What is a Music Management Company, and How Is It Different from a Record Label?
The entertainment industry has grown with multiple upcoming and established talents making a name for themselves. However, it is essential to consider a host of factors for the success of your music career. For instance, artists are pushed into doing everything necessary to sharpen their talent. On the other hand, a team is behind them to ensure everything runs properly.
Legal matters, brand management, contracts, and marketing of the music, are some of the necessities in the game. Many people, especially those not familiar with the industry, often assume record labels and music management companies are the same thing. However, although these two entities both guide an artist, they specialize in serving different roles altogether.
So how are music management companies different from record labels. And what roles does each serve?
What is a Music Management Company?
A music management company is a firm that helps artists navigate through the industry. They guide different sectors, including whom you should work with and your best opportunities. Artist managers are the talent’s ears and eyes in the industry. They help advise on all issues, and they are always on the lookout for the best partners or third parties to work with. Music management companies are a necessity for the success of an artist.
What Does a Music Management Company Do?
There are multiple roles played by music management companies, including;
1. Negotiation of contracts – Artist managers are tasked with negotiating any contracts for which an artist is presented. Managers advocate for the best sponsorships, record deals, and other industry opportunities.
2. Manage finances – Music managers collect artists’ payments and cater to the associated bills.
3. Strategy management – Music managers are responsible for discussing career strategies with the artist. This includes marketing strategies for your work. It is upon them to come up with a plan which will be used to help the artist grow with time.
4. Event management – Artist managers plan the schedules of the artists. They check their availability and assign particular days for promotional appearances, concerts, tours, album campaigns, or interviews.
5. The personal well-being of the artist – A good music management company should advocate for an artist’s physical and mental health. This includes checking with the doctors on available appointments and booking therapy and life coaching sessions.
6. Handle internal conflicts – In cases where a music management company is managing a band, the manager ought to sort out any disputes between the members. This should also apply in cases where conflict arises between two artists making music together.
7. Enforcement – Artist managers are supposed to enforce all terms agreed on a contract to ensure that the talent gets the best from any deal.
8. Artist development – Music management companies should help talent improve in their career areas. They constantly check up on them and assist them in making the best business and musical decisions.
Contrary to what many people assume, music managers work alone. They don’t work under agencies or record labels, but they do have good relationships with industry insiders. They will link you up with the best team and ensure that you get the best results from each deal.
It might come out that artists work for talent managers because they do what their managers tell them. Nonetheless, this comes from a point of care and concern, as the managers want the best for these artists. It’s not that they control you, but they want the best for you.
On the other hand, you would want to listen to them for their expertise. They are there to guide you through to success, to give you the assistance and advice to get to the top of your game.
What is a Record Label?
Generally, a record label provides the finances and assistance to create, market, and sell your music. They give the infrastructure and money to accelerate your career. They are the fuel to run your engine. You bring in the talent, your manager’s expertise, and the record label supplies the required resources.
Besides the funding, an excellent record label will link you up with the best producers, studio musicians, studio time, and engineers. They are the party that ensures you have all the necessary tools to perfect your music. So what are some of the roles of a record label?
Roles of a Record Label
Record labels can prioritize already established artists for public relations. Unlike focused music managers, a record label works with many artists at a go which might be overwhelming. However, working with an established record label can get you to greater heights in a short while, places you’d take ages if you worked individually.
Contracts with record labels might differ from one entity to another. They usually revolve around your current career position, intended goal and growth, level of assigned control, and capabilities of the record label. Moreover, each label has its connections and strategies to maximize the results. Some of the common ones include album production, marketing, artist advancements, and a studio.
Labels have the techniques and access to get your music to your target audience. They do this at a lower cost, including social media and traditional marketing channels. Record labels make their money through sales, merchandise, publishing, touring, streaming, licensing, ticket sales, and performance royalties.
Music Management Company vs. Record Label
Music management companies are your face in the industry. They represent you and advocate for the best deals. They guide you on personal and business issues to ensure you’re always in your prime form. On the other hand, record labels are more interested in selling your music. They bring in the resources necessary to produce your album and effectively distribute your music to potential fans.
Managers will help you choose labels, and it’s vital to consider going for the best manager—one who has your best interests at hand. Additionally, a lawyer is critical to the entire journey. They’ll come through in reviewing the binding factors on contracts and give legal advice on how you should proceed. They also help foresee any avoidable circumstances.
GUIÓN PARTNERS is a talent management company that represents one of the best talents in the industry. We have the best team to help you access the best possible opportunities, and our vast experience speaks for itself. We also have the necessary connections and links to ensure artists lack nothing in their music careers.
Reach out to GUIÓN PARTNERS for the best music management services!