"Managing Artists in the Digital World"

As we all know, the music industry has changed tremendously in the past decade, due to the takeover of digital media and technology. People are either purchasing their favorite artists music from digital outlets, or downloading their music for free through piracy on websites that allows you to download music, movies, and video games, etc. from their sites. This is one of the reasons why artists today, will never know what it would feel like for their music to reach platinum status. So, my question to you is, what’s the best strategy or plan for a manager whose managing an artist in this digital world?

An article I read in Forbes titled, “FourFearless Predictions for the Music Industry in 2014” stated that artist management reshuffling will continue. I believe this is due to artist managers’ lack of being technical savvy, meaning that, they are not capable of managing an artist in today’s digital world. Some of the biggest names in music have been switching managers, from U2 to Lady Gaga to John Mayer. What I see from this is that, it’s time for the young artist managers to step their managing game up, and get out there and network to get their contacts up. The only way to do this is to start attending seminars, music conventions, and showcases; basically wherever you can possibly get an opportunity to meet with the gatekeepers in this music industry. It is said that, if you do not have any connections with the gatekeepers in the industry, then your chances are very slim on reaching success in the industry.

Streaming and digital downloading has taken over the music industry as far as sales go today; the CD will soon be extinct. So, really what artist managers need to do, is do they’re research about these streaming and digital download services. Managers need to find out these services pay out. It is said that these services pay out 70% of what they take in, just like Spotify and iTunes; which is great for an artist, well an independent artist. The reason why I say it’s great for an independent artist more than an artist signed to a label is because an independent artist has less people in his/her pocket, if any beside him/her, and their manager.

I read and article on Billboard’s website, where Vector Management’s Nick Stern stated, “As we move into a world where the dollars from the streaming services add up -- and overall revenue from the sale of music continues to decline -- it's time we all took a step back and figured out how to make this business run more effectively. There is just no reason labels can't update their systems, and there is no reason why we shouldn't be privy to the terms of their deals with the streaming services.  This is now an all-digital world - there are no returns, no packaging deductions -- it shouldn't be that difficult.” What the problem is is that artists now prefer to go independent rather than be a puppet for these labels, and that’s why the labels are taking their time updating their systems. Artist(s) today are only looking for major labels to distribute their music and that is it. 

So, what I’m basically trying to say to artist managers is, if you want to stay on the boat and not get kicked off the boat, you better make sure that your up to date with this new music industry and everything digital about it. If you cannot help an artist expand their career as far as the digital world goes, you could possibly be without a job, sooner than you think.