Music production is a good business when one knows exactly what their doing.
Record companies make a lot of money, this is because music sells. Especially now that we are in the digital Era.
Content creation has become one of the key things that makes up the internet.
Therefore knowing how to start a music production business is essential to its success. Fortunately, you don’t need a lot to start your own music production business.
There’s lesser formality needed, you just need the right mindset to go at it and a good team to help you navigate through the path to success.
Let’s get into what you’ll need to start your own Music Production business.
You’ll need Capital
To get started in this business you’ll need money to help you purchase what is necessary and also help you facilitate the content creation.
Owning your music production company means that you’ll have to pay advances to artists from your own pocket after they sign with you.
You’ll also have to take care of studio costs related to the creation of music, plus you also have to pay for the marketing of the end product.
This is why you need capital to help you get things in place.
The good part is you’ll be able to recoup your expenses from the sales of the music if everything is carried out the right way.
You need a Recording Studio
You can’t really start a music production business without a recording studio.
A recording studio is necessary because you’ll use it to record and monitor your artists whilst nurturing their growth in the process.
Furthermore, to save on costs, having an in house recording studio can be a good way to start to your music production business.
Some capital will help you build a good recording studio that is of good size to accommodate the people you intend to sign.
You can start your music production business with a home studio if you want to because what really matters is not the location or look of the studio but the actual work that is being created in the studio.
The quality of the music should be your primary focus, you don’t need to go all out and rent a $10,000 space if you don’t have the funds.
Start small, make a reasonable studio and do your best to have it ready for music work.
You need Recording Equipment
To successfully run a music production business you’ll need recording equipment for your studio.
A good computer that will be used to process the music.
Then, a good microphone that will help you capture vocals, instruments and other sounds needed for the music.
An audio interface is also an absolute necessity in a recording studio because it is a signal converter created for recording purposes, therefore it will help you capture vocals and instruments in a more accurate manner.
You’ll need a good pop filter to help you counteract any sibilance and high frequency signals that may end up recorded into your mix.
Studio Monitor speakers are an absolute necessity in music production and will do good work for your business.
Get a good pair of studio monitors and you’ll be able to create better and cleaner recordings.
If you intend to have a full blown music production business then you’ll need to buy some instrument equipment tool.
This is not an absolute must, but it can help your artists compose better.
You’ll also need DIGITAL audio Workstations for music creation and beat making. I have a list of good DAWs here.
Furthermore you’ll need digital instruments and effects to use in your Digital Workstations in the creation of music.
You need A Music Producer
To run a successful music production business, you need a music producer that knows how to produce music.
If you know how to produce music then you can get started as the main producer but as your business grows, you’ll need to hire an assistant music producer because it can be quite difficult running a music company and playing other roles too.
Its difficult to take in too many tasks, this is why you need a team to help you and make work much easier.
You need a sound Engineer
Sound engineers are responsible for the engineering of sound and turning recordings into finished songs by using various tools.
You need sound engineers to help record and engineer songs into finished products ready for distribution.
This will create balance in your organization because you can easily have your engineers adopt to your musicians sound rather than having to use different engineers all the time.
Having in house engineers is also a cost effective way of making music rather than hiring independent engineers that will charge you different rates.
You need artists
You can’t start a music production business when you don’t have musicians.
As the owner of the music production business, it will be your duty to locate and hire talent.
You’ll have to pick and choose talent according to the standard of music you’re hoping to make and sell.
You’ll Need a Fan base
A success artist is nothing without a following or fanbase. Therefore it will be your job to build a fanbase around your business because your fans are your customers.
This is why it is essential that you have adequate capital to facilitate things like this.
Building a fanbase is in direct correlation with my next point. which is marketing.
You’ll need Marketing of the Music
In order for you to sell your product ,which is music. You’ll have to employ various marketing tactics that will help you cultivate a fan base.
In the music industry, creating and distributing high quality content is a major part of marketing.
This is why record companies spend a lot of money in making sure that content is of high standards.
Being the owner of the music production business, you’ll have to develop a marketing plan for the music being produced by your company.
You’ll need Music distribution
Finally you’ll need a distribution method for the music being created by your business.
If you can handle the distribution and marketing on your own then you can do so, but if you’re still figuring things out, you can sign a distribution deal with a distributor to help you move your product.
You’ll need artist Management
One of the reasons why musicians fail is due to the lack of management.
Taking a Do-it-yourself approach can work well for others but may be the end of a career for others.
This is why having independent people managing artists is very important for a music production business.