CEO Morning Show Episode 9 From 5/13/2020
Today we brought in our favorite entertainment attorney Karl Fowlkes to hear his take on how the music industry has changed since quarantine 2020 started. He gave us the insider information on how the artists and labels have pivoted their business strategies to overcome not being able to do live shows which is the biggest revenue maker for most artists.
We had a great conversation about how much money industry producers actually make from placements and what it takes to earn a 6 figure income from placements alone. He made a very interesting point in saying a lot of industry beatmakers get "cool kid syndrome" when they start working with rappers and get their advances. What this means is they think they are too lit for selling beats online as well as drum kits & sample packs. This mindset leads to tons of money and branding opportunity getting left on the table. Getting a big advance up front from your publishing is great but many people who receive this spend them too quickly and then find themselves struggling financially if they are not able to consistently turn out big charting songs.
Another great topic from the show was when we talked about artists signing to labels. It is important to understand the mindset and approach these labels have when it comes to signing artists. They are looking for certain stats in artists and do not expect to make a return on every one they invest in.
We also did a very good live Q&A at the end where viewers got to call in and ask questions about music publishing, collecting royalties & more. This was an amazing episode and not one to sleep on!