Making money in the music business can be done even if you can’t sing or play an instrument. You can always become a music or concert promoter (affiliate link). The music promotion business is a good venture, but, as with any business, there are risks involved.
Do you have organizational skills, or are you good at getting events together or advertising? Those are valuable skills if you wanted to begin making money in the music business through concert promoion (affiliate link). Music promotion is a great start for your career as well as a potentially lucrative business.
If music and concert promoting (affiliate link) might sound like something that would interest you here are some things you might find helpful.
- You need to have enough money to pay for the show. As a music or concert promoter, you are responsible for securing funds for these events. You have to rent or lease the sound system, the venue, security, as well as a lot of other necessities. These necessities may include transportation for the artist(s), hotels or other lodging for them, and the payment for the artist(s). Whether the concert is a success or a complete flop, you still have to pay the artists. Please remember to put some of the capital away for the exact purpose of paying your performers.
- Shape your business image. With so much competition in the music industry, you must make certain that you create and establish a name for yourself. A great reputation and a solid image makes artists, bands, and performers want to work with you. When artists trust you, you will grow relationships with more artists, more venues, as well as helping yourself establish partnerships with television networks, radio stations, and may even help you create valuable connections with people who can potentially sponsor you.
- Knowing the legal side of being a concert promoter is a big plus. You have to know more about the contracts and binding legal agreements that are necessary to your business. Failure to know about these contracts or fill them out correctly can create problems and may cost you a lot of money in legal fees, as well as tarnish your reputation. Be sure to hire a lawyer to explain the regulations and laws involved in music promotion.
- Just because you know about the laws and or regulations in your country or state, those same regulations and laws might not be the same in different countries, or states. You may some day want to bring a group of performers out of your country and you should make sure you will not be in violation of the laws or regulations of that country or state. For example, you never know what their laws are against billboards or even hanging up or handing out fliers.
- There is a multitude of creative ways that you can use to advertise your concerts, performers, and shows. Having a gimmick or some other way that is unique to give you the edge to compete against other promoters. The internet can also be very helpful in promoting events, concerts, and music.
For more information, check out the book, Concert Promotions: A Step by Step Guide (affiliate link).