Top 5 Myths About The Music Industry

Sep 10, 2017 by

If you are involved in the entertainment business, then you have probably heard of a few Chinese tales. The following is a list of some of the major myths about the music business.

1. People In The Music Business Will Help You Out Of The Goodness Of Your Hearts.

Acts:

The music business is called the music business for a reason. It is a business that only gives the circumstance of selling music. Businesses are in business to make money. They are not in the business of making art, however they will sell it. You can find a handful of good Samaritans willing to help for free, but generally speaking if helping does not benefit the other party, they will not help.

2. Since The Economic Downturn People Are Not Buying More Music

Acts:

People are buying music, but they are not buying it in the same way as before. CD sales may be down, but selling individual tracks is up! If you are still an unbeliever just check the iTunes sales records. Apparently, Apple has sold 10 billion and counting!

3. Music Superstars Have And Are Making Tons Of Money.

This is one of the biggest myths in the entertainment business. When you see a Sean Kingston or Lady Gaga on TV you may think you are living the good life but in reality the amount of money he / she brings home is really dependent on the terms of your contractual obligations as well your money management skills. Simply put, if you spend more than you earn you are bound to go bankrupt, sooner or later.

You Need More? The List Is Endless.

The fact of the matter is that all these artists have seen the ups and downs of the music industry. Micheal Jackson, the “King of Pop”, although he had his money problems. No “superstar” is exempt. You need good money management skills in order to maintain a “superstar” lifestyle.

4. You Can Become A Night Celebrity In The Music Business.

This is one of the most common myths about the music business. People believe that you can sign a recording contract and then suddenly you are magically on magazine covers and receive Grammy awards. All this talk is silly. At the end of the day, it takes a good amount of leg work, dedication, passion, perseverance, and strong networking relationships to achieve “success” in the music business. NOBODY HAS BECOME A NIGHT WITH SUCCESS However, some people have achieved their goals faster than others. Artists like Wiz Khalifa, Kanye West and Eminem spent years developing their reputation and brands to become the people they are today. This is why working smarter and not harder is essential in the music business.

5. Triumph Work Ethic Talent

In today’s music business, talent continues to count but ethical counts work for more. A person of extraordinary talent with average work ethic generally will not do so as someone with an extraordinary work ethic and talent of the average.

A strong work ethic, more often than not, means that it can be constant which is of paramount importance in the music business. If you need more fans and likes on the world’s biggest talent network, check out our awesome Musically follower app.

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