Insurance and Finance Coverage for New Bands

Starting your own band can be quite a challenge. It will require a lot of money in order for good promotions and equipment. Money will be needed to pay for services that can help you and your band. But the question is where to get the money to sustain your band. Here are a few sources of funds that can help you to deal with that problem.

The first source of funds you can tap is your own. Investing your own money in your music can show potential investors that you’re serious in the industry. Like any other type of business, you need to put you own money on the line, too.

There aren’t a lot of people in the music that can easily secure debt finance from banks and other debt financers. The reason behind this is that there is no certainty when it comes to the growth and success of an artist or band. Although it can happen, not many of these banks would easily provide debt financing, especially when a band is just starting.

You can get funds from family and friends, too. You can find people you know on a personal level to finance your band. Although informal, these people may provide finance without the desire to hold equity in the business. They can be very useful for new bands, but the challenge can be in the form of convincing your family and friends that you are a good investment.

When you start out, it is easiest to borrow small and get money for new instruments, outfits and basic promotions. Many people turn to personal loans to obtain these small amounts $200 – $1000. source:

Internal capital networks are groups that are willing to help other people who share the same culture. There are new bands that have been financed well enough to make their albums. These groups would also provide funds as long as the group or the community would benefit from the album.

Funds can also come from angel financers. These are individuals with a high net worth who are interested in helping entrepreneurs. They usually will take an interest on how your band is run and will require a level of equity of the business for their efforts and contributions. An example of an angel financer is a record company. Angel financers generally expect a return of investment usually 3-5 times greater within 2-5 years. They can be very hard to find and will require a lot of convincing before they can fund a new band.

Like any other type of business, you will need to put out a lot of money to survive. If you don’t have it, then you can seek assistance from other parties. You will need to  convince them that you are a good bet, a good investment, before they provide you with the necessary funds you need.

Insurance. It might sound funny. But even musicians need insurance for general risks and bumps and bruises. Rather than go on about it here I found some interesting articles on a few of these products types

Resources on How to Start a Band

It may sound easy to start a band, but it’s actually pretty complicated and frustrating. If you’re not going to start a band right,  you will end up trapped in a vicious cycle of replacing members, changing songs, and so on and so forth. It will do you and your band good if you start it right.

First and foremost, you need to know what kind of band you’re starting. And when you are already sure of the kind of band you want, find out exactly what your band needs, such as the different players. There are a lot of places where you can find these people. You have to be sure that your band can play together properly.

Once you have found the people you need for you band, the first thing you need to do is to figure out the ground rules. Discuss things like practice schedules, venue for practices, and any expenses that your band will have during these practices.

Once you’ve established the rules, find out who the leader is. It can be the lead vocalist; it can be the songwriter, or the person who formed the band. This leader must be the one to run the show musically and must take care of all the details when it comes to gigs, royalties, and many more.

Finally, your band will need to start playing music. As mentioned above, your band must need to perform together. Every player should be good at what he’s supposed to do and do that only. Effective communication is also a key factor to make a band successful.

The most effective medium to be heard, distributed, or booked is through people. In order for your band or any band that matter is to delegate different tasks to capable people. You can’t write songs, perform them, and manage your own publicity. That would be a very difficult task. Let others represent or manage you while you focus on writing the lyrics of your songs. An important factor in becoming successful in the music industry is to rely on correct techniques to network yourself or your band. It’s important that you have the right connections. As the saying goes, “It’s not what you know or do, it’s who you know.”

One of the hardest things to do for any band is choosing a name that is unique and catchy. Good music coupled with a good band name will definitely help in sales, attendance in performances, and help fans identify the band itself. The members of the band will be associated with this name for a very long time and it helps to have one that is good.

Your band will need to have an online presence and it’s a great idea to have a website where people will see your photos, bios, contact information, and schedule of your next gig. Make your website simple, organized, and always updated. You can even post the schedule of your next gig on popular social networking sites, such as Facebook and Twitter.

You can visit websites on the internet for more information on how to start a band. For band resources, you can check out these sites:

Networking in the Music Industry

The most effective medium to be heard, distributed, or booked is through people. In order for your band or any band that matter is to delegate different tasks to capable people. You can’t write songs, perform them, and manage your own publicity. That would be a very difficult task. Let others represent or manage you while you focus on writing the lyrics of your songs. An important factor in becoming successful in the music industry is to rely on correct techniques to network yourself or your band. It’s important that you have the right connections. As the saying goes, “It’s not what you know or do, it’s who you know.”

You can start by asking your family and friends to help you promote yourself or your band. From there you can reach out beyond that. As your network grows, it becomes easier for you to identify the right people to do the job effectively. It is very important that your relationship with your network is reciprocal, one that benefits both you and the people you work with.

In networking, see situations from another person’s perspective. When talking to people, do so the way you want them to talk to you. Make your introductions brief and do not waste each other’s time. Make sure that all the information you need to provide are kept organized. You will meet a lot of people in the industry and it’s best to keep track of who’s who in the business.

In networking, sometimes the best way to reach a person is to start a conversation with his or her assistant. This is because assistants are the closest connection you have with the person you are trying to reach. The assistant can help you by making sure the information you want to be delivered to his or her boss gets placed at the top of the file.

When someone does a good deed for you, don’t forget to thank them. This can help establish a good working relationship with them. But you certainly should not try too hard when thanking them so keep your tokens of appreciation simple.

When you’re going to give information, you don’t necessarily need to phone them. You can just email or fax them and wait for their response. When you need an immediate answer, then give them a call. Every situation is different so you need to use your best judgment on this one.

Some of the people that can be very helpful in the music industry include:

  • Managers
  • Attorneys
  • Accountants
  • Booking Agents
  • Publicists
  • Photographers
  • Producers
  • Distributors
  • Editors

In order for networking to work in the music industry, it is important to reach out and touch everyone. You need to build relationships that last and give your time and resources to other people who require it. It’s all about connecting people around you.

Guide to Promoting Your Band

The problem with starting a band is catching the attention of people. Since you’re just starting, you’d want people to start listening to your music, have more gigs, or even land a record deal. But the question is how do you generate more press, more buzz? The objectives of promoting your band is to: present your music to the people; to make them listen to you; and to differentiate your brand from the rest. Below are a few tips you can use to promote your band, especially when you do not have someone to promote it for you. Mind you there will be a bit of money you need to put out to promote your band, but like any good promotions, return of investment can be big.

You need to generate buzz about your band and one of the best ways to do that is to play at open mic nights. Open mic nights will allow people to listen to your music and it’s from there that talk about your band starts. You may not get any money from the gig, but people will have heard you. It’s also best that you distribute hand out flyers to the audience.

Since you’re just starting, your band will not get any invitations to play at events. But you can come to people and offer to play for free at their events. Sometimes, you can even ask for a very small talent fee. Again, this may not immediately get you a lot of money, but you need people to hear your music.

Your band will need to have an online presence and it’s a great idea to have a website where people will see your photos, bios, contact information, and schedule of your next gig. Make your website simple, organized, and always updated. You can even post the schedule of your next gig on popular social networking sites, such as Facebook and Twitter.

When your band is performing at an event, distribute promotional materials such as stickers, t-shirts and other items with your band’s name or logo. If people love your band, they will spread the word to other people. You can even put your band’s website on some of your promotional items so people can visit it and have access to your music, bios and schedule.

The fans are some of the best sources of promotions. If they love your music, they will spread the word to other people. You can ask them to set up flyers and banners around town distribute invitations to other people. You can even collect email addresses from previous gigs and send these invitations or schedules to people in your list.

When promoting a gig, do so ahead of time. Give yourself a couple of weeks to promote the event by distributing promotional materials. Use social networks on the internet. Keep your invitations brief since too much information can confuse the receiver of the flyer. It’s also good to promote your band in person since many people do not have time to read invitations or flyers. The response will be immediate and you’ll know immediately if the person is interested or not. You won’t have to waste your time.

Advertise where your audience is located by contacting local newspapers or radio stations and asking them to plug your band or gig. But don’t assume people will come to see your band. Promote, but don’t expect much. Even a small group of people watching you perform can still help you create buzz.Also consider joining a free business directory, so that you can be found by people searching locally online. You can choose a few different categories such as musicians for hire or the musicians category

What’s In a Name – Guide to Choosing a Music Band Name

One of the hardest things to do for any band is choosing a name that is unique and catchy. Good music coupled with a good band name will definitely help in sales, attendance in performances, and help fans identify the band itself. The members of the band will be associated with this name for a very long time and it helps to have one that is good. Below is a list of tips, dos and don’ts when it comes to choosing a band name.

  1. Get a random word or words from the dictionary and use that as a band name or you can use pop cultural references. You can even make a list of your favorite words and draw on that. The trick is not to use common names, words or phrases, such as Hot and Cold or El Nino.
  2. You shouldn’t get too creative with spelling. Sure, you can use “z” instead of an “s” or other letters in the alphabet, such as Gorillaz, Korn, Outkast, or Limp Bizkit, but having more than one letter changed to another might look ridiculous and confusing to fans. Do not also use special symbols such as $#@&. Not only do these look immature, they also can be interpreted by computers as codes when being searched online.
  3. You can use a name that has significance to you. An inside joke that is not offensive or in any way derogatory can be good.
  4. You can name your band after the place where you live or you frequent. An example of this is Linkin Park.
  5. You can use a portmanteau, like mixing up two different words to form one great band name. You can even use the initials of the band member’s names.
  6. Use a song lyric or a line in a book you’ve read.
  7. You can use umlauts (¨) on some of the vowels, such as Motörhead and Mötley Crüe.
  8. Avoid starting your band name with “The” because it is overused.
  9. People get tired of repetition. With that said, it is best not to use words or names that are already being used by other bands in other countries. For example, a lot of bands in Canada have the word “wolf” in their name. This doesn’t help your band stand out.

The final test of choosing a band name is to search for any similar band names on the internet. Consider your band’s web presence. If there is a hit, you might want to consider another band name, unless you intentionally misspell it. But even if you misspell another band’s name for your own, chances are online searches will still produce results of the original (and more popular) band, and yours will be left in relative obscurity.

Guide to the Music Industry

If there’s one thing that connects people all over the globe, it’s music. And for some people, it’s one of few things that keeps them going, keeps them breathing. Australians love music and many are known to have performed great music both locally and internationally. The industry has got to be the biggest out there with all the compositions, recordings and performances being sold. Back in 2009, Australians spent a lot of money on digital music so much so that its sales more than covered that of physical copies, enough to be tagged as the ‘Holy Grail’ territory for the music industry.

Basically the music industry is composed of people who write and perform the music (musicians, performers, bands), people who sell recorded music (record labels, producers), those who present live performances (booking agents, promoters), those who broadcast music, people who assist musicians with their careers (talent managers, business managers), and many others.

Since mid-1900s, recorded music has gained firm ground and became the largest player in the music business. Sales of recorded music grew and many bands became cultural icons. Today, there are three labels that dominate the music industry: Universal Music Group, Sony Music Entertainment, and Warner Music Group. These big labels all have their respective smaller companies and markets. But since the beginning of 2000, live music began to grow and eventually increased in importance when compared to recorded music. The live music industry is dominated by live-events company Live Nation, which is a spin-off of Clear Channel Communications.

The music industry is a complex system of people and organizations. But despite its complexities, the music industry creates and sells only three types of property: compositions, recordings, and media.

Compositions are the fruits of songwriters and composers and its copyright can be sold to another person or company. These are usually licensed to publishing companies, which then collects fees whenever the composition is used, and then pays a portion of the royalties to the copyright owner, depending on the terms of the contract. Sometimes, the publishing company will give the copyright owner an advance against future earnings when the publishing contract is signed.

Recordings are created by recording artists, usually with the assistance of record producers, in recording studios. But because of advances in technology, “home studios” have been created, which acts the same roles and functions of a traditional recording studio. The record producer will oversee the recording, financial and artistic decisions. These recordings are usually owned by record companies and a recording contract will specify the business relationship between the recording artist and the record company. A traditional contract usually stipulates that the company will provide an advance to the artist; pays for the recording, promoting, and marketing costs; and pays for the manufacture and distribution of the recordings. The record company can also pay the artist a portion of the income from the sales of the recordings, also called as a mechanical royalty.

Media refers to the medium in which the recordings are sold. The music distributor delivers the media, such as CDs, from the manufacturer and sells it to consumers. But with the debut of the iTunes Store in 2003, legal digital downloads became widely available. Online distrbutors may pay the labels directly. When purchasing digital downloads, the consumer may be required to agree to licensing terms, such as restrictions in terms of number of hard drives for storage.

When it comes to live music, a promoter will arrange for artists to perform in a venue. A booking agency represents the artists to promoters, makes deals and book performances. The choice of venue is decided by the artist’s management and the artist himself. The record company may provide tour support, finance the tour, and help in promotions. Artists usually hire a road crew to help them in moving equipment on and off stage.

For aspiring recording artists, it must be noted that a successful artist functions in the market as a brand. He or she can derive income from other streams. And usually, as seen on many shows on television, bad press can break a career.

In terms of album sales and market value worldwide, Australia has a 1.5-2.0% share of world market value with a 1.5-1.8% album sales share. Australia has also garnered 1.8-4.6% of physical sales share and a 0.48% share of digital sales in 2005.

The Australian Recording Industry Association (ARIA) represents Australia’s recording industry since 1983. It was formed by six major record companies, namely: EMI, Festival, CBS, RCA, WEA and Universal.