This article covered the steps by steps process on how to register a Record Label in Nigeria from the right source. This is the surest ways to invest money on the music industry and gain a lot of profits.
A Record Label Exposes an artists to the wider world while building them a fan base. They bring to the music Lovers the music by producing and rising a talented music artists. The Nigerian music industry is booming every years with lots of talented artists with a great opportunity to make more money as a Record Label.
Running a Music Record Label in Nigeria is not easy,but it takes Business research and group of management who are ready to dedicate themselves to work together for the success of the business.
Record Label In Nigeria will be competitive in a few years from now because a lots of people have been enlightened on how profitable is the business as well as huge numbers of people here in Nigeria who loves music.
Is Nigerian Music Demandable?
Yes, Nigerian as a whole are Lovers of music. Sometimes Music Lovers don’t know what the want which you have to showcase its to them through advertisement.
Role Play By A Record Label
- A Record Label bring in an artistes that will entertain the audience.
- They promote artists to the wider world.
- They sponsor the production of the songs.
How Record Labels Makes Money
The Record Labels Makes money through the artists’ Songs by selling it for profits through online streaming site, licensing, performance Royalties and Tickets sales at Live Shows.
How To Start A Record Label In Nigeria
This steps is the moment in which you learn about the business in deep details by setting goals in a written format on how the Record Label will be running, whether as a sole proprietorship or partnership business and also who will specializing on tasks like production, marketing,etc. The amount of money to be paid should be written down. Getting your Brand Name Registered with Corporate affairs Commission of Nigeria(CAC) which may cost minimum of 100,000 is also important for a successful start.
Funding is what makes a business boom. To get started,you have to make sure that you have all the funds that will cover the start up and promotion aspect.
Music Production Tools
The equipment is another essential tools needed to run a successful Record Label.
You must be able to study your competitors and get advise from an experience person on the field to know in deep details on how to runs it the right way. From there you map down the steps through a business plan for a successful move.
Studio should be included to save less expenses. Setup your own music studio for a better move.
Source For Artiste
Your Records label can never be complete without having a good music artistes that can serve music Lovers with what the need with a good lyrics. Signing of Artistes depends on the genres of music you will be focusing on.
Team Player In Record Labels
At the first start, you are going to be the Chief Executive Officer (CEO) and The Artiste Manager of your Label. The main work of a Manager is to build a close relationships between the artistes and Brand which he also makes sure that the Artiste work base on the rules and regulations of the label.
The below are lists of Some Specialists to start with and theirs work in a Record Label;
- A Publicity is needed which theirs work is to build the exposure of the brand and also that of the artistes to reach huge numbers of people through social media marketing (by managing your social media profiles) and famous blogs.
- Sales Team are responsible for the marketing of the brand and Songs.
- Music Producer is also included for the production of the songs.
How much does its cost to start a music Record Labels in Nigeria?
To start a successful Record Label business will cost you a minimum of ₦700,000 to ₦11,000,000.
How To Start A Record Label With No Money
You can get a Record Label With No Money as far as you have access to Data.
I am talking about a Visual Record Label where you can create an account on music streaming platforms online with your brand Name and uploading your songs, EPs, albums, etc.
Here are the procedures;
- Create an account with your brand Name on streaming platforms like YouTube, Boomplay, Audiomack,itune, etc.
- Find a talented artistes and offer to promote his or her songs to make him popular.
- Upload the Songs to your streaming platforms.
- Start earning once you reach the requirements.( Once reach the threshold of the streaming platforms’ requirements before getting paid).
Starting A Record Label is like Starting other business which profits maybe not come within a month. You have to be patient and be consistent in the production of songs.
Make sure you undergo an agreement between you, your artistes and your workers for a better move.
Marketing is the only magic that can make you a million Naira once you do it the right way.
By following the above procedures,I strongly wishes you a successful business ahead.