The Music Industry WHAAAAAT!?
Artist, composer, record company, publisher, collection society, accountant, manager, lawyer, promoter, producer, booking agent, distributor, retailer, library music, production music, TV, radio, films, games, adverts, music sync synchronisation, plugger, aggregator, mechanical royalties, PRS, PPL, AIM, BPI, ISM , MU, MMF MPA, BASCA, PCAM !?!?!?!?!?
If like 99.99% of creatives, the above has left you confused, nervous and unsure of how to tread the waters of a sometime perilous music industry – then fear not!!!
The good folk over at PRS (Performing Right Society) have produced this wonderful map of the music industry universe…
This map shows what happens in each sector and how they inter-relate. It is an invaluable resource which displays a summary of how and where the business flows within the music industry and where money changes hands.
With so many avenues to explore it can be extremely daunting to know where to start, how things work, what areas relate to others, whom pays who, how music can be used and how revenue is generated from your music.
I would recommend book marking or downloading this diagram to revisit as and when you need.
Try to grasp a general understanding of all the different sectors, but focus fully on a small segment (whichever sector you feel is most relevant to you) to gain a practical feel for it inside and out.
You’ll find that once you become proficient in one small area, the other areas will start to gravitate towards you, at which point your learning will automatically blossom.
I’ve found that enjoyment is key and one of the best accelerators to learning. Keep enjoying what it is you’re doing within the music industry; whether composing, performing, managing, releasing, promoting music – and soon your network and knowledge of the wider music industry will start to naturally evolve.