Scholars describe music as everyone’s way of life irrespective of age, gender, culture, or race. Music is all over with the ability to encourage and condole, as well as bring joy and comfort to everyone. Hence, music is not an elite activity for a few musical people as anyone can participate in its creation and performance. Music is exceedingly broad field with a lot of different jobs. Professions in this industry include a musician, music producer, music consultant, ghost writer, wedding singer, a deejay, and a blogger among other jobs (Shaun). The music industry has been transformed to make it even more professional and business-oriented. The art of business helps the music industry grow bigger. Business concepts and ideas play a crucial role in helping musicians grow into greater heights. Business firms, too, promote musicians for the sake of unveiling their potential. There are some of the ways presented below, in which business helps the music industry.
HOW BUSINESS HELPS MUSIC
Marketing. People in the music industry get to learn better marketing strategies and start to understand how it is best to access their fans and penetrate deeper into the market. Musicians need to do more than just releasing a song for them to retain viability in this industry. The obligation of the musician to research and understand the needs of the audience and release quality work meets these needs. Organizations like the Independent Music Advice (IMA) have business academies that help artists learn about the music business (Shaun). In this case, musicians get better marketing skills that move them forward. There are varied marketing strategies that musicians adopt to increase their fan bases. One such way is organising live shows in high schools and colleges, as well as taking part in city and country events. The Indie Label BME Recordings (Lil’ Jon & the Eastside Boys, Lil Scrappy, etc) got jumpstarted by doing house party promotions (Passman 234). Other strategies include sharing an artist’s work through social media such as Youtube in order to reach a wider audience. Sound implementation of these marketing strategies promises greater market share to the artistes. This, in turn, promotes the growth of the music industry.
Corporate Promotions. More frequently corporate companies introduce new products into the market. These companies raise consumer’s awareness of the new products through a series of product promotions and advertisements. Often, the companies form contract partnership with well-established artists in the music industry to help them in promotion of their product. This approach has multiple gains to both the firm and the artist. The firm accomplishes its goal of persuasive advertisement and product awareness. On the other hand, the artist has the benefit of reaching out to his or her fans and strengthening their rapport. In addition to this, the artist benefits from the monetary value attached to this contract. These kinds of corporate promotions in the business fraternity help grow the music industry, as well (Shaun).
Entrepreneurship. With the business field daily growing broader, several entrepreneurs come up with others specializing in the sale of music products. This creates a good support for the music artists to sell their products. The demand for quality music products and healthy competition among artists for market share leads to the recording of good work. This helps the music industry remain competitively fascinating and thus it successfully develops. Apart from the music shops, artists sell their products such as compact disks at the various live performances. Their music and related videos are also downloaded from various websites at a certain charge. Mobile phone ringtones are as well downloaded at a cost (Grant 147). All these factors create entrepreneurial backgrounds, used by the musicians to penetrate into the market and sell their products. Entrepreneurship, thus, helps the music industry remain competitively viable and prosperous.
Talent Search. One of the obligations of media organisations is to improve the social well-being of the audience. They consider it a way of giving back to the society for its continued support of these firms in a manner of sharing profit. Several media houses conduct this role in a different manner. One of these ways is that the media houses search for talented people in various towns aimed at tapping the new discoveries that have not been exposed. Once identified, the upcoming artists are attached to reputable music producers and consultants that help them develop and grow their music talents. Media houses also give airtime to different music artists to help them present their work to the audience. This serves as a medium that assists the artists in reaching a large number of audiences at once. This social responsibility or obligation of the media industry helps in the music industry development.
Investment. Contemporary music industry incorporates professionalism. It means that its main purpose is to make music a profession. Musicians need to be provided with the knowledge of sound investment and policies to make skilful use of the money obtained from their activities. Music artists need music consultants and managers that give sound advice in order to help them gain full control of their activities. Records state that some artists end up dying in abject poverty even if there was a time when they ruled the world with their quality work (Shaun). The ideas of wise investment help music artists acquire more cash to supplement their collections from the music industry. These returns help artists expand their music industry.
To conclude, business helps music in a wide number of ways. Both business principles and business firms boost the music industry. Marketing, corporate promotions, entrepreneurship, talent search and investment ideas advance the music industry tremendously.