A degree blend of business and law degree jobs could appease music industry rhythm.
Business degrees are useful in any field. Degrees with a focus on law can lead to a multitude of different jobs in nearly any industry. However, a combination business and law degree offers an extensive job network that could run through any area of life. From politician to journalist to banker to record label to accountant, the opportunities are endless for a dual-business and legal degree. The realm of the music industry is far-reaching as it is, extending throughout all disciplines. The combination of these degrees could help those seeking a career in music business make the most of their time in academia.
Music business professionals find themselves in situations where knowledge of business law is crucial. Even some of the highest compensated executives in the music industry must deal with legal elements on a daily basis. David Herron, author of Climb the Music Industry Career Ladder, says, “Every major contract entered into by a label has legal implications. Labels and artists work directly with entertainment lawyers to ensure their contracts are not only ironclad and worded to protect their interests, but also cover all necessary aspects of a venture.”
There are a variety of ways to use a business and law degree in the music industry. For that reason, the following example, found here, is one of many possible positions: Some managers, such as manager Joe Cicero of Fundimental Management, also become lawyers specializing in entertainment law. Cicero worked with a legal firm specializing in contract law. He quickly realized the value of having a legal background in addition to his management skills.
Cicero explains, “Most managers work hand in hand with entertainment lawyers on a regular basis. Being both a manager and an entertainment lawyer allows us to have detailed discussions with our managing client on every aspect of their careers from recording, publishing, video, branded merchandise, endorsements, film, television, touring and everything in between.”
While this example is quite useful to some, it does not paint the entire canvas of business and law job possibilities within the music industry. Paul Verna, analyst at eMarketer, weighed in on the matter with a different pair of shoes to fill, saying, “You can’t go from a startup to a billion dollar company with just a passion for music and artists.” We spoke to Verna to find out how he uses his legal knowledge to research music industry law and advice. His findings include:
Though some of the practical-business benefits of a business and law degree focus on artist and label relations, to the majority of fans music is a form of entertainment. Within the Setlist Media network, this is certainly the case. The business side of the music industry is often overlooked when factored into this equation. This is primarily because the pop-obsessed consumer is far from concerned with how an artist’s team works to keep the machine in motion. Honourable mentions in Masslive and ProSoundWeb both discuss the importance of advertising and marketing as they relate to both the consumer and the artist. Two articles in consideration of the fundamentals of music industry business is likely to miss the mark, sometimes. A more recent example shows this to be true. Consider the impact a business background could have on top-tier music festivals, record labels and competition agencies. Each company is reliant upon some form of advertising, public relations and strategy.
When asked about business and law degrees in relation to the aforementioned companies, Matt Rogers, Director of Rights Startups, responded, “These individuals are usually the face of the companies and are there to manage the strategies set by the designated owner.”
When relating to how business and law degrees could benefit current music-focused companies, Rogers said, “Enroll in a degree that is tailored for the music industry. A single course or two is not enough. It would be better to spend your time undertaking the degree in full.”
As it specifically pertains to music festivals, managing rights and stakeholder needs is imperative. Naturally, including some form of business and legal background can only be useful to current adulating music lovers over 18 once they enter the industry.
With constant shifts in music, advertising and promotion technology, every up and coming artist stands to benefit from the know-how of operational and employment law, but suited-for-charm business degrees often fall short in one category or another.
With that in mind, honourable mention goes to Matt Ingram, Artist Manager, The Talent House (here). Mostly handling artist relationships, Ingram uses his knowledge of business and law to guide negotiating tactics and contract strategy. Ingram added, “In the current landscape, artists would benefit from working with managers who understand how to read and understand contracts, and how to manage the ‘business’ of being an artist.” Whether with a major record label or independent venture, Ingram’s legal background can be a real money-saver when revenue is on the line.
For all the push artists and record labels place on fans when it comes to showcasing their music, all do not have the rare opportunity to produce a hit album, but the handful of fans who wish to peruse song lists in return for financial compensation for an outsider’s work, do have legal means to protect their cash-crop progress. In a rush to get those first few big gigs that pay more than peanuts, many artists are willing to sign anything. However, demonstrating the benefits of a business degree focused on law has the potential to save artists & artists’ teams of lawyers and managers countless thousands.
To contextualize this whole concept, business and law degrees offer the versatility for one to fall into the interesting world of music. Once stuck in, those recorded or written or advertised upon would have legal and operational protection. Recordings are 1s & 0s, but money is in play and there is never enough of it, even if there are plenty of .coms and .nets for the audible that cannot be seen.
The above-mentioned professions are a short list of how one with a business and law degree could benefit the industry:
No matter what direction the industry moves, professionals with adequate exposure to both degrees can offer employment and legal protection strategies for artists of every scope. The music industry, as it has matured into the digital age, has proven to be a real cash cow. The only problem now is leveraging success across a few more .coms and .nets in a reasonable time frame.
Maybe in a few years, we will see business and law being taught together.
I hope you enjoy this piece, as I pride myself on being a music fan across many platforms. When researching this article, I found a preference for shared lists, such as, The Music Industry and Common Degrees of Employment, as opposed to a published single. Perhaps the list-making site, Listly, was to blame, but regardless, I believe Pop ‘stache has a finger on the industry’s pulse.
For more information on the intersection of business and law in various industries, you can visit Wikipedia.
