What not to skimp on as an artist
- In which areas saving would be counterproductive
- How iGroove can support you and give you planning security
We all know, as a musician, there’s pretty much never enough money around. The budget’s somehow always too small and you gotta save as much as you can to make ends meet. Even more so when there’s a pandemic throwing a wrench into the works. Meanwhile, we also know the truism that you have to invest money to make money. As a musician, you therefore have to really think about where you can save money and where doing so may even be counterproductive.
No matter how talented you are, if the sound quality isn’t right, many won’t be able to recognize it. But renting a studio is expensive, and it is therefore worth it to consider investing in a home studio to save on studio costs long-term. Plus, you’ll be able to get started right away as soon as a new idea pops into your head. Mix and mastering are another area you shouldn’t skimp on, but definitely compare prices and performance levels. At the end of the day, your music should reach your fans with the best possible sound.
Just as important as your music, and some would say even more important, is your image or your brand. For the most part, this just requires time to find out how you want to present yourself to the public, what makes you unique and represents you as an artist. Once you have it figured out, you’ll need to broadcast this image through every channel at your disposal. Things that are really worth spending some money on are photos, graphics, and videos. The right press photos for the media and social media as well as eye-catching cover photos for your releases can make you stand out from the competition.
Another truism is that even the most amazing music won’t do any good if nobody ever hears it. So, it’s pretty much impossible to reach new listeners without investing in marketing. Here, too, it’s important to compare and do some research, and steer clear of dubious offers. Of course, you can also run all the ads yourself, but to do that, you should at least have some basic know-how. Our team at iGroove will happily advise you on your marketing strategy, tailored to your budget.
Very few make it in the music industry as a lone wolf. Behind every big artist is therefore a strong team. So, if you believe you’ve found the right people, don’t be a penny pincher. Share your revenues with them. At the end of the day, your team will ensure that your income multiplies, and so there will be more for you later even if you give up a share now.
Fortunately, this part also mainly just costs time. Especially if as an artist you do a lot things yourself, you are also the one responsible for staying updated on the changes and trends in the music industry. So, you should always make a little time to read up on things, watch tutorials, or listen to podcasts. With iGroove Magazine, we try to put together the most important developments for you, so you can save some time here.
Understandably, it can be quite daunting to invest when you don’t have planning certainty. We at iGroove try our best to counter this. For your short-term plans, we show you how high your next three payouts are likely to be. For the long term, you can see how much you will make in the next 6, 12, and 24 months. Once you reach a certain level, you can additionally request an advancement. You can thus make the necessary investments with a lot more peace of mind.