Myths About the Business of Music

The music business is a complex business. This is why, to help people manage it better, it is now possible to complete a music business degree. If this is a degree that would interest you, you will quickly find yourself faced with a number of myths. In fact, you may even, right now, believe them to be truths. Let’s take a look at them.

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#1 If You Have a Problem, Those in the Music Business Will Be There for You

Music business is a real business, and business is about profit. There is no business on this planet that is about kindness and compassion. Sure, you may have made some real friends in the industry, and they may help you, but the business as a whole will drop you very quickly. This is not criticism of the industry, but rather a reality check: while music by be a different type of business because it affects everybody, it is still a business.

#2 People Stopped Buying Money Since the Economic Crash

We’ve all heard that the music business is dead since nobody buys CDs anymore. The reality is, however, that the business is going strong. Most music is now sold online rather than in CD form, but there has also been a revival of vinyl. Look at Apple, who have earned over $10 billion through iTunes alone, and you will quickly see that the business is far from dead.

#3 Musicians Are Super Wealthy

We all know that stars bring in the big bucks, right? Look at Lady Gaga and Sean Kingston, for instance, and you can see the money oozing off of them. However, you don’t know what their contract says. Those outfits they wear on the red carpets? They don’t belong to them they are borrowed to them to highlight designers. If you don’t believe this, consider Marvin Gaye, McHammer, Willie Nelson, Michael Jackson, Billy Joel, Toni Braxton, and so on. You’ve heard of them right? They have all also been bankrupt.

#4 You Can Become a Celebrity Overnight

A lot of people believe that they can sing on a street corner one day, and have magazine covers, Grammy awards, and millions of dollars the next. This simply isn’t true. There is not a single celebrity who became rich and famous overnight, without dedication, leg work, preserver, passion, and a good network around them. Eminem, Kanye West, and Wiz Khalifa, for instance, may look like they came on the scene overnight, but they actually spent years turning themselves into brands.

#5 Talent Is More Important than Ethics

Talent gets you into the world of music, but ethics keeps you there. There are only very few who can have “diva attitudes”, and even they will push limits at some point. Remember Charlie Sheen? He simply took thinks too far, and people got sick of him. His father Martin Sheen and brother Emilio Estevez, by contrast, continue to be big names in the entertainment industries. They have ethics.

Sourav

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