The music industry has been going through a power shift for a couple of decades. Unfortunately, the power has been very heavily shifted towards the top tier in each area, and away from the musician/band/producer. COVID has accelerated the need to adapt or move on.

This is not unlike the agricultural sector, as one example, where to survive in the traditional space you need to continue to grow the business and learn to work on ever decreasing margins to protect your investment in land and equipment. However, there is a small army of younger (and retired) folks who are taking a more "organic" approach to food production. Thinking on a smaller scale, and investing a lot of time in education and business planning, it is possible to succeed, although the definition of their success may not fit with everyone's view.

So too, we must educate ourselves and be serious about "business" planning to insure success, at whatever level that means to you and your family. Not every talented artist is equipped to do what it takes in this new environment.

There has never been a better time to equip ourselves to realize our creative pursuits. Equipment is relatively cheap and plentiful, and knowledge is easier to come by than ever before. Anyone who can become proficient on a musical instrument can learn how to operate a modern DAW and associated equipment. Many do not want to, or think they can't, or feel it is beneath them to add that skill to their arsenal. Those folks are going to be the customer for anyone wanting to maintain a commercial studio.

Are there enough of them in your area? Are you willing to go after them for the business? Do they have sufficient funds to realize their goals while supporting yours?

Do you have the discipline to run your business as a business? Do you have a mentor/partner who will encourage you to be passionate about your art, but brutally honest with you when discussing the business side of things?

All of the above "and" having a crystal ball that shows you the future in 5 year increments would give you a fighting chance.

COVID should have given us enough pause to seriously question our motives and predict our chance for future success.

In my view recording studios have been dying a slow death for many years before COVID. Really it started with MP3s and Napster. The old industry has real issues adapting too and embracing the change from a media product (CDs, Tapes, LPs) to an audio file. THe industry initially channeled their energy into fighting that change. That rarely, if ever, works.

ronmac, post: 468558, member: 24337 wrote:
There has never been a better time to equip ourselves to realize our creative pursuits. Equipment is relatively cheap and plentiful, and knowledge is easier to come by than ever before.

+1

Link555, post: 468559, member: 31690 wrote:
In my view recording studios have been dying a slow death for many years before COVID. Really it started with MP3s and Napster. The old industry has real issues adapting too and embracing the change from a media product (CDs, Tapes, LPs) to an audio file. THe industry initially channeled their energy into fighting that change. That rarely, if ever, works.

I remember walking in to an apartment my son shared with some college friends and seeing a tower computer sitting on the kitchen table churning away at a long list of files. When I asked what was up they told me about Napster and how it was possible to "own" all of the music in the world for free. My mind was blown!

After a chat and making plans to get together later I headed to the studio. I remember thinking that this wasn't going to end well....

Since Napster couldn't have existed without the internet. I guess the internet killed the music industry !! lol ..

pcrecord, post: 468562, member: 46460 wrote:
Since Napster couldn't have existed without the internet. I guess the internet killed the music industry !! lol ..

I think music video's were the beginning of the change for worse because it took the focus off music, put it on a video that really had little to do with the songs.

The record player was the beginning of the end of live music :).

Long before Napster and MP3s there were a lot of people making mix tapes. I remember a guy who sold over a 1000 of those a month.

He used first class TDK cassettes and had a distribution network via bars, workplaces and sport clubs. None of the middle men made a dime, but he built a small fortune by being faster, better (sound-wise) and cheaper (he sold a TDK C60 1,25 €) than the music industry.

When I worked for a big label, they were very well aware of piracy. One of the biggest vinyl pressing plants in Europe made around 50% bootlegs. My employer knew, but didn't care. When I asked why they didn't take action, the answer was "record shops need to buy our vinyl off the books, or they go broke". It didn't feel good. Later I learned the execs were pocketing their share off the books too. I quit the business.