Music Business- Music is one thing that can make everyone happy. There is dangdut music, rock, pop, hip hop, jazz, and many more. The types also vary, there is punk, hip-hop, dance music, classical music, you name it.
Every day, new music emerges. Not only the music, every day new musicians are born. No wonder now that music-related platforms are also very popular, such as Spotify, Youtube, and JOOX, each of which offers a different music listening experience.
Not only music applications, but nowadays there are also many concerts or music festivals featuring top musicians or indie musicians from within or outside the country. Music festivals such as Djakarta Warehouse Project (DWP) and We The Fest (WTF) are always eagerly awaited by music lovers.
Types of Potential Businesses in the Music Industry
1. Manage a recording studio
This business provides space for new or well-known musicians to process the music they create or use as a place for practice. The prospect of a recording studio business can be said to be very bright considering that many budding musicians are emerging.
To start this business, you need a room of at least 4×4 meters that is equipped with silencers and all musical instruments and other devices that allow bands or musicians to play their music. For the rental price, you can adjust it to the pockets of young people and the facilities you provide.
2. Concert promoter
Being a concert promoter allows you to work at big events with famous musicians and musicians. From planning an event program to contacting related musicians to attend your concert, being a concert promoter is an exciting business to be in. Who knows, you’ll end up working with your favorite musician instead, right?
However, when it comes to concerts in this pandemic era, new concepts are emerging, one of which is virtual concerts. It’s also an interesting business to explore!
3. Develop music applications
As previously mentioned, there are now many applications or music platforms that offer a music listening experience with a different sensation. Apps like Spotify, Apple Music, or JOOX each have their advantages.
For that, why don’t you try to develop music applications according to the wishes and tastes of the market? By starting a business in this field, you can provide an opportunity for musicians to showcase their music and make money, you know.
4. Manage music YouTube channel
In this era of influencers and YouTubers, many Youtube channels offer music-related content. You can promote the work of certain musicians and make money from fans and loyal listeners of brands globally.
The contents that you can display on your Youtube channel, for example, are making daily tour vlogs, the daily lives of musicians when they are not on tour, the process of making songs or albums, and to question and answer videos for fans who want to know more deeply. with his favorite musician. When many people have watched your video, you can earn money from the ads listed on your video.
5. Selling beats and samples
If you are more interested in being in the field of music creation, a beat and song sample business could be the right choice for you. You can mix and master to create a different beat than usual. Later, interesting labels or musicians will contact you to use beats or samples of songs that you have created.
When people buy a beat or song sample from you, they’re buying a license to use that beat in their music. Well, from here, you can earn quite a bit of income, you know. If the beat or sample of the song that you created and purchased sells in the market, you will get royalty money continuously.
6. Write a song or lyrics
Music does not only involve the sound of playing musical instruments, but some require catchy lyrics to attract the attention of the market. Well, if you are talented in writing songs or lyrics, don’t waste this business prospect.
A songwriter’s income usually comes from royalties for using their work on commercial music platforms. You also have the potential to work with musicians you like. A business in this field will be successful if you are creative and can ‘read’ market conditions.
7. Selling rare physical releases
Well, in today’s digital era, it’s getting difficult to find physical releases of music. This makes cassettes, CDs, or LPs a rare item. You can use this opportunity as a place to do business. Moreover, there are still many music lovers who are looking for or hunting for physical releases from their favorite musicians.
Because of this rarity factor, you can sell physical releases at a fairly high price. There are still many people who are willing to spend a lot of money on cassettes or LPs for their favorite musicians. You can market your business online or open an offline store.
Those are some business ideas that you can pursue in today’s era. Of all the business prospects above, which one are you most interested in?