The music community is an ever-expanding entity with enough room for new labels and imprints to be heard. You do not have to be a musician to get your hands busy in the industry. All you need is some passion and love for music, and you can support artists, help them find their footing, and grow their listeners.

The modern digital age has revolutionized the world, and as such, starting and running your own record label business has never been more accessible. Whether you are an independent artist looking for ways to increase credibility to your music, a producer, or a music lover, setting up a record label is something you can consider. Below are some critical points that can help you get a brand new and shiny record label on its feet fast, efficiently, and legally.

What is a record label?

Before we jump in, let’s understand what a record label entails are. Generally, it seeks to represent and support the music of artists. Record labels can be divided into two, either as a major or independent record label. Major labels are massive, and they usually have their in-house promotion, press, distributions, and their artist are usually on huge budgets.
All the other record labels are placed in the same basket as an independent record label, and they usually outsource their distribution, promotion, and press from other parties. Such labels’ budgets depend on their success, where it can be as big as that of a major or small. One example of a majorly successful independent label is the likes of Benjy Grinberg Rostrum. So If you are planning on starting your record label, you fall into the indie record labels.

What do you need to start?

There is no record label without music. So the first step should be identifying the genre of music you wish to specialize in. It is essential because the type of music can help inspire the label name and branding. You can choose one specific niche or a broader scope because there is no restriction. However, with music, it’s best to select the music that invokes your passion. It’s also important to note that a more defined label genre helps create a stronger brand.

Come up with a name for your record label

Sounds easy enough, right? The truth is that coming up with a good name is no small task. It should be unique, which means that there should be no one else using a similar name. It also needs to be true and clear on the type of music you want to represent and release. You will need to dig deep to ensure that your preferred name is not nabbed already.

Choose the type of business for your record label?

It’s never too early to decide whether your label will be a sole trader, partnership, or even a Limited Company. Suppose you choose to make it a Limited Company, then the label will stand on its own as a separate entity from you, and you will have to file public accounts. A Limited company’s advantages are that it allows you to protect your assets if the label sinks. It also helps you protect the name of your business and add credibility to your brand. As a sole trader, you only have to provide self-assessment accounts annually. However, the liability of the label falls on your shoulders if the label folds. You can choose to start as a sole trader and register the label the company as a Limited Company later after things fall into place.

Create a Brand for your record label

Branding is a crucial aspect of any business. You will need a logo that meets your taste and music genre you will be representing. You can make it as straightforward or as complex as you wish.

Create an online presence

Today, the internet is crucial to a business’s success and more so in the music industry. You will need to make your online presence matter in various social media accounts and make an effort to generate as much traffic as possible. Most record labels such as Benjy Grinberg Rostrum utilize different social media platforms to promote their music. You will also need a website for your record label.

Find your music

There is no record label without great music releases. As you start, you will need to have a few record releases lined up because the music world is super competitive.
However, be careful in choosing the music as quantity is not always equal to quality. A few but strong releases could be all you need to rise above the noise.

Artist deals and contracts

After choosing the type of music to release, you need to make fair and binding contracts with the artists. The excellent news about indie labels is that they are more flexible, and negotiations on agreements can vary from one artist to another depending on various factors. Ensure that the contract lays out clear terms.

Conclusion

Running and managing a record label is a learning process. Learn from each new release and endeavor to make improvements on the next release. Just get the basic stuff right, and your label will be a success.