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What Is the New Music Business?

The music business means a lot of different things to different people. What does it mean for you?

When you’re a songwriter, you have an intimate relationship with music because you write the song.

From the moment you finish your song and put it into a fixed format – that is – write out the lyric and make a simple recording of the tune – you have created property.

This property is yours to do with as you please, and it is the engine that makes your music business possible and profitable.

As songwriters, we often feel disconnected from the music business because even though we create the songs, we have less and less involvement the further along our songs get into their monetization process.

This makes thee music business seem like a mysterious, complicated, confusing and somewhat terrifying enigma.

But it doesn’t have to be that way.

You can choose to create your own business model to support your songwriting so that you turn that scary unknown into a predictable source of extra income and perpetual satisfaction.

In its simplest form, the music business is the business of making music and using that music as a driver for your profitability.

Notice I didn’t say anything about music being your actual product.

That’s because not everyone is equipped to use their music as a product. It might just be a small piece of your overall business monetization strategy.

The key is to decide what you want to accomplish with your songwriting, and then to make your sound business plan based on knowledge of the marketplace, creativity and the guidance of wise advisors.

Luckily the same three qualities that are most important to sustainable success are also the same most important qualities for success in the music business: perseverance, work ethic and being openminded.

If you would like help building your music business the right way, check out the Songpreneurs resources available in our Shop.

We have two workbooks, an online Leadership Community, in person and online events and training designed to help you develop your career given principle based, tested practices and our proprietary curriculum based programs.