Tom Stein - The Business of Music Management: How To Survive and Thrive in Todays Music Industry

The Business of Music Management

The Business of Music Management

How To Survive and Thrive in Todays Music Industry

Tom Stein

The Business of Music Management: How To Survive and Thrive in Todays Music Industry

Copyright Business Expert Press, LLC, 2021.

Cover design by Charlene Kronstedt

Interior design by Exeter Premedia Services Private Ltd., Chennai, India

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any meanselectronic, mechanical, photocopy, recording, or any other except for brief quotations, not to exceed 400 words, without the prior permission of the publisher.

First published in 2021 by

Business Expert Press, LLC

222 East 46th Street, New York, NY 10017

www.businessexpertpress.com

ISBN-13: 978-1-95334-966-8 (paperback)

ISBN-13: 978-1-95334-967-5 (e-book)

Business Expert Press Sports and Entertainment Management and Marketing Collection

Collection ISSN: 2333-8644 (print)

Collection ISSN: 2333-8652 (electronic)

First edition: 2021

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Testimonials

By far the best current guide to help you succeed in the music industry in 2021+. Great overview, especially the specific action steps at the end of each section. If youre ambitious, read this and act on it now!Derek Sivers, Founder, CD Baby

Easy to digest book on how to make a living and find success in the music industry today.Lauren Gehle, Berklee College of Music Student

Tom Stein is a real shaman when it comes to the business of music. His knowledge is vast. He writes fluently and clearly, he is thorough yet organized, and you cant stop reading him. Most importantly, the information he lays out for the reader of his book is overwhelmingly useful and essential for every musicianfrom the wannabe to the professional and experiencedwho wants to succeed or simply do better business. Recommendedyou need this book!Ady Cohen, Film Composer, Professor, Speaker (Israel)

An incredible piece of work that blends a number of different disciplines including business, communication, psychology, leadership, interpersonal communication, sales, marketing, and more that all point toward the music industry and succeeding in it. Bravo.Bobby Borg, Author of Business Basics for Musicians and Music Marketing for the DIY Musician

Toms book provides essential, practical and real-world strategies and advice that melds art with business that not only informs, but also inspires a level of confidence for readers to successfully manage their own artistic journey and career.Sean P. Hagon, Associate Dean of Career Education and Services, Berklee College of Music

Tom Stein is a master of music business and planning. He is a leading figure in management, career planning, and the general business industry. Mr. Stein enlightens his students and colleagues in every aspect. This book is a masterpiece of his years of experience. Its a brilliant must-have book for every musician. I strongly recommend this book to my colleagues.Utar Artun, Award winning composer, arranger, pianist, percussionist, and educator (Turkey/USA)

Tom Stein shows a deep and profound understanding of the music business and music industry.Through his personal teaching experience and years of research in a field of music business, communication, psychology, leadership in this book he covers everything that young musicians should know before entering the world of music.Gojko Damjanic, Educational Consultant GDEduConsulting (USA)

Tom Stein operates from a base of exhaustive specific knowledge and direct experience more than most people I know. This deeply generous book not only draws from seemingly every conceivable force connected to the business of music business, but mentors you through some soul searching as you build your own pathways to successfully navigate this maze.Samuel D. Skau, Senior Consultant for Strategy and Project Management, Gaudium Artopia, Center for the Performing and Visual Arts, Hyderabad (India)

Growing up, we all have dreams. To be an astronaut, a firefighter, or a rockstar. We just dont necessarily know how to make our dreams a reality. Toms book provides the blueprint for how to bring the rockstar dream into fruition.Jonny Havey, CPA, MBA | Co-Founder VP Legacies

Description

The books focus is on successful music entrepreneurship and career development in the global music and entertainment industry.

Who Is It For?

High school and college students, including graduate level, who are embarking on careers in the global music industry. Students from abroad seeking to study in the United States or in other Anglophile countries, individuals preparing to enter the global entertainment industry, and adults interested in pursuing full- or part-time careers in music, or already working in related fields, such as event management, sports, experiential communications, or broadcasting, will also benefit. Besides students and careerists, the book is useful for university and college faculty, administrators, or course developers seeking to establish music industry educational programs because it highlights specific areas for curricular content and development.

What Is It About?

The list of specialized occupations filled by musicians is lengthy, for example, performer, producer, arranger, composer, songwriter, lyricist, music editor, publicist, recording engineer, conductor, sound technician, manager, entertainment lawyer, promoter, booking agent, tour manager, music educator, vocal coach, private instructor, music supervisor, music programmer, electronic DJ. There are also careers ancillary to music, such as event organizer, music therapist, radio station director, art director, advertising director, or entertainment director.

Music as an industry is multifaceted and is a subset of the broader entertainment industry which includes sports, cinema, broadcasting, and creative digital media. Music plays an important role in advertising, marketing, video games, film, and digital media, and there are tie-ins to tourism, restaurant, fashion, and the hospitality industries. The entertainment and creative industries in aggregate are viewed as a potential growth area by governments and by commercial concerns and often targeted and supported as a tool for sustainable international trade, plus economic, social, and cultural development. There is even such a thing as music diplomacy, as a component of cultural or soft power diplomacy.

As with many professions, the set of skills, knowledge, and strategies required to become successfully employed in music and its related fields are not the same set of skills needed to do the actual jobs. Young musicians and others with the ambition to work in the music industry are often baffled by the many options available, conflicting information, and the lack of a clear path to success. They are thirsty for balanced and reliable knowledge and clear direction on how to prepare for a career in the industry. Universities, colleges, and specialty training schools offer programs designed to help individuals prepare for careers in music, leading to certificates, diplomas, or degrees, including at the graduate level. But the focus of the trainings and curricula are often only on the skills needed to perform the work and not on how to access the work through careful career preparation and entrepreneurial thinking. There is a dearth of relevant information about how to access the opportunities, leverage the training and the networks gained in school, and how to succeed through meeting the true demands of the industry. This book aims to fill this need.