Scared Money Don't Make None

So I've been advising this company which wants to release an unsigned artist.  The artist already has one older sibling in the industry with some modicum of success, and the group behind this current effort wants to capitalize on the upcoming release of the older sibling's second album.

We've been doing this dance for the last couple of weeks, involving me trying to convince them about the proper way to proceed.  I've made it clear that in no uncertain terms, they're going to have to spend money.  As the saying goes, 'scared money don't make none.'  I've also made it abundantly clear, that if they're looking for favors, or expect people to come on board because of the 'opportunity' of working with this artist, they're tripping.

In my opinion, this kid has a chance to be successful.  He's young, has a great voice, a marketable look, but he doesn't have the kind of cache, where anyone will be going out of their way to put him on.  In this current climate, and with the labels folding, scaling back, and generally scratching their heads trying to figure out how to connect with the public (and generate record sales) any artist interested in making it in this industry needs to disabuse themselves of the impression that they're the 'next best thing.'

As I've said, there is always the potential that this kid will have breakout success.  But today he has nothing.  There is no demo, no single, EP or LP.  There is no website, Mypsace, Facebook or any other significant web presence.  There are no songs, no rehearsal schedule, no marketing plan, no producer, songwriters, stylists, management or any other critical piece necessary for this thing to come to fruition.

What there is, though, is a committed group of individuals, who recognize that they're out of their element, and require expert assistance if they are going to make their fantasy of success for this artist a reality.  They have already been through the older sibling's music industry 101, and are now completely versed on the bang up job the industry does with the uninitiated.  Due to the collective lack of experience they had (at the time this artist got their deal with the label), the artist got burned.  

The main reason I'm involved is because my boy called me one day, and told me to give these guys a call because they needed help.  While I can clearly see the potential, map a path to success and help them execute the plan, the reality is that I am not prepared to be second guessed.

I'm going to meet the principals today.  I expect that we'll hash out all the details, and I'll be able to put everything in perspective one time.  If not, I'm going to have to decouple from these cats.  As excited as I may be about anything, I'm no longer interested in waging warfare with my clients about what they should be doing.  I had enough of that in my practice.  I'll give my two cents, and leave it to you to decide what to do.  

I'm certain that this would be a much more interesting rant if I could talk in specifics (and not all this cloak-and-dagger non-specific babble), but for the time being, I can't.  However, if all goes well, I'll be talking about this act all the time, so stay tuned.

Coming Full Circle

I've been running into lots of former clients recently, that I used to represent before I closed my practice, who are increasingly seeking out ways to properly monetize their assets.  From producers to performance artists (rappers, singers, rockers), they are universally arriving at a stage of enlightenment that I preached back in the day.

Essentially, they have come to realize that "DIY" (Do-It-Yourself) is the order of the day.  Instead of chasing the brass ring, and holding onto the dream of a major record label deal (if you didn't get the memo, they're fairly hard to come by), I advocated putting in the work and reaping the fruits of their labor.  I could never reconcile the lopsided nature and the sheer inequity of recording agreements.  

I used to offer my clients the analogy of a mortgage when it came to signing recording or production deals.  You see, when you purchase a house and take out a mortgage, you're agreeing to repay the loan to the bank, with interest.  When your mortgage is repaid, you own the title to your house, free and clear.  But when you're lender is the record label, even when you've paid them back in full, plus interest (and the label is fully recouped), they still own your masters IN PERPETUITY (that means forever).  So there was always a negative incentive to entering a recording agreement, that never went away.

The few clients who understood my analogy were bummed, but felt that it was worth it to get the "exposure" that came with signing to a major label.  A lot of those folks are flipping burgers or telemarketing now.  Still others felt that they would be so famous and do so well that they would force the label to renegotiate their deal or they would 'find God' (as a means of forcing he label to renegotiate or lose their asset).  I don't recall getting any RIAA plaques from anyone...perhaps it got lost in the mail.  

The one group of people who got the message loud and clear were the ones who rejected those lopsided offers, and redoubled their efforts to go I-N-D-E-P-E-N-D-E-N-T (shout out to Webbie).  A few of those cats have sought me out for some more doses of the good business advice I was doling out back-in-the-day.  And I'm more than happy to oblige because they are well on their way to independent success.

Unlike those who think that success occurs overnight, these folks have been grinding it out, developing their personal and professional networks, tightening up their catalogues, researching publishing, digital media and distribution mechanisms, and generally honing heir business skills.  I find our interactions are light years further than we were when we first linked up, and incredibly productive.

So I'd say look out for Face Fashion, Dough Lo Entertainment, Omar Jermaine, U.G.O., and pretty much anyone else who's name gets dropped in this blog.  The mere fact that I am dealing with them is reason enough to follow my lead, but if you're looking for more, watch, wait and listen, and the proof will manifest itself right before your eyes.