® Record Label Company might be a new entrant into the record label / music industry in the United States of America, but we are coming into the industry with core professionals and of course a standard world – class recording studio with the best equipment in the industry. Owning a record label is basically about helping recording artists release their music album or singles to the general public and the process starts with agreeing on a deal or contract and then writing out the music lyrics before entering the studio to start work. Understand your market. Most labels take the shot gun approach to sales. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations. Responsible for developing and managing financial systems and policies, Ensuring compliance with taxation legislation, Handles all financial transactions for the company, Serves as internal auditor for the company, Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level, Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services, Manages administrative duties assigned by the manager in an effective and timely manner, Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. these are the best audio cable in the market for now; although we may explore other options). Helps to decide the order the songs will play in throughout the album (i.e. The truth is that with the advancement of technology, it is now easier for new record labels to come into the industry and compete with existing record label. Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments. Generating Funding / Startup Capital for Dexterity® Record Label Company. This is irrespective of whether you are a performing musician, a studio manager, a disc jockey, et al. The trend in the music industry is that most recording label companies are now leveraging on the internet to spread their tentacles and increase their revenues; they know that it pays not to concentrate only in the U.S. market. From past experience, no artist wants to sign a contract that will enslave them. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business. And then all other things would fall in place as it were. Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. Our aim of starting this business is to work in tandem with both established and upcoming music artist in the United States of America and other countries of the world to help to launch their musical career or take their musical career to the next level as the case maybe. The global revenue of the music industry is estimated at 15 billion U.S. dollars in 2013, and that is about the lowest revenue recorded since 2002; of course it is an indication that the record label industry needs to become more creative and leverage on the changing tides in the world of technology. It will be a corporation whose major focus will be to capture the very talented but financially handicap artists/bands. Hood Records is a new, Portland, Oregon based record label. A music label with a large follower on social media platforms can easily promote artists under their label. What Does It Take to Start a Record Label? List of Equipment Needed to Start a Record Label, BUSINESS GROWTH: Sustainability and Expansion Strategy, How Non Profit Organizations Benefit the Society/Community, Setting up of Recording Studios for Clients, Our vision is to help upcoming music artists to become stars and to help established music artists to become mega – super stars. You need to have a mission statement that elaborates what your business plans to accomplish in the entertainment market. Responsible for recording and producing music and jingles for music artists and clients. If you are an entrepreneur and you love music, one of the easiest ways of making money from the music industry is to start your own music label; and the truth is that it is not difficult to start your own music label from the scratch in any part of the world. All they need to do is to register a recording label and pronto! It's fast and easy, with LivePlan. 12 stereo pairs minimum. All it takes to gain recognition in the music industry is to nurture a world – class music artist under your label. In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises who engage our services to help to produce musical jingles for advert purposes. It is important for computer to have a very large memory, high end graphic card, and 2.6 GHz quad core processor and we will search for good software to work with. Record Label Marketing offers a comprehensive look at the inner workings of record labels, showing how the record labels connect commercial music with consumers. Mt. Dexterity® Record Label Company will be owned majorly by Dexter Clinton and Mack Hamilton. Did you know that even if you do not have an appealing voice to sing and make money that you can still make money from the industry? Your business plan can look as polished and professional as this sample plan. This plan for a record company is quite detailed. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited. For mixer, we will opt for the Euphonix or any other brand of our choice. Both of the will be the financial of the business, but may likely welcome other partners later which is why they have decided to restrict the sourcing of his start – up capital to 3 major sources. This duo have been able to cut their teeth in the musical industry both at national level and international level. Record labels provide an opportunity for musicians from all genres to showcase their vocal and performing talents. Responsible for sourcing for music talents and grooming them, Responsible for coordinating music tours for the company, Assists in writing music lyrics for music artists, Handles any other responsibility as assigned by the Chief Executive Officer. leading the development and implementation of the overall organization’s strategy. The development led to CDs production to flow through a handful of sources, with the majority of the sales going through the “big three” record labels. Philosophy Equality, creative freedom and innovation … Our sales and marketing team will be recruited based on their vast experience in the music industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. Make your plan look and feel professional. Those who already have a thriving business in the musical scene know that talent is very key in making it big. Just like any other business, government unfavorable government policies and also economic downturn can pose a threat and challenge to the survival of a record label company. Part of the team responsible for selecting the songs that will be promoted and the songs that will be sold as singles. These days it is now easier to see people set up a recording studio in their house. In the early years of the recording industry, record labels were just the leverage any music artistes need to become successful in the music industry. Responsible for financial forecasting and risks analysis. Visitors to the web site will be able to sample music clips from DJAs artists.May 16, 2014. Enter the email address you signed up with and we'll email you a reset link. Dexterity® Record Label Company will generate income by offering the following services; One thing is certain when it comes to music; music never dies and the demand for good music will continue to grow. Our Head Office will be located in New York City, but we will have our branch offices in major cities in all regions of the United States of America – with the first two years of operation we would have set up our offices in the following locations; Las Vegas, Los Angeles, Dallas, Texas and Boston. The emu 1820m is a good one. Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. State University is becoming the first one that knowing that your paper everything they comprehend. Christians generally will prefer gospel music, older people naturally prefer countryside music and highlife, youths prefer pop, reggae, rhythm and blues et al. Our intention of starting our record label company is to make profits from the music industry and we will do all that is permitted by the law in the US to achieve our aim and ambition. As mentioned earlier, one of the very things that you would be required to bring to the table is to first and foremost have the knack for music. It will cost us about $30,000 or more. We are mindful of the fact that there is stiffer competition amongst record labels in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing. We are coming into the industry with a business concept that will enable us work with both established music artists and upcoming music artists in the United States and in other countries of the world. Print out your plan and present in an eye-catching folder or binder. At Dexterity® Record Label Company, we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in New York. Below for a sample record label business plan. Solve math problems college algebra funny college homework images. This means that we will need a good audio inter face with multiple inputs. It doesn't need to be fifty pages worth of the minutiae account details but it is important to write down what your goals are for the first 12 months.. The fact that revenue is nose – diving in the industry does not in a way stop some record label from declaring profits year in year out. The factors that is responsible for encouraging entrepreneurs to start their own music recording label is the fact that they can easily become an instant celebrity on the global stage if they can successfully produce a world class music artist. Dexterity® Record Label Company is going to be a self-administered and a self-managed record label / musical company. Sample Record Label Business Plan Template #78552, written on Monday, February 21, 2011 6:31:50 PM, in Harlingen, . Our mission as a record label is to build a business that will help our clients achieve their highest dreams within the shortest time possible and to be listed amongst the top 10 record label companies in the world. Dexterity® Record Label Company will at all times demonstrate her commitment to sustainability, both individually and as a record label, by actively participating in our communities and integrating sustainable business practices wherever possible. Emerging record labels are recognizing these new players and capitalizing on their strengths: giving fans more say in the recording process, … That is basically how the market is segmented. It is easier for a record label to attract influx of upcoming artists if the record label is well established and recognized. We are aware that when one commences a record label, the profits might not come in immediately, but if there is continuity in the business, it wouldn’t be too long before one gains fame and fortune. We know that if we implement our business strategies, we will grow our record label / music business beyond New York City, New York to other states in the U.S in record time. We will ensure that we give all artists under our label good value for their money, time and talent; these are part of what will count as a competitive advantage for us. Our business goal is to grow our record label to become one of the top 10 record label company in the United States of America, which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the U.S but in the world stage as well. Defining job positions for recruitment and managing interviewing process, Carrying out staff induction for new team members, Responsible for training, evaluation and assessment of employees, Responsible for arranging travel, meetings and appointments, Designs job descriptions with KPI to drive performance management for clients, Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes. The internet and social media platforms now makes it pretty easier for record labels both legally registered and un – registered to promote their company and attract new artist as well. Technology and the internet which of course is a major tool for the advancement and gains achieved in the music industry can also poses a threat to the industry. We will ensure that we hire competent hands to help us build the business of our dream. When it comes to purchasing microphones and head phones, we will go for Neumann u87; it will cost us about $2000 or more. They have appreciable year of experience working with some of the leading international record label companies in the United States of America prior to start their own record label company. We can confidently say that we have a robust financial standing and we are ready to take on any challenge that we encounter in the industry. Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries. In recent time in the music industry, a larger percentage of recording artists have become increasingly dependent on record labels to promote them and increase their consumer base. Sample business plan for a record label. Statistics has it that in 2013 the three largest markets in the music industry, measured by the revenue they generated were the united states of America, Japan and Germany. We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond New York City, New York to other states in the U.S. and even the global market. Once the album is ready, then the marketing team will go out to market and promote the album, Identifies, prioritizes, and reaches out to new partners, and business opportunities et al. This has been written based on our experiences with the plan proving to be successful for a labels growth and development. As part of our plans to make artists under our label and our customers our number one priority and to become one of the leading record label company in New York City, we have perfected plans to work with our clients to deliver music projects that can favorably compete with the best in the industry at an affordable and reasonable price, within the stipulated completion date barring any unforeseen circumstance and also to help artistes under our record label gain international recognition within a short period of time. The fact that we are set to compete with other leading record label companies in the world, means that we must build a business structure that can support our business goal. Large extent dependent on your preference and budget be solely owned by Dexter Clinton and Mack.... ( especially with is sweet sounding preamp and on board compressors ) or any other brand of our choice label! And services it has now become pretty much easier for music studios is a record is. 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