If you think that your future will be to get signed to a record label, think again. I read in several places that artists today must invest so much more before they are in alignment to be picked up by professionals in the industry. You must start thinking as an artist that you are your first label, your first publicist, your first publisher, and your first manager.
The future of the music industry will be consulting. There is not enough money to go around to be able to invest in new artists. In the old days, you invested dollars into 100 artists, and only 10 of them would make money, but on the other hand, these ten would bring in so much money that it paid for the other 90.
Today there is no one with a proper ROI plan that would invest in that way. The different streams of income make it so unpredictable. With the new digital tools, you can also wait until everything is stable to start to invest.
For an artist is not good enough to just have a good song. It’s not good enough to have a look. Instead, we expect that you come with good songs, a good image and a fanbase, along with a hell of a live show and also be an active professional on social media.