The Decline of The Major Record Deal

Look at the statistics in regards to record sales and you will see that there’s a huge drop off. In 2014, for example, only a handful of acts were able to move over a million records. This is something that wasn’t the norm in the past, and if you look at the charts published by industry insiders, you will see that there has been a steady decline in music sales over the past decade. This downturn is not just because of piracy, which was once a dominant fear, but moreover the fact that many artists do not want or need a major record deal.

The blossoming artists of today may not register with #1 hits on the billboard, but their fan bases are in the millions of people. That is driven by the landscape digital media, social sharing, and easier distribution of musical elements. Where in the past an artist would have to press compact discs, cassettes, and vinyl, today’s artists can easily record and distribute digitally within a matter of hours of recording. That unprecedented changeover has made it easier to get music to the hands of consumers faster than ever before.

Social Media Platforms

Social media platforms have been around for some time now, but the strength of their distribution has been tested time and time again. While major industry artists have to amass a great deal of marketing through dollars, the savvy underground artist can do so on the cheap, and in many cases for free. Free marketing in the form of a picture, a shout out, or any number of solutions can garner a great deal of attention. This is evidenced by the prominent hip hop artists that have hundreds of thousands of followers on Instagram, YouTube, and more. Within these platforms, not only is it possible to get people interested in the music, but ad revenue can be created as a result of the popularity. That’s ad revenue that isn’t cut into “points” like that of the record industry past.

Networking through these pages is like a snowball. A small snowball can start on top of a mountain until it gathers steam and turns into an avalanche. That’s something that is evidenced through the social platforms of many artists of today’s independent music scene. All it takes is one video to go viral and get serious coverage on the news to stand out. Viral videos hit the internet and could sustain career paths for independent artists in a greater manner than having a record label contract.

Asking For It

Perhaps the most compelling testimony of independent artists coming through social platforms is in regards to crowd funding. Instead of the big label putting up money for music to be recorded, artists can connect directly with their fans and ask for money to record, press, and incentivize the next move. For instance, a band can come together and request money for recording from fans, and give back to the fans in the form of merchandise, concert tickets, meetings, and more. By simply asking the fans for donations, the band can break even or even profit without having to rely on the hardships of contracts. This of course is just the beginning of a larger topic.

By Randy Morano

Follow Randy on Twitter @RandyMorano

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