With all the hysteria about global currencies volatility and the trade war with China and the USA, the global markets in the world are going through a bit of a frenzy due to news of another global recession. This is particular to the financial markets with accusations flying around about currencies being either overvalued or undervalued, depending on what each individual country’s (or region in terms of the European Union) agenda is in the global trade arena. With many businesses now plying their trade in the modern global game as either importers or exporters, the situation could adversely affect businesses depending on which on end of the foreign exchange rates is conducive to the particular success of the business. With all that is going on in the global economy, a good question would be how does this affect the music industry?
In the short term, when there’s a global recession or depression, it can usually be a very good thing for music entertainers! Usually when uncertainty looms the tendency “to distract and divert attention” is deployed by governments or businesses, whenever there’s a looming down turn in business or productivity. For example – when companies know that business activity closer to the end of the year will wind down, they then decide that this is the ideal time to have their office parties which involve bringing, food, liquor and entertainment (music). Much as office parties are a genuine gesture of employees thanking their employees, they can also be seen as an anomaly due to the employer “surrendering” to the forces of the market environment. When the festive season hits with all it’s “festivities”, it’s usually a good time of the year for artists as that is when they are at their busiest in terms of bookings. However, musicians can be busy at other times apart from the festive season. For example, when politicians around the world want to campaign elections – a lot of the time they would turn to musicians for endorsements.
The PurvGang have released All My Homies which is produced by Mac’FLex! #PurvyFriday
PurvGang have released Throw Throat for this week’s #PurvyFriday! This track is produced by Jewz Gas O’Lean!
In the current paradigm music artists find themselves in the position of being wholly independent, which leads to many of them thinking they would be entitled to keep all of their earnings! Unfortunately, it doesn’t quite work like that, as “independent” doesn’t necessarily mean that an artist did everything by themselves – it’s actually quite the opposite! The more successful artists are the ones who actually know who to keep in their circle that make valuable contributions towards their careers. Through various forms of revenue such as royalties, commercial deals, album sales etc, an artist would somewhere down the line have to pay people who are imperative to their success. This ties in with subject we have covered in our value-chain analysis article. The music economics series this time around discusses how special people are compensated for their efforts.
The splitting of the revenue comes in the form of management fees, agent commission, distributors duty & fees etc. All these forms of revenue split vary and depend on how the artist’s bargaining power is determined. The final fee or cut (in percentage form) from the point of view of the product or service (music album or stage performance) an artist has to sell, goes a number of ways to cover expenses and then to determine how the profits are split. The moment the conversation comes to profit splitting, there are a number of dated principles that are still presently applied that need to be understood first before deciding to part with 10%, 20% or 30% and so on…
PurvGang have Designer Thot for this week’s #PurvyFriday!
The track is produced by FurnaceBenz.
PurvGang have released Show Me as this week’s #PurvyFriday Single!
The single is produced by @KingloBeats!
TnT Corporation affiliate artists Tre and FDL are going to be performing at the second annual Sosha Street Market! The event is taking place on the 8th December 2018, in Soshanguve (Pretoria) at the Soshanguve Block KK Party! gates open at 10h00 (AM) to 17h00. Entrance to the event is free!
For more details phone 072 035 7631 or email Vhuuurphaa@gmail.com . Check out the new Tre website as well, while you are at it.
If you happen to be in Cape Town on Sunday the 2nd of December, Make sure you head up to Casa Labia for Acoustic Nights with Dimmitrios Giannakis on guitar in concert alongside the lovely Tatiana Thaele on flute. Not only will these two prolific instrumentalists be on their respective musical items, the both of them will also be singing!
Tickets are at R150 per person, to book them call (021) 788 6068 and email firstname.lastname@example.org . The show starts at 8PM and will be at the Casa Labia at 192 Main Road, Muizenburg.
Don’t forget to stream or download the new World’s Apart album which is Dimmitrios and Tatiana’s collaborative project, which was released at the end of October!
PurvGang want to Blame Parents for giving us another funky #PurvyFriday! This track is produced by Mac’Flex!
Omphile Madiba who is part of the Gospel group Praise Infinity, has released his latest single called Sedi Laka which is now out on all major digital outlets.
Taken from the single’s press release: Omphile is from the North West Province, Mafikeng, Omphile began his music journey while studying for his BA degree in the University of Johannesburg, Auckland park Campus in the year 2009. Having auditioned and made part of the University Choir (UJ Choir) under the directorship and mentorship of Renette Bouwer, he musically developed significantly. Along with his peers within the University Choir, Omphile had an opportunity to travel around the world singing and displaying his God-ordained talent; the highlights being performing the ‘Stabat Matter’ classical composition by and under the directorship of the legendary Karl Jenkins at the Carnegie Hall, in New York City, year 2011.
Apart from serving with his musical gift in church at the time, Omphile actively participated in various musical platforms such the the the University of Johannesburg Music Society (Mu.So). Upon his graduations in the year 2012, Omphile formed part of a Gospel trio/group called of ‘Praise Infinity’. Where on the same year the group was discovered and signed by Harvey Roberts at Bula Music, which was later acquired by Galo Music. After a long break from the music life, Omphile started recording his solo music, pursuing his solo career. Omphile now stands to launch his debut Gospel Single titled Sedi Laka inspired by his testimony, healing and recovery along his life journey.