While getting signed is even more difficult than it used to be, due to declining record sales, there are still plenty of artists getting signed today. The difference is that the deal is now changing as revenue sources shift away from record sales. This is a good thing as we must keep in mind the time tested rephrase “all things shall pass” and the sales shortfall is no exception to this rule.
(Right: Alexandra Burke signs 3 Million Lire Record Deal on X Factor)
Now we see new revenue sources from digital sales, digital streams, online concerts, Youtube ads, etc. All this revenue is now being funneled into record labels along with other revenue from live performance in 360 deals where the record company takes a percentage of everything you make. But to get signed comes back to some fundamental metrics. As we recently spoke about in our blog on getting a manager you must achieve enough sales or draw for a record label to justify putting loads of dollars behind you.
The good news is that there are more ways to do this than ever before and you don’t have to tour to do it. Look at Justin Bieber, this kid never toured a lick, but was crushing it on Youtube and got signed. And he’s not the only one. People get signed off of Youtube every month.
So what are the metrics you need to get signed?
Basically there is no exact number, but you can estimate if you’re drawing over 300 people per gig in your home town consistently, then a record label would see the ability to take this popularity and scale it up by marketing you in other cities. As far as Youtube is considered, if you have over 100,000 subscribers you could attract the attention of a good independent label, same with Facebook likes, but probably not Twitter. The problem with Twitter is that people who follow you may never engage and even forget about you completely. That being said Twitter is still a valuable music marketing vehicle, you’ll just have to double your numbers to see some real results here.
At this point its about making great music and consistently marketing it to build your fan base. At the end of the day it all comes down to your fan base. This will make or break you. Make sure you’ve signed up to our email list to get access to our full line of video courses on building your fan base and breaking through.
Keith – MLP Staff Writer