Your Music Biz 101 Wrap Up: Week of August 21

Your Professor David Kirk Philp poses in front of Philadelphia’s iconic statue of a fictional boxer named Rocky Balboa.  Yet, in real life, a copy of his book, Managing Your Band – 6th Edition, floated down from the heavens just as this picture was snapped.  There have been book sightings all over the world.  Two Egyptian pyramids were toppled, as a matter of fact, by flying books.  True story.

Good Day/Evening/August,

Music Biz 101 & MoreOur next Music Biz 101 & More radio show is a brand new show, pre-recorded at Music Biz in Nashville last month.  We interview James Stewart, the Senior Director of Marketing for EM.co.  This is Tim McGraw’s marketing company.  Our focus on the show is the strategy behind McGraw’s 2016 single, “Humble And Kind.”  Watch the song’s video below and then listen to this interview.  There’s something to be learned by current execs reading this right now as well as students.  It airs this Wednesday at 8pm.  Stream it live HERE.

In the meantime, listen all of our other on-demand podcasts HERE – and we’re always open to answer your tweets, so ask away.

By the way, the original James Stewart approves of this email.

Adios!
Your Professor David Kirk Philp

Do Classic Rock Artists Make Any Money Anymore?

After posting this last week here, on our website, on Instagram and on LinkedIn, we received some good feedback, especially from people in the publishing area.  Here’s one comment from a veteran copyright manager at one of the major publishers:

“I felt the article was spot on. I have been explaining to my friends the situation the songwriters and artists are in with streaming vs. CD sales, as they are not realizing the dramatic drop in income.”

I came across an article last weekend in which Donald Fagen, one half of Classic Rock band Steely Dan, was complaining that he didn’t make enough money from his recording royalties anymore to make more records.  So, he had to tour as a necessity.

I thought this was B.S.  Here’s a guy who has made millions over the years off of his music, and now he’s crying poverty?  I took a deep dive HERE into the numbers and found out…he’s right.  When it comes to royalties that would be paid to him from his record label and publisher, there’s not as much there as you would think.

Sure, he can make quite a bit from the road, but you’ll be surprised why he doesn’t make as much from, say, cover songs, as other artists.  There’s a lot here with quite a bit of detail.

For those of you trying to get a handle on streaming revenue and other potential income sources, this article covers much of how those calculations can be made.  Click and read the article.  Then let us know what you think.

 Your Knowledge Presented By:

The book is out!  Did you buy it?!?

Order & memorize this masterpiece HERE.  Note the executive’s desk below that shows off the book in front of a sinful periodical.  You can’t steal this copy, so buy yours now!

What is the single most important aspect of the music industry an artist manager needs to understand?

This Week’s Response: Brandon Hixon – Manager De La Soul

The single most important thing to understand is your artist.”

I didn’t know what he really meant, so I asked if he meant this: When you say your “artist,” do you mean where that person/that group of people is coming from? The psychology of who they are and the music they’re creating and what their goals are?

He wrote back, “Exactly.”

Podcast of the Week: Former Pink Floyd/Clash Manager Peter Jenner

We interviewed Peter back in May and, if you missed last week’s radio show, you can catch his words of wisdom here. That’s a young version of him in the picture above, on the right.  The dude on the left is Syd Barrett, the original creative force behind Pink Floyd.  Just before Barrett went psycho, Jenner chose to manage him instead of the Roger Waters-led Pink Floyd.  Oops.

He talks about that here.  Give this one a go, won’t you?

Marketing Lessons From 5 Rappers/Entrepreneurs
I sense this article is a few years old, but that doesn’t matter.  The lessons are worth you skimming this over.  From branding to marketing to developing a story, there’s some good stuff in here.  Click and give it a read.

Apple Is Bringing A $1 Billion Checkbook To Hollywood

After watching Netflix and Amazon successfully move forward in creating their own content, Apple has apparently cannonballed into the Hollywood pool.  How does this help them?  Ultimately, it means more people subscribe to Apple Music, or a new version of it that encompasses music and filmed content.  More subscribers = more money.  That’s always what this is about.

Most interesting line: “The list of guys writing checks in Hollywood now includes Apple, Amazon, Netflix, Facebook and Google; Verizon and AT&T are coming, too. You should stop reading this and start writing your spec script.”

What Do Record Labels Look For When Hiring Interns? 
After emails, podcasts, and hallway discussions, we’ve put together this complete guide to what record labels (and probably, most entertainment companies) are looking for when hiring interns.  We specifically focus on the Warner Music Group and include links to two internship opportunities they’re offering in the fall.

This is a long-read, but if you’re someone who wants an internship, or even a full-time job in the biz, read this over and see how you can make your resume and LinkedIn profile full of exactly what will make you stand out.

In China, An Action Hero Beats Box Office Records (And Arrogant Westerners)
When I was a mere boy growing up on the mean streets of Madison, New Jersey, Sylvester Stallone’s Rocky and Rambo characters proved that America was the biggest and baddest country in the world.  Don’t mess with us, anyone ever.

Well, China has finally hit its movie-making stride and come up with its biggest action star and blockbuster film ever.  Titled Wolf Warrior 2, the film has earned $722 million in ticket sales – solely in China.

Why should you care?  Forget the politics.  What you’re seeing is the growth of a market.  You’re seeing potential opportunity.  The better their film industry, the more it grows, the more appetite there will be for films of this caliber.  More need = more openings for creatives to get their voices, and their work, heard.

Of course, the politics in this case do matter a bit.  The bad guys in the film?  Yeah, the Americans.

Q&A: I Was Asked To Manage Someone. How Do I Get Started?
When somebody asks for advice that you think other people want to know, why not share it with others.  Click on this link to read about the unique aspect of this question and how we answered it.

Then, think about it and let us know what else you would add.  You’ve got opinions.  We’d like to know.  Hopefully, you can teach us a thing or two.

Bots On Broadway
Ticketmaster has a new program called Verified Fan, meant to combat scalpers and make it easier for humans, rather than automated bots, to purchase tickets to events.  Just last week, the system was engaged for Broadway’s Hamilton.  If you’ve already heard about the one-man show Bruce Springsteen is going to put on this fall and entered your name to get tickets (like I’ve done), then you’ve experienced the Verified Fan process.

Will it work?  We have a friend from Ticketmaster who regularly read this newsletter, so let’s see if he gives us any feedback.  In the meantime, let us know if you’ve come across Verified Fan and what you think of it.  Now click!

Music Biz 101 & More Podcasts: Stream Us 24/7

Our 2017 schedule looks like this:

August 23 – James Stewart – Director of Marketing at em.CO (Tim McGraw’s management company)

August 30 – Caylnn Green – Warner Chappell Songwriter

September 6 – Brian Schechter – Former Manager My Chemical Romance/Current Manager Palisades

Mark those dates on your calendar; 8 PM on Wednesdays.  What do you want to know?  Who do you want to hear from?  Let us know!  The best part?  It’s FREE music biz talk.

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For full details about the Music Management Program, including courses, the minor, and our MBA, click HERE.

For full details about the WPU Pop Music Studies Program, including courses and audition requirements, click HERE.

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Professor David Philp is Assistant Professor Music Management & Popular Music Studies at William Paterson University. He is the co-host of the only FREE advice college radio-based music & entertainment industry talk show in America, Music Biz 101 & More, which airs live most Wednesday nights and is available as a podcast HERE every night (days too).  Your favorite professor is also co-author (with Dr. Steve Marcone) of Managing Your Band – 6th Edition.  Reach him at PhilpD@wpunj.edu or find him on LinkedIn HERE.

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