New Trends in the Industry!

The music industry is forever changing and always reinventing itself.  Most recently single contract deals are the new thing in the industry. Several artists such as Juwan and Lil B have signed single contract deals with a major label. This deal allows the artist to have a label support in the marketing and distribution for one single, after that it is up to the label to sign the artist to a multiple album deal. A deal like this can go either way, either the artist will make an impact on the music industry with this single or he/she will fail. Contracts such as these are used to see if the artist is capable of generating the attention and money the label will need to support the artist. 

A graduate with masters in Business Entertainment can come into a situation like this with a record label providing that stellar knowledge to prep and/or recruit the right artist for this job. The skills I have learned will give me a jumpstart on the industry in the many different aspects of it. This is a great addition to a label because a new employee with that type of knowledge and helps on experience wouldn’t be so green in the industry.

 Full Sail University has prepared me through classes like negotiations and artist relations to successful handle single contract deals among other deals. The knowledge instilled in you is priceless since; you are put in real life situations that offer occur in the entertainment industry as a whole. As of matter of fact, Sony Music called me today to interview for an intern position with their A&R department. 

The lady whom I spoke with name was Chrystal Fuller, and she confirmed that 85 percent of their staff has an entertainment degree and or several years of entertainment experience. Ms. Fuller also explained that they only accepted internship from students at Music University because they know that they are well involved in trained to address various situations in the entertainment industry. After hearing these from a representative of Sony Music I was assure that my degree from Full Sail has suited me to make an impact in the entertainment industry in general.

I need Money and I NEED it NOW!

Many young entrepreneurs have put their business plan together for a company that will generate a lucrative profit. The issue arises when financing this idea comes into play. Thank goodness, for companies like Opportunity Finance Network also known as OFN who help, “low-wealth people in the U.S with financing their products or services.”  OFN site is full of resources that can help first time business owners structure their business.

For instance, a business owner can learn a few techniques on branding their business or product through a daily newsletter that OFN send out to its members. As a member with OFN you have instant access to industry experts, exclusive financial opportunities. To become a member of OFN you must be an effort to positively develop the community also since OFN operates as a non-profit company whose primary goal is to help in the development of the community. For more information on how to become a member please check out www.opportunityfinance.net. 

Another influential site for my fellow young entrepreneurs is EDA.gov. U.S Economic Development Administration is a federal organization that promotes small business development. EDA is a resourceful tool because they assist you with getting grants for the development of your business.  The great thing about EDA is that it does not require a membership to use the resources. There are a number of funding opportunities on the site that your business has to qualify for but the opportunity is presented to the interested.

Both of these sites provide great resources by offering alternative financing. The advantage is it may be a little easier to get the financing but the disadvantage may be tailoring you business in the matter the investor may want it to be. For example, Economic Development Administration is all about the economy and the community so in order to get financial assistance from them your product and/or service must be a benefit to the community. So, whichever route you choose to take is yours but the opportunities are endless.