Quote:
Originally Posted by innertain
-consider incorporating as just one biz and use DBA's or Service Marks (SM) for the other divisions, u can spin off later if you need and if thing work.
-try to develop and focus on a core competency, know your market and audience (nitches are good) then build a community around that nitch...
-network with other start ups and established companies / create an alliance (win/win or no deal)
-write a biz plan and a marketing plan
-keep overhead as low as possible
-lease equipment as needed
-divide and conquer
-utilize open source and white label technology
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all of the above are pretty much requirements in regards to your start-up.
i'd like to get a bit more in-depth and get to the core of what your are trying to do.
First of all, it's a great time for independent records labels to flourish. The majors current business model has repressed growth as the internet has severly cut into the market. Do yourself a favor and review the current sales percentage DECLINE over the past 4 or 5 years. The music industry has been in meltdown (their own sub-prime mortgage type disaster) for years now. It's sad.
Independents can come in with core audiences (via the internet- fanbase) much cheaper then the major's and your room for profit is much larger. It just costs majors way to much to do what they do.
Also, keep in the mind that the majors are now tweeking their models to include 360 deals. (look up the most recent Madonna deal). These deals encompass all ancillary artist income deriving from record sales, publishing, touring, and merchandising. Thats the way to make serious money on these artists. follow that model! tweek it where you need to.
With that said, you may want to begin to BRAND your "management" company first. Sign an artist to a 360 deal getting a piece of everything. In return for them signing that sort of deal you'll agree to finance and release their album (now you're branding your record label and publishing). You'll shoot the music videos (now you're branding your film company) and you design their website, myspace pages, etc... (now you're branding your design company).
While you feverishly promote the artist or artists, your "brands" are going along for the ride. people will only know your brands based on the product it is attached too. when a hot artist emerges, industry bigwigs will always want to know who made it happen behind the scene's (while they try to steal your artist!) ha!
obviously there's alot more to get into but its too much to write here.
i see you didnt mention manufacturing and distribution of the product which i'm sure you can have someone else accommodate as certain things should be left to outsourse. All the above stated things are already overwhelming although doable with the right team!
also, while you're branding your companies through your own artists, don't shy away from doing work FOR FREE for other artists as long as they and the end product is amazing. Its work upfront for free promotion.
You may find artists who are already signed to other companies who you feel have huge potential. even if you have to work for free, get your logo on their product (make that part of the deal)!!
when you build up a brand, your price begins to go up!
good luck!
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multi-media production company feedback
