Why Musicians start businesses?
Why Musicians start businesses?
Musicians create a brand by becoming famous . They have reach that can reach millions of people all over the world. This means they can take advantage of it by starting brands that can becomes successful. Musicians career may not last long and starting a business could be an additional revenue. Musicians job is different from being an accountant , Lawyer , Doctor. They have to keep entertainign people with good music or else people will loose interest in them very quickly . Whereas a job like lawyer , Doctor they will keep having a job . They tend to be a lot more stable .
Business can help you navigate the music industry. Musicians don’t always understand the business . Starting a business can give you an understanding of when you have you have to put a tour together . Starting a tour is a business because you’re entertaining in exchange for tickets for them to pay.Sometimes for musicians doing sponsorships , advertisement , endorsement may not always be enough for them and want to create something they can pass to their children. There are rappers out there who have publicly spoke about ownership and how important it is . Because then you have to overwork to keep making money for the person that own you.
When they start a business they can have control of the creative side and be free as possible. They can express themselves even more. Furthermore can also bring something new to the table especially if they start a business for their own generation for example Jayz and his co founders created a clothing line for their own demographic and it became very successful. They already created a succesful label and had a brand outside so creating a clothing line was going to be a good idea. However , just because you have a brand. It doesn’t mean it will become successful it has to be the right product for the right demographic.
11 Musicians’ Doomed Business Ventures That Failed To Set The World Alight (nme.com)
