Build
An Artist, Build A Brand
As
the music industry continues to shift and develop new methods of creating
revenue, many have looked to alternatives to the traditional label deal. The
introduction of Artist Nation, Live Nation’s
artist promotion division, has opened the door to a number of interesting new
possibilities. The company has courted some
of the industry’s biggest artists, including Madonna and Jay-Z and has entered
into unique partnerships that encompass the management and promotion of their recordings, live performances,
merchandise, and more. In essence,
Artist Nation has perfected the “360 deal” by bringing to the table all the
assets at its disposal, including radio, sponsorship and marketing.
Of course,
emerging artists have not been invited to this lucrative table. So other
companies are utilizing similar models to develop and promote new talent. This week we spoke with Nan Cassidy of Tunesmith
Entertainment. Tunesmith began as a website showcasing the talented array of promising
songwriters in Nashville. In time the company has grown into a national
organization that discovers, develops and nurtures talented songwriters and
artists from all over the country.
Tunesmith
has recently instituted its "Build an Artist, Build a Brand" division
to foster corporate partnerships for talented new artists. “Our Build an Artist, Build a Brand concept
using corporate partnerships as music distribution bases and performance
opportunities is the future of the business,” says Cassidy. “
Corporate America can be a good friend to the
music industry and play a larger, more lucrative role in the future of music.”
Cassidy
and her team research artists and potential corporate partners, looking for the
perfect fit. “It’s essential to provide companies
with the right music/artist combination,” she continues. This is particularly important when seeking
sponsorships for new artists who don’t bring millions of fans with them.
“These
deals work if both sides benefit mutually,” says Cassidy. “We have to consider
not only what they can do for us, but what we can do for them. For instance, in a recent negotiation with
Boot Barn, they pointed out the promotional value a deal with them would bring
to our artist, and we were able to bring to their attention the revenue streams
and advertising value of utilizing our artist.”
“Our
artists are available for a wide range of promotional activities, including in-store appearances
and/or performances, radio remotes, and the use of the artist’s likeness on in-store
product promotions, e-mail blasts, and social networking campaigns, activities
a major artist might not be available for.”
Cassidy calls herself a “mission-oriented negotiator,” concentrating
on the interests motivating each side. “When we began, we would submit big
budget proposals. But we learned that
these companies did not want to put a lot of money behind a new artist. We learned that emotions are a very big part
of these negotiations. When you believe in a project, you want others to see
what you see, to persuade them that your idea has merit. And conversely, the
sponsors want you to know where they’re coming from.”
She works hard to produce a final package that is fair to both sides,
including points generally anticipated, but adding accommodations unique to the
potential sponsor.
“We spend a lot of time building a relationship with the company. It is important to know the person you’re
dealing with, and a key component of any negotiation is to build trust on both
sides.”
Cassidy notes that for her, a negotiation is successful when it creates
a lasting two-fold relationship that “provides support for new artists and
achieves strategic objectives for participating companies.”
