How to build a team for Music Artists | Ultimate Team Building Strategy

Summary

In this episode of the Music Money Makeover Show, Casey Graham discusses building the ultimate team for a music artist. As artists surpass the million-dollar mark, they need to expand their team, which includes a holding company, general management, legal, creative, rights management, recording, and merchandise teams. Graham explains the roles and importance of each team member, emphasizing the complexity and necessity of a well-rounded team for artists aiming for success in the music industry.

Takeaways

• 😀 Building a successful music career involves assembling a comprehensive team as you grow past the million-dollar mark.
• 💼 The team includes a holding company with five companies, each serving different aspects of the artist's business.
• 📚 Copyright in music involves two main rights: masters (sound recording copyright) and publishing (composition copyright).
• 🏛️ Artists need a legal team consisting of entertainment, corporate, and tax attorneys, as well as a paralegal for drafting agreements.
• 💰 A financial manager is crucial for handling transactions, building budgets, and ensuring financial operations are efficient.
• 🎨 The creative team is responsible for content creation, including social media management, videography, editing, and design.
• 🎵 The rights management team oversees the artist's intellectual property, including publishing administration, distribution, and sync licensing.
• 🎚️ The recording team focuses on music production, involving recording engineers, mixing engineers, mastering engineers, producers, and songwriters.
• 👕 The merchandise team manages the creation and quality of merchandise, working with suppliers and designers to enhance the artist's brand.
• 🎤 For live performances, a band and crew are essential, including a road manager, music director, and live performers to ensure a high-quality show.

Q & A

What is the main topic discussed in the 'Music Money Makeover Show' episode?

The main topic discussed is building the ultimate team for an artist, which is crucial as artists surpass the million-dollar marker in their music careers.

What are the two main rights the music industry operates around?

The two main rights are the masters and publishing. The masters refer to the sound recording copyright, while publishing pertains to the composition or song copyright.

How can an artist collect royalties from their master recordings?

Artists can collect royalties from their master recordings through distributors like Tunecore or DistroKid, or via a major label if they have a deal with one.

What is the role of a neighboring rights organization in collecting royalties?

A neighboring rights organization, like SoundExchange in the U.S. or PPL in the UK, collects performance royalties for sound recordings on behalf of artists outside of America.

What are the six rights of copyright as per the United States code under title 17?

The six rights of copyright include the right to reproduce, prepare derivative works, distribute copies, publicly perform, publicly display, and digitally perform the copyrighted work.

Why is having a financial manager important for an artist?

A financial manager is crucial for handling all transactions, including payments to team members, building budgets for tours, and ensuring that financial operations are legally compliant.

What is the significance of a creative team in an artist's career?

A creative team, including a social media manager, videographer, editor, and designer, is essential for managing and expanding the artist's brand through various media and content creation.

Why is a rights management team necessary for an artist?

A rights management team, which includes a publishing administrator, distributor, and sync agent, is necessary to manage and protect the artist's intellectual property and ensure they receive royalties from their music.

What is the role of a merchandise team in an artist's operation?

A merchandise team, led by a retail merchandise manager, is responsible for sourcing high-quality materials, working with designers, and ensuring that the artist's merchandise is appealing and profitable.

How does the size of an artist's team change as they grow in their career?

As an artist's career grows, especially after surpassing a million dollars in revenue, their team expands significantly. This includes hiring more in-house staff and subcontracted workers to manage various aspects of their business.