How To Finance Your Music Licensing Business
As they say, it takes money to make money. The music licensing business is certainly no exception to this rule. Due to the nature of the way the business works, there is a considerable lag time between the time you license one of your tracks and the time you get paid. And of course before you can even begin to attempt to license your tracks you’ll need to have quality recordings, which takes money.
But don’t let this fact discourage you. If you’re resourceful, there are ways to get your tracks recorded for little or no upfront money of your own.
A great way to record tracks on the cheap is by collaborating with other musicians and producers, in exchange for a percentage of any of your future earnings. It of course helps if you have a track record to bring to the table when negotiating with potential collaborators.
These are tough times for a lot of people and many people are open to creative ways of getting things done. I’ve been doing these types of deals long before the recession. So don’t be afraid to think outside the box and come up with arrangements that are unorthodox.
A typical deal for me has been offering producers 25% of any earnings I make in exchange for free studio time. But there are no rules! Another possibility is paying someone a reduced rate on the front end in exchange for a smaller back end percentage. The bottom line is not to let a lack of funds deter you from pursuing your passion. Think outside the box and get things done!
P.S. Aaron Davison is the creator of a course called “The A to Z of Music Licensing”. Want to check it out? CLICK the link below for instant access!