Making Money Outside of the Music Business!

Quote from Chris Lighty (Violator - Artist Management Firm)
Black Enterprise Magazine (By Tennille M. Robinson; Jan. 2011; pg. 78)

"50 Cent, Sean Combs (P. Diddy) and Jay Z are the poster boys of what went wrong in the music business. They've made so much money outside of the music business, and the music business helped market and promote their brands; but didn't participate in being partners in their brands."


*Insight from B. Brown (BREG)

Chris is basically letting everyone know that these type of superstar artists are the reason the major labels have changed contracts to the "360 Deal" model where the label participates in the artist's entire brand (tours, merchandise, tv, movies, clothes, etc.)

So it is very important that artists understand what leverage they have when they come to the table with a record company and be ready to expand into other marketable areas outside of music. Music is just one component of your business brand as an artist.


Quote from Robbie Vorhaus (CEO & Founder of Vorhaus & Co., a brand strategy firm based in Sag Harbor, NY)
Black Enterprise Magazine (By Tennille M. Robinson; Jan. 2011; pg. 78)

Robbie describes many artists as "timekeepers," meaning they are singular in what they do. They may be "hot" but they aren't making money in their sleep, he adds. "50 Cent figured out he did not want to be a timekeeper. Instead, he said, 'I want to build something sustainable so that even when I'm not as popular as my talent, my production companies, movies or music that I discover will live on."

www.blackenterprise.com