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SOUNDCONTROL MAGAZINE |
PLAY Magazine is the official customer magazine of Sound Control, going out to over 84,000 musicians and music fans across the UK. Packed full of hot interviews, gear reviews, tips on everything from recording to bass playing, competitions and much more besides, this A4 glossy mag is the ultimate read for the serious musician. Now featuring album reviews, local gig reviews and upcoming gig listings, Play is the complete read for anyone with an eye on music - out 6 times a year.
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THE NAMM ISSUE |
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 | Fancy yourself as a label boss?
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New record labels are a great platform for new music. Think of established record companies, and you may be surprised to find out just how humble their origins actually are. From Ahmet Ertegun's Atlantic Records to Trevor Horn's ZTT, an A to Z compendium of vibrant indies have enriched the music industry over many years. Driven by a passion for music, the maverick entrepreneur will always have a venerated place in the music business.
Small labels may also be a useful step to a record deal elsewhere. Look at Alan McGee's new signings - Cosmic Rough Riders. They released two albums on their own independent label before catching the attention of Poptones. Many other artists, from Simply Red to Travis, have likewise put out their own releases to raise their profile in A&R circles.
It is estimated that there are several thousand indie labels in the UK today. AIM (Association of Independent Music), set up in 1999 to assist these small firms, now has over 400 members. These companies regularly come from the most unlikely backgrounds. So, could you be next? Perhaps you will be next to set up your own small enterprise. So, how do you get it right? How do you get your new venture off on the right footing?
Well, let's take it from the roots : a record label is dependent on two key essentials - artists and copyrights. The former are your lifeblood, the latter are the building block of your business. Record labels must own their sound recordings. These are known as master rights. Those who own these copyrights can look forward to a 50 year revenue stream from a variety of sources such as sales, airplay and the right to incorporate these recordings into TV programmes.
The old adage about whoever pays for recordings owns them is simply not enough - the trick is then - get it in writing. If your record deal with your artist only has one clause in it, make it the most important one - identifying ownership of your sound recordings.
Labels such as Virgin, Food, Chrysalis, Island, Creation, and Motown all held their master rights and subsequently negotiated large scale sales of these assets to majors (who are always on the look out for greater market share by acquisition).
Owning your master recordings will also give you the potential to seek out licensing deals with other labels, perhaps in foreign territories via affiliates.
A record label, like any other small business, should try to get the basics right. Think about your company structure : do you want to be a self employed sole trader, or do you want to start up a limited company? The limited company route would give you greater protection in the event of e.g. a copyright dispute. It also gives you shares to play with as equity. Look up Company Registration Agents in Yellow Pages, or speak to a lawyer if you have the budget to do this.
Get your product right. Make sure you believe in the music before investing in its commercial exploitation in the market. Regarding the physical product, make sure you have a barcode, a catalogue number, the proper copyright protection notices and a credits section (don't forget your contact details). Shop around for the cheapest but most effective pressing. Ask around for other labels' experience of dealing with manufacturers. Along with studio time, this will probably be your largest overhead, so look far and wide. Slip a database reply card into your sleeve. These returns can form a useful fan base for the label's future releases. Join PPL (Phonographic Performance Limited) in London. This is free of charge, and they will collect any broadcasting income which you may be due from airplay (after their commission). Network with your contemporaries. There's no substitute for experience, so meet up with other labels by joining industry organisations such as AIM and NEMIS.
Set up a website. Use this as an information and promotional tool, as well as for e-commerce. Sell your music by mail order, or even by direct digital download. Try to also get your records onto third party retail sites on the web.
Get your paperwork right. Remember that the taxman will not be interested in the quality of your music. He wants his formal returns. Keep all invoices and receipts. Likewise register for national insurance contributions, and VAT if your turnover is above £52K. Set up a proper business bank account to keep your personal income separate. You will no doubt qualify for free banking for at least the first year. Write a business plan. This could be the key for some local funding from your council or other awarding bodies in your area. Seek out sponsors. Some private businesses may be interested in a plug for a financial contribution.
To sell records you have several routes : at gigs, over the web and at retail outlets. The first two you can organise yourself, but to get your product into lots of stores you will require a distributor. These firms take a percentage from each sale, and do all the logistical work in getting your product into record shops. Independent distributors are listed in the Music Week Directory. Some specialise in particular styles of music, and all will look for you to have done some basic promotion on your record first. So, get reviews from local newspapers and try to get some airplay on the right radio shows. Remember that record labels own videos too. But videos are expensive, so don't try to run before you can walk.
Bear in mind the legalities. If your records include samples or are cover versions, you will need full approval from the relevant bodies. MCPS will provide much help with this, though remember that they will invoice you for songwriters' mechanical royalties if your records include songs written by registered MCPS members.
Don't despair about these red tape issues. Starting a label is a great way to find your way in the music industry. New music depends on this creative valve. Everyone has to learn sometime, and you will soon find that you are on a steep learning curve. If you have the enthusiasm and some capital (even a few thousand pounds), who knows you could set in motion a chain of events which may set you up with copyright income for the rest of your life.
JoJo Gould
Lecturer in Music Industry Management
Buckinghamshire Chilterns University College
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