KnowTheMusicBiz.com » Entries tagged with "musicbizMBA"
Music Biz MBA: Business Formation Options for Indie Musicians
Bands and musicians have several options to choose from when deciding to form a business entity including, but not limited to setting up a: sole proprietorship, partnership, a limited liability company, and a corporation. The steps for forming a business entity for a band range from being fairly simple to quite complex, depending on the type of business formed. Choosing a Business Entity Type There are many factors to consider when deciding what type of business entity … Read entire article »
Filed under: Biz Blog, Featured, MusicBiz MBA
MusicBiz MBA – Determining The Most Profitable Place to Sell Music Online
Artists have countless options for selling their music and merchandise online these days. Shouldn’t you be directing your fans who want to buy your music or merch to the place where you make the most money on a per sale basis? A quick “contribution margin” analysis can help you identify your most profitable sales channels. Once you’ve identified your most profitable sales channel always be sure to direct your fans to that most profitable channel … Read entire article »
Filed under: Biz Blog, Featured, MusicBiz MBA
Income Statements in the Music Business
This post on income statements is part of our Music Biz MBA blog series. An income statement, also commonly referred to as a profit & loss or P&L statement, reports how much money a band or artist makes (or loses) during a specific period of time. The period of time for income statement reporting can be a month, a quarter or even for the duration of a tour. Cash vs. Accrual Accounting The first step of creating an … Read entire article »
Filed under: Biz Blog, Featured, MusicBiz MBA
A Music Biz MBA
Last month I completed my MBA and graduated from the University of North Carolina at Chapel Hill Kenan-Flagler Business School. Now that I have a bit more time on my hands I’ve been thinking of starting a new blog series here on KnowTheMusicBiz.com taking a look at many of the subjects covered in business school from the indie music biz perspective. Below are a few of the topics I’m thinking about covering in our new #musicbizMBA … Read entire article »
Filed under: Biz Blog, Featured, MusicBiz MBA
