Expect a surge in spending on entertainment during the recession.

 

 

Lavatory Records

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.

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Dr Boyce Watkins says “Don’t try to make money rapping, start a business instead”

Lavatory Records

Dr Boyce Watkins from Your Black World speaks with a young artist Jay Ortiz  about the importance of approaching the music industry with a business mindset. The focus of artists building stages instead of them looking to just jump on to a stage, was the main focus of discussion which was what Jay Ortiz managed to do.

When we started Lavatory Records, it was not just about starting a label, rather more about setting up artists as business people.

Watch this discussion on YouTube or  SoundCloud.

 

“How To Jump Start Your Music Career” – Music Advice with Scott Page

Lavatory Records

If you are new to the music business, you would like to check out this episode of Business Rockstars with Scott Page.

On this episode:

“Lucy LaForge from Lucy & La Mer preforms her American Folk Pop song and gets advice from music legend, Scott Page! Scott is the CEO of Ignited Artist and formerly was in the band Pink Floyd. Hear how you can turn your musical career into a profit!” – Taken from the Business Rockstars YouTube Channel

” Business Rockstars is an Entrepreneurial Community.  We are the LARGEST producer of live audio and video content for entrepreneurs featuring rockstar CEO’s, startups, and entrepreneurs. The Business Rockstars daily radio & streaming video show airs LIVE 2 hours daily, Monday-Friday..” – Taken from the Business Rockstars Home Page