#018: Did You Just End Your Career? Label Deals & Patience in the Music Industry
“Wait is Weight” - Shama ‘Sak Pase’ Joseph
For many artists, one of the most exciting days of their career is when they close their first record label deal. But for many of those same artists, when looking back at that day, they realize that it was one of the biggest mistakes in their life. Every recording artists journey is different. Some artists release their first single to massive streaming success and deal offers pouring in. More often, there are many years of releases, development, missed opportunities and unfulfilled promises before they have their breakthrough success. Regardless of which way that success comes, but likely from a single release, it is tempting to just take the first record label offer that allows the artist to make music their full-time career. But in doing so, many times it leads to the demise of that artist.
In order to consider signing a record label contract — and with acknowledging that there are always exceptions to these rules — it is suggested that you have the following:
Streaming Success: The definition of streaming success is different for every artist depending on where they are in their journey and the genre. Music streaming is by far the biggest piece of the revenue pie for a label’s earnings and for that reason, it is the most important area to prove success and a path for future growth.
Work Ethic: Not only a relentless work ethic that gets the artist and their team to the record deal, but more importantly a work ethic that continues after that advance hits their bank account and a larger team is formed around them.
A History of Live Performances: Don’t be exposed as not being able to perform live after having a breakthrough release. Even if the shows are small (early on, these can even be open mics or talent shows), gig as often as possible. This stage time and development will go a long way once the crowds, venues and live show opportunities grow.
Catalog: If an artist doesn’t have 5+ songs that they feel are massive hit records, it’s too soon to sign any label deal. A record label typically won’t recoup their investment on the songs released before they sign an artist. For that reason, it is essential to have amazing unreleased songs ready before entering into a label partnership.
The Team: Some recording artists are able to build their careers when they are on the come-up (pitching, marketing, running ads, securing premieres, booking shows, etc). But as more success is achieved and the schedule gets busier, this simply isn’t possible at a certain point. That is why an artist having a team of advisors and/or manager(s) around them — who they trust fully — before signing their first deal is essential.
Record labels do not expect or demand massive success right out of the gate. While that is the goal, most major labels will give an artist a 1.5-2 year runway to prove an adequate level of streaming success and revenue generation. For an artist that has the above list of actions already in motion, there is an easier and more likely path to achieve the success needed — even if still a challenge at times — to keep the record labels support behind them. However, for an artist that hasn’t achieved these feats yet, the likelihood is more aligned with ‘a punchers chance’ and a long-shot. Then when things don’t work out, the best case scenario is for the label to drop the artist and allow them to proceed with their career and other opportunities. But we all have heard the stories of labels shelving artists or not letting them out of their contracts for multiple years. All artists that truly have the heart and talent behind them will be given a second chance with a second label, typically after a break between the deals. But if that second deal doesn’t go well, that usually ends the path towards even the opportunity for a big career in music. For that reason, it is essential for an artist to do everything in their power to make their first label deal go well. The best way to do that is to practice patience, ensure that the leverage is behind the artist before signing a deal and then working as hard as possible to maximize the opportunity once getting into the building of a top indie or major record label. That approach will lead to the best possible chance for a long and successful career in music.
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JAY’S SONGS OF THE WEEK:
Dylan Dunlap - “What We Had”
Jessie Reyez - “NO ONE’S IN THE ROOM”
Muntu - “Let Loose”
REI AMI - “MAC & CHEESE”
MVNA - “Drunk”
REASON - “SAUCE” (feat. Vince Staples)
