If you’re in the entertainment business, you’ve probably heard some great tales. The following is a list of some of the top myths about the music business.

1. People in the music business will help you out of the goodness of their hearts.

Acts:

The music business is called the music business for a reason. It’s a business that happens to sell music. Companies are in business to make money. They are not in business to make ART, however they will sell it. You may find a handful of Good Samaritans willing to help for free, but generally speaking, if the help doesn’t benefit the other party, they won’t help.

“People (not counting loved ones) will help you if they think your art will make them money. They won’t help you if they think your art won’t make them money.” -David Naggar, Esq. from The Music Business Explained in Plain English-

2. Since the economic decline, people don’t buy music anymore.

Acts:

People are buying music, but they’re not buying it the same way they used to. CD sales may be down, but single track sales are up! If you’re not a believer yet, just check the iTunes sales records. Apple has reportedly sold 10 billion and counting!

3. Music superstars have and are making tons of money.

This is one of the biggest myths in the entertainment business. When you see Sean Kingston or Lady Gaga on TV, you might think they’re living a good life, but in reality, how much money you bring home really depends on the terms of your contractual obligations, as well as your project management skills. money. . Simply put, if you spend more than you earn, sooner or later you will end up broke.

I need examples:

MC Hammer

Marvin Gaye

michael jackson

Willie Nelson

Tony Braxton

Billy Joel

George Clinton

Isaac Hayes

jerry lee lewis

Rum Isley

Need more? The list goes on.

The fact is that all of these artists have seen the ups and downs of the music business. Micheal Jackson, the “King of Pop”, even had the money problems from him. No “superstar” is exempt. Good money management skills are needed to maintain a “superstar” lifestyle.

4. You can become a celebrity in the music business overnight.

This is one of the most common myths about the music business. People think you can sign a record deal and then all of a sudden you’re magically on magazine covers and getting Grammys. All this talk is nonsense. At the end of the day, it takes a decent amount of work, dedication, passion, perseverance, and strong networking relationships to achieve “success” in the music business. NO ONE HAS SUCCEEDED OVERNIGHT However, some people have achieved their goals faster than others. Artists like Wiz Khalifa, Kanye West, and Eminem spent years building their reputations and brands to become the people they are today. This is why working smarter and not harder is essential in the music business.

5. Talent trumps work ethic

In today’s music business, talent still counts, but work ethic counts more. An extraordinarily talented person with an average work ethic will generally not do as well as someone with an extraordinary work ethic and average talent.

A strong work ethic, more often than not, means you can be consistent, which is of the utmost importance in the music business.

Why?

A word. Marketing. Being able to consistently deliver high quality to the consumer is paramount. This is where work ethic trumps talent. A person who is able to consistently deliver a satisfying product to the consumer is, in the words of Charlie Sheen, a WINNER! Due to our ever shorter attention spans, having someone or something constantly in our faces helps brand the product, service or person. Ultimately, this results in people getting paid!