The Business of Music

Future of Music Coalition (FMC) and the Center for Cultural Innovation (CCI) present a new workshop focused on the unique needs and challenges of working musicians. Modeled after CCI’s signature Business of Art™ workshop series and FMC’s Artist Revenue Streams research, this two-day workshop on June 21 & 22, 2014 brought working musicians together with industry experts to explain the tools and considerations crucial to entrepreneurial success and independence in today’s music marketplace. Our experts represented all facets of the industry and led participants in learning key business skills to help advance their art, develop ideas, and increase financial independence.
The two-day program covered:
- Identifying your income sources and assets, both tangible and intangible;
- Spending money, including project budgets, creating cost projections, and recordkeeping;
- Managing projects, including setting income goals, raising funds, and managing cash flows;
- Business basics, including taxes, organizational structures, and building your team;
- Sustainability in a changing industry; and
- Long term financial planning and goal-setting.
With plenty of time for questions, free-flowing discussion, and the exploration of case studies, this program offered a chance for musicians to dig in on what about their business model was working, and what needed to change. What have you learned about managing your money or assets that you would share? What services and tools have been useful? How do you plan in a world where you have very little control?
Confirmed speakers included:
Bryan Calhoun digital media strategist and entrepreneur
Jean Cook co-director, FMC’s Artist Revenue Streams project
Miata Edoga financial coach, the Actors’ Fund and Abundance Bound
Gordon Grayson Electronic Media Division Administrator, AFM Local 47
Julia Nunes singer-songwriter/composer
Marcy Rauer Wagman attorney, artist manager and label owner
Stefanie Taub Director of Sound Recordings, SAG-AFTRA
Kristin Thomson co-director, FMC’s Artist Revenue Streams project
Heidy Vaquerano attorney and artist manager
Jacob Yoffee composer