According to the music industry source Buzz Angle, (2018), only two albums sold more than one million copies in 2017 in the United States. In addition, on any given day in 2017, there were more than twice as many streams (1.67 billion on an average day), than there were song downloads for the entire year. Music is pure inspiration. But for the music industry, the problem in a nutshell, has been change, adapt, or die. The industry has found its answer in the live ticket, branding, touring, merchandise, and corporate sponsorships based on the 360-business model.
The 360 Music Industry is the first book of its kind to detail the dramatic changes technology, laws, and consumer attitudes have provide for the industry to re-invent itself into a new business model. The industry is based on financial investments into the artist's creativity based on digital marketing and streaming revenues. An analysis is provided in the 360 Music Industry book about how listening to music is used by analytics to break fans into different market types that may then be exploited (in a positive way) for profits through social media promotion and publicity.
Songwriter and music publishing deals are provided with information about the various types of revenue generating licensing. Each record label department, their administration, and operation strategies are tied to the 360 deals and how they best represent the artist, their recordings, events, and tours. Artist representation is detail through the personal manager and the corresponding business managers, attorneys, talent, and booking agents. The concert promotion industry is detailed through the process of a bid sheet to determine the cost and potential profits from a show through scaling the house.
Special segments in most of the chapters, provide beginners with information that may help them determine how to get started in the industry along with samples of budgets for rehearsal, recording, and a 40-day tour. The last chapter provides information about various types of industry related and connected career opportunities with the information based on government statistics.
Wacholtz, Larry E.: - Dr. Larry Wacholtz is Professor of Entertainment and Music Business at Belmont University in Nashville. A consultant to industry professionals with with a history of psychographic research for MCA and Word Records, he is also a member of NARAS, USASBE, MEIEA, IFBPA, and other organizations. He is also the former Director of the Center of Music Business Entrepreneurship at Belmont University. Wacholtz has also written extensively on the entertainment and music business, and has presented research papers at many industry national conferences.
