Independant Record Label

eire1

Has anyone here tried to or successfully set up their own record label? I'm thinking about starting one and just looking for other people's experiences really. Even if it was just for your own band, any information would be great. I've read the stuff from FMC and IMRO. Anyone got any idea of possible start up costs. I'd like to get it set up, registered first etc and then start on the music side.
Thanks

smcgiff

eire1 wrote: »

Anyone got any idea of possible start up costs.

I'm sure you've done your homework and know that the music industry is very much about contacts.

You're entering the publishing business, and will need to make contacts with retailers if you want to sell in shops. That's going to take business development costs such as travel and wine and dine. That's if they'd meet with you.

I'd say to get that far you'd have to have a reputation or a hook.

I'd imagine you'd have advertising costs - advertising to get artists.

When you get to the point where you've selected your artists you're going to have to get their music recorded and maybe print Demos. Not too expensive these days. You may want to stick to electronic sales channels. That would be less expensive and controllable, but tougher to attract your market.

Are you going to have an office or work out of your home? An office will be more professional (to meet artists), but more expensive... rent, rates and services charge.

DMG_49

smcgiff wrote: »

I'm sure you've done your homework and know that the music industry is very much about contacts.

You're entering the publishing business, and will need to make contacts with retailers if you want to sell in shops. That's going to take business development costs such as travel and wine and dine. That's if they'd meet with you.

I'd say to get that far you'd have to have a reputation or a hook.

I'd imagine you'd have advertising costs - advertising to get artists.

When you get to the point where you've selected your artists you're going to have to get their music recorded and maybe print Demos. Not too expensive these days. You may want to stick to electronic sales channels. That would be less expensive and controllable, but tougher to attract your market.

Are you going to have an office or work out of your home? An office will be more professional (to meet artists), but more expensive... rent, rates and services charge.

Don't you mean easier to attract your market as its worldwide. The likes of facebook, myspace and twitter makes it easier for people to access and buy your music. Instead of it being in a local music shop etc because thats only local.

I would start by working online until you get running and then look about an office etc. Would keep cost low and everything is done through the internet nowadays. As above facebook, myspace and twitter are your friend.

Do a bit of research on the internet or get a book, something to use as a guideline.

DMG_49

smcgiff wrote: »

I'm sure you've done your homework and know that the music industry is very much about contacts.

You're entering the publishing business, and will need to make contacts with retailers if you want to sell in shops. That's going to take business development costs such as travel and wine and dine. That's if they'd meet with you.

I'd say to get that far you'd have to have a reputation or a hook.

I'd imagine you'd have advertising costs - advertising to get artists.

When you get to the point where you've selected your artists you're going to have to get their music recorded and maybe print Demos. Not too expensive these days. You may want to stick to electronic sales channels. That would be less expensive and controllable, but tougher to attract your market.

Are you going to have an office or work out of your home? An office will be more professional (to meet artists), but more expensive... rent, rates and services charge.

Totally agree about contacts, can make things 100 times easier or harder depending on who you know.

smcgiff

DMG_49 wrote: »

Don't you mean easier to attract your market as its worldwide.

Could be wrong, but I imagine it'd be hard to build up a sufficient customer base from facebook etc.

But might be saying more about my lack of knowledge re the potential of these areas.

eire1

Thanks for the replies. I plan to keep it online for now. I basically want to set it up for my own band, see how things go. Do I just have to register with CRO and I'm ready to go?