This is a really nice wee documentary about professionalism within the music industry which I was interviewed for a while back. There’s lots of good stuff in there, and it’s pretty brief too, so you’ve no excuse not to watch the whole lot. Made by the excellent Alex Watson – thanks Alex!
I’ve not really expressed this thought before, but one of the points I make in the video doesn’t get discussed that often. I was asked about the continuing importance of labels and I had this to say, more or less:
Labels are still hugely important. They have experience releasing records, an audience of their own, and they have contacts and a reputation within the industry which is crucial. Where labels’ role is changing is that they no longer control the relationships and processes which make the most money.
As labels have less cash, bands are increasingly recording their own albums or funding the recording themselves and that means they control all their own copyrights. As publishing becomes an increasingly important revenue stream, that means that the money flows between the band and their publisher and the label often has little to do with it. Most labels have no way of involving themselves in live revenues either, and if a band can afford to do it, they generally (and should) control their own merch too, and the profit margins there can be decent as well.
Consequently if you’re just licensing someone else’s intellectual property, manufacturing it and announcing its release, it’s actually a relatively limited financial model you have to operate within as a modern independent label.
And there you go, that’s today’s wee thought to chew on, if you’re of a mind to ponder the inner rumblings of the music industry in the 21st Century.