I will try to answer some of the questions, I’m asked especially from fast rising artists and those who understand that learning is a continuous thing.
When making a music business plan, what and what should I include? When making a music business plan whether you have a label or not, whether you are up and coming or not, there are 4 basic things you need to include in your plan.
1. Artist development/growth: You need to understand that every product needs the development stage, you need to research and understand your market, just like in economics, there are the 3 basic questions you should always ask yourself, how to produce, for who to produce and what to produce, always have that in mind when thinking of making that plan.
Every great music project started with proper research, don’t think people just go to the studio to record, they actually did their research ask Seun Kuti, he is an avid reader who makes music that address societal issues, if he doesn’t read and research he won’t really know what he talks about.
2. Promotion: You need to think about the best way to go about promoting your music and content to make sure it gets to your target audience, the people you are making that music for, whether na government you dey try insult, if them nor hear the music then whatever you are doing is a waste. You need to plan to get the required airplay you need, how you go about it, those you need to settle and those you have a standard relationship with, which station supports your kind of music, don’t go about sending these materials to the wrong station, you need to check if the track Is the Alaba kind of song or not. Consider that in your plan.
3. Publicity is very important: You need to look for a way to create media buzz, and that is exactly the point I was trying to make with Morachi the last time, you are making a comeback, above going round to promote the music, make plans to be in the news, both mainstream media and online, print media helps create major buzz. For your brand, even when the music is not there, always device ways to be in the minds of people.
4. Performance/appearances: People want to put a face to that music and the buzz, they want to see you, it is very important your team gets a place for you to perform, it doesn’t have to be the big Eko Hotel events or anything like that, it could be a weekly performance at BOGOBIRI, or campus performances depending on the kind of brand you are building, in the music industry of today bulk of artist earnings come from shows and appearances, and the sad truth is, it’s not everyone that can get bookings from promoters, but everyone who is not getting can plan to create their own no matter how small it is.
Written By: Kaycee Ichie Oguejiofor