The Producer Files Issue #23
Read time: 5 minutes
The Producer Files are brought to you by Dark Label Music.
We help music producers achieve financial stability.
Our 1:1 advising, easy-to-follow business strategies, and professional peer community will ensure that you're able to build a reliable brand and multiple income streams much faster than doing it on your own.
Click here to learn about our services
As always, thanks for reading!
In this issue (#23) of The Producer Files:
Ï Quick Tip: How music producers survive a DOWN economy
Ï Mindset: Financially stable producers have a unique way of thinking (and you can use it)
Ï Celebrate: London-based producer celebrates first $5,000 month producing songs
Ï Plus our recs (recommendations) of the week!
QUICK TIP: How music producers survive a DOWN economy
Yep! It's not just youâŠ
Everyone is feeling a little âsqueezedâ right now in this economy.
So, how are producers supposed to survive this thing?
Well, I've got some ideas for you!
But it's important to know first that this is not the only time we've been in this situation.
Check out the date from this articleâŠ
Many music producers have survived times like this before and will again. As the old saying goes:
âWinners will win despite the economy.â
So, here are a few practical ideas to think about as you continue to forge your path into the next UP economy:
1 - Smaller to bigger client relationships
If you're finding it difficult to land the big production fees that you're used to with clients, then start with a smaller engagement and work up.
For example, if they can't take you up on your normal offer of $2000/song, offer a $400 day rate to break ground on their project.
Real artists are most likely not going to QUIT music entirely because of the economy.
If they did, then they would be âquittingâ about every 8-10 years.
So, it's safe to assume that they still want to have great music produced - they just might need more options to choose from with you.
During a down economy, it's easy to assume that no one HAS money (and that is true for some), but for others, it's just that they are afraid to SPEND their money.
Try making it less scary and you'll find that the total adds up in the end.
Pro tip:
Education is still crushing it in this economy, because people especially value learning new skills when money is tight.
We've had a handful of producers start bolting on mentorship to their production, mixing, and recording offers and clients are immediately valuing it more.
The producer doesn't really have to do all that much different than they normally wouldâŠ
And they don't even have to âbrandâ themselves as an educatorâŠ
They are simply rendering the same service as usual but making it more interactive for the client, and explaining what they are doing as they do it. Easy.
2 - Lean into local
We've noticed that our producers who seem to be maintaining easier in this economy are the ones who have studios where artists can come to record.
It doesnât have to be a commercial studio necessarily, just a setup that allows clients in-person.
To be honest, I donât know exactly WHY they are doing better.
If I had to guess, tracking is still something that is hard for artists to do themselves.
Or it could be that it's just more of an experience (artists just want to go somewhere that isn't their apartment to create music).
Or maybe itâs just that hourly rates are easier to swallow right now?
What these producers are doing is using the studio as just a way to get artists in the door so they can build a bond with them and then move into bigger engagements (full production projects, etc.) similar to point 1.
3 - Old can be better than new
Getting new clients is typically harder than keeping the clients you have now.
When things get tight, itâs easy to want to spend ALL of your focus acquiring new work, but don't forget the people who are already paying you (or have paid you in the past).
Sit down with them and explore if more of a retainer model would be a better fit. Affordable for them and predictable for you. This video explains that.
In addition to that, spend some time re-engaging past clients.
It always shocks me to learn how infrequently most producers reconnect with past clients to re-book them.
I know it can be easy to forget about, but it's one of the simplest ways to grow your business. They already have a bond with you and trust you.
4 - Double down
Anytime the economy gets tight, the bottom 20% is knocked out of the market.
And guess what? None of those producers in the 20% thought it was going to be them.
Why did it end up being them?
Well, it wasnât sudden. Their business died a slow death because they retreated and ânumbed outâ instead of doubling down and taking advantage of the moment.
Most of your competition in the market is freaking out right now, so now is your time to do the followingâŠ
Invest only in things that will GROW your businessâŠ
(while everyone else is hoarding their money out of fear - their business is shrinking)
It will seem counterintuitive and crazy but it works.
Itâs how Iâve survived 12+ years earning multiple 6-figures per year in music while many of my counterparts have unfortunately been knocked out of the game.
I used to questionâŠ
âWhy am I still here but they aren't? Why me?"
I realized overtime that It wasn't luck. It was strategy.
It was decisions I made that they didn't.
And if thatâs not possible for you right now (money), then double down on your intensity.
You would think producers would work harder in a down economy, but thatâs not what Iâve noticedâŠ
We (humans) actually have a higher chance of crumbling under pressure than facing it head-on.
I myself even have to fight off that feeling sometimes so I get it!
Maintain a good pace and intensity when it comes to your effort and output, and be mindful of slipping into that dreaded feeling of apathy (it will do you no good!)
Your decisions during this time will dictate what things look like 2-5 years from now.
We're rooting for you!
MINDSET: Financially stable producers have a unique way of thinking (and you can use it)
Big changes are happening in the music production world, and it's pretty awesomeâŠ
On a weekly basis, I meet anywhere between 10 to 30 new music producers who reach out to me to discuss the state of their career.
Some of them are grasping tightly to their âold ways,â and that's their decision, but I've also noticed a new trend that excites meâŠ
More and more legit producers are really starting to âget itâ when it comes to career building in this industry, and they are taking responsibility.
There is a mindset that EVERY producer I work with, who has achieved financial stability, has, and it's a mindset that any of you can adopt right now.
It's as simple as this:
They don't view the business side as separate from or competing with the music side; instead, they see the business side as the thing that ALLOWS them to truly focus on the music side.
One of the most common statements I hear from producers is, âI don't want to focus on the business; I just want to focus on the music.â
Wouldn't it be easier to focus on the music when things are stable, and you're not stressed about how the rent is going to be paid next month?
Well, you can make that a reality for yourself. Many have.
I'm truly glad to see producers taking this into their own hands.
I think enough of them have done the whole:
âLet me go get a bunch of label work and big credits, and then I'll be financially secure" thing.
The biggest myth in music production, and if you haven't found that out yet then you will soon.
I've advised producers at every level possible including the bigs:
Multiple Grammys
Hall of fame-ers
Billions of catalog streams
Iconic hit records
Etc
So, this advice is coming from someone who HAS worked with producers that have hit all of the milestones that you think will bring you instant stability.
And let me be clear, I still want you to go for the gold!
But, I also just want you to know that most of the time it does not equal long-term career stability..
(just so there's no surprises later!)
Career stability is created by a producer's behavior (day-to-day), and our behavior starts with how we think.
I wish for all of you reading this that you will come to the conclusion (if you haven't already) that being business-savvy does not conflict with making music but instead allows you to do it longer and at a higher level.
CELEBRATE: London-based producer celebrates first $5,000 month producing songs
We want to take a moment to give flowers to one of our producers who has been working extremely hard over the past year.
He's built this new income stream (working with clients) from scratch and has consistently stuck to the plan we gave him.
Despite the day-to-day challenges of balancing his other music income streams (teaching, live sound, classical performance) and the high cost of living in London, he's making it happen.
Read what he had to sayâŠ
Recs of the week
ă°ïž
Recs of the week ă°ïž
Ï If you are communicating with your clients and peers in multiple places (Facebook, Discord, Instagram, SMS, WhatsApp, etc.) then this tool organizes all your messages into one inbox. Check it out here.
Ï And this video discusses the 5 different types of capital in the music industry and how to gather + leverage each one. Watch it here.
That's all folks! Thanks for reading The Producer Files and when you're ready, feel free to reach out to usâŠ
Leverage our data and expertise working directly with 600+ professional music producers, from bedroom studios to the Grammy-winning talent behind your favorite songs.
