Entering themusic businessworld and launchingan independentrecord label can be as rewarding as it is challenging in 2017.
Why? Well, with the rise of digital music, streaming andchanges to copyright legislation alongsidetraditional distribution models, the industry'slandscape is everevolving. It meansaspiring music industry moguls are often confronted by a constantly changing set of obstacles and opportunities.
The road of record label management is apathtaken by ICMP music business student and Payne Records CEO Miguel Tello. Inspired by his time at with us, Miguel has been busy tinkering on the mechanics of setting up the imprint and working towards releasing new music in 2018.
He wasalso among six candidates shortlisted tostand for election as an independent representative to the BPI Council. Although, Miguel wasn't successful in his bid to join the council, he's still well placed to provideplenty of insight into what's needed to set up a label. Check out his top tips for success below...
Seek advice from your networks
I believe you need to be surrounded with people that can give you the right advice about setting up alabel at the right time. In my case,Ditto Musicwasreally helpful in setting me off on my way.
Look after your business
Initially you need to have your label registered with Companies House, PPL andhave your business bank account. Thenyou can start to give shape to the label, the music and the aesthetic.
Establish an ethos for your label
Our label wants to be a home for the next generation of artists.
We want to give avoice to all the people that have difficulties indeveloping themselves as artists. We're looking into those we believe havewith a special talent but are as yet undiscovered.
Think about distribution and how music fans are going to discover your music
We are living in a world where our industry is all about digital and streaming services. So we have decided to collaborate with Ditto Music. They offer an exceptional service where all our releases are distributed through every relevant online platform.
Make the most of new technology
We market our acts mostly through different apps astheyoung generation spends most of the time on theirsmartphones. So we're in the process of organising different events and activities through these platforms, especially with the streaming services, to target these potential fans.
We are usingStation Head, a new app which allows you to create your own live radio 24 hours, playing music from a Spotify Premium Playlist. Every time thatsong is played on the app, the artist is paid as one stream. It means thatif there are a considerable amount of listeners for that song, the artist is in a great position to boost their streaming revenue as well as grow theirfanbase.At the moment, its only available on IOS and Spotify but it will be very soon available across all devices and platforms.
Know and care about your artists
It’s very important for us to know the personality of the artist, what they need, what they'relooking for, and give the artistenough freedom to be themselves.
Indie music is in good health ... although more work could be done to support new acts
There is a wealth of ideas, perspectives in the indie industry. At the same time,I still believe that there is too much work to do. We still need to give support to unsigned talent and artists thathaven't yet been recognised.
Use playlists to market your music
Fans don't buy physical records as they used to. It means most of the activity in the official charts comes from digital music, particularly streaming. I guess thismakes everything easier forfans to access their favourite tracks. So I thinkit's fundamental to market artists to these listenersusing playlists. You can highlight the release that you are promoting, then follow it up withdifferent tracks. You can also try and include the track in the morepopular playlists that the platform offers.
Make no mistake, it’s tough
When you are inside the industry, and you start to have meetings with managers, artists and different clients,you start to realise how tough it is, and how difficult is if you want to be taken seriously. Only time and hard work can give you that recognition.
But it is possible to make your dreams into reality
Music has always been my passion since I was a child. One of my dreams was to work as A&R, find talent, develop and help artists to release music.
ICMP was an incredible inspiration for me last year and I want to give specialmention to one of our incredible teachers,Yannis Iliopoulos. His lectures were really inspiring and made me realise that it’s possible to make a dream a reality.
Visitthe Payne Records Facebook pageto find out more about Miguel and his label.