Record labels have the task of finding new artists to sign to their label. They also have to manage those artists and help them throughout their careers. These can be daunting tasks, but there are ways to go about finding and managing artists that can make the process easier. This article will delve into some valuable tips on how to locate and manage artists for your record label, including considerations related to record label artists’ salary.
Strategies For Finding Great Talent
First, let’s talk about how to find great talent. There are many ways to do this and we discuss a few of them below.
Check Out Music Clubs And Gigs
One way to find new talent is by checking out music clubs and gigs. This can be a great way to see new artists in person and get a feel for their stage presence. You can also talk to other people who are there to see if they have any recommendations. To find music clubs and gigs in your area, you can search online or ask friends and co-workers.
Look Through Social Media
Social media is another great place to find new talent. You can search for hashtags related to music or look through profiles of people who are in the music industry. If you find someone who looks promising, you can reach out to them and see if they’re interested in working with your label.
Be Open To Suggestions From Other Artists Or Your Network Connections
Another great way to find new talent is by asking other artists or people in your network for recommendations. They may know of someone who would be a good fit for your label. And, if you’re already working with someone, they’re more likely to vouch for them.
Tips For Managing Your Artists
Now that we’ve gone over how to find new talent, let’s talk about how to manage them.
Set Goals for Them
One of the first things you should do when you sign an artist is to set goals for them. What do you want them to achieve in their career? How can they grow as artists? Once you have a plan for them, you can help them work toward those goals.
Encourage Them to Be Creative
It’s important to encourage your artists to be creative. This means giving them the freedom to experiment with their art and not putting too many restrictions on them. Of course, you’ll want to approve any final product before it’s released, but it’s important to give them the space to be creative.
Help Them With Their Finances
Another important aspect of managing your artists is helping them with their finances. This includes things like budgeting, bookkeeping, and taxes. It’s important to make sure they’re staying on top of their finances so that they can focus on their art.
Find Great Gigs And Deals for Them
As a manager, it’s also your job to help your artists find great gigs and deals. This includes finding venues for their performances, getting them sponsorships, and helping them negotiate contracts.
Promote Their Music
One of the most important tasks you will have is to promote your artists’ music. This includes things like social media marketing, print marketing, and radio promotion. You’ll want to make sure that their music reaches as many people as possible.
Provide Support During Challenges
It’s also important to provide support during challenges. This includes anything from one of your artists experiencing a creative block to an artist with personal problems. As a manager, you should be there for your artists when they need you.
Protect Your Artist From Poor Contracts & Relationships
Finally, you should protect your artists from bad deals. This includes things like contracts that are unfair, promoters who aren’t reputable, and any other situation that could take advantage of the artist.
Average Earnings You Can Expect To Make As A Manager
So now that you know how to find and manage artists, you’re probably wondering how much money you can make as a manager. The answer depends on a few factors, such as the type of contracts you have with them, the number of streams or sales they get, and how successful they are.
In general, record labels receive around 15% of an artist’s earnings. This includes things like royalties from streaming services, sales of physical albums, and performance fees. So, if an artist earns $100,000, the record label would receive around $15,000.
Of course, this is just an average, and you may receive more or less, depending on the factors mentioned earlier. For example, if an artist is very successful, you may receive a higher percentage of their earnings. Or, if you have a contract that gives you a larger share of the profits, you may receive more money.
The Bottom Line
Finding and managing artists for your record label can be a great way to earn money. By following the tips in this article, you can find great talent and help them reach their potential. And, by providing support and promoting their music, you can ensure that your artists are successful. So, what are you waiting for? Start your search for new artists today!