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How To Start A Record Label
By Joshua Jenkins
How to start a record label
If music is your thing and you want to get involved in the industry then starting a record label could be an awesome thing to do. How you do it is up to you. There are many ways to get involved, there is no sure fire how-to methods. The music industry is home to thousands of labels. In a world where music is a multi-billion dollar business there are a lot of different people trying to profit from it. It is relatively easy to start a record label but it is by no means easy to create profits. Start small and plan big. This will ensure you know how things work from the start.
A record label is first and foremost a business, with this in mind, you have to plan for little to no financial return on your capital for a while and understand that there are no safety nets and thus the most important thing is the music and hard work. As soon as you start you will notice that the record label industry is fiercly competitive.
Start thinking in terms of genre. It is a dirty word to musicians who hate being “pigeon holed” to one style how ever it is also a vital way of categorizing your record label. It doesn't mean you can only sign hip-hop artists or punk bands, how ever it does mean you are giving you record label distinction and direction. It is also a good way of providing consumers with a name they can trust, a sure-fire bet. Getting a business plan is also an important step to start your own record label. Your level of detail is dependant on where you want to be, so it is up to you how specific you are. Continual referral to the plan will help keep everyone on track and make sure that things aren't getting stagnant (or rushed). If you want to borrow money or resources it is an excellent idea to have something physical and real to show them. This includes the business plan, the specifics of the target market, the current or future signings etc.
To begin releasing the music you have to start making or developing connections from ground zero- that is the record stores and consumers. It is a good idea to have recordings available at gigs but more importantly, you need to be selling them in stores. The store owners will usually only buy them after they have sold, this means supplying the store with cds and waiting for a return. Using distributors is a much more useful and effective method. They will take the your labels records around the country and may have international connections. Either way you do it, there will be little or no profits to start with. Even if the records are selling there is still a 60 day wait for the store owners and distributors to take their cut. Accountants and lawyers as well as creditors who lend you money will want things in writing. That is why it is important to become savvy as to the mechanics of contracts. Getting a good lawyer is a good start, doing a course in business is even better.
Starting a record label label is a good way of becoming part of the music industry. The best thing is you can be an absolute pleb when it comes to playing music. There are heaps of things to think about but some are more vital than others. Get a lawyer and get some really good bands signed to your label. Then you can start thinking about studios and money. With a lot of ambition and realistic planning you can start a record label, it is just a matter of how driven and motivated you are. Go start a record label!
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