If you’re trying to make a living from music licensing, or even if you’re trying to make just a part time income, then you need create music that is high quality. For most of us, this entails investing a considerable amount of time and/or money into our music, in
order to get our recordings where they need to be for licensing.
For a lot of musicians, this is a big obstacle that holds them back and prevents them from really going after their goals and achieving success with their music. Like most musicians, this has also been a challenge for me over the years. During this post I’m going to discuss strategies that I’ve implemented that have helped me reach my goals and create great sounding, marketable songs, without going broke in the
process.
When I first got into music licensing, way back in 2002, I was unemployed. I was working odd jobs here and there just to pay my bills. This was several years before I started my business. Times were tough for a year or two. But I was young and what I lacked in resources and money, I made up for with ambition and youthful energy. I wouldn’t let my situation hold me back.
During this period I was adamant about getting my music licensed. I tried
unsuccessfully to get some of my tracks that I had already recorded with my band at the time licensed, but to no avail. I had a good sense though of what kind of music was being licensed at the time, and I knew that I could write songs that would work in that context. So, I took a chance and I scraped together about 500 dollars to record a song that I felt had a lot of licensing potential and I recorded it with a local producer that came highly recommended.
Although I could
barely afford the recording costs at the time, the gamble paid off in the end and I made about $1,200.00 from the songs’ initial placement on an episode of The Young & The Restless. Over the years I’ve made even more money from this track as it’s been used over and over throughout the years.
Since that time, I’ve become much more strategic about recording and have developed some great relationships and partnerships that have allowed me to record music more
affordably.
Here are a few different ways I’ve approached recording that has helped me save a great deal of money and most importantly, conserve my cash flow, compared to simply going into a recording studio and paying for everything at once.
Track In A Home Studio And Mix And Master In A Pro Studio
A simple way to save a lot
of money is to simply lay down all the basic tracks in a home studio, either yours or a friends, and then send your stem files to the producer you want to work with to mix and master your tracks. This can save you an enormous amount of money compared to paying by the hour to record and track everything.
It’s extremely nerve wracking to perform well when you’re recording, when you have the added pressure of knowing that you’re paying an arm and a leg by the hour, each hour you’re
recording. It’s probably the worst case scenario for recording and getting a great performance, at least for me. If you’re the type of musician that thrives under pressure and can rise to the occasion in situations like this, more power to you. But for me, this sort of scenario creates too much stress. I prefer to record music when I’m relaxed and not worrying about time or money.
Of course, if you go this route, you need to have adequate equipment to do this and you need to
make sure everything is set up properly. Even if the producer you’re working with is amazing, there’s only so much they’ll be able to do with your tracks if what you’re delivering them isn’t good. This is a great reason to brush up on your recording chops. It’s really not that hard to learn how to get good vocals, guitar tracks, etc. and you’ll save a ton of money in the long run if you learn how to do this.
Check out the course I created with my producer, Gary Gray, called
Music Production Fundamentals for a great education on how to record your own tracks.
More info: http://www.howtolicenseyourmusic.com/production-fundamentals.php
No Money Upfront And A Percentage Of The Back End
Over the years, I’ve also negotiated
deals, with multiple producers, where I simply agree, in writing, to give them a percentage of anything I make from licensing revenue, on the tracks they produce. This is of course much easier to do when you have a track record of placing music. You can do similar deals with musicians that perform on your tracks as well.
Musicians tend to be incredibly flexible when it comes to things like this. Obviously not everyone will be open to this arrangement and you need to be a
good negotiator, but in my experience, a lot of musicians and producers are more flexible than you’d realize at first, and are open to creative ways of being compensated.
I’ve given producers anywhere from 25 to 50 percent of anything I make on my tracks, depending on the amount of work involved, and the skill level of the producer involved.
Some Money Upfront And A Percentage Of The Back End
Another, alternative arrangement, is to pay producers a
smaller, discounted rate upfront and a smaller percentage of the back end. This is, understandably, easier to set up. We all need money to meet our immediate expenses, and due to the nature of the music licensing business, under even the most ideal circumstances it can take a long time to get paid.
I always aim to create win-win arrangements, where everyone involved is happy and getting their needs met. The last thing I want is a producer or musician, to be-grudgingly
help me with my tracks. This will inevitably show through on the tracks and will diminish the quality of the final product.
From a business perspective, cash flow is extremely important. Be smart about how you finance and pay for things. There is an element of truth to the “starving artist” stereotype. But it doesn’t have to be that way. From a business perspective, you need to approach licensing your music in the same way you would any business. In other
words, buy low and sell high.
What about you? How do you approach recording your songs? What works for you?
Share your thoughts here:
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