Austin’s gloomy Music Census tells a familiar story of a music scene that has outlived it’s economic viability. Venues operate on razor thin margins and the musicians, on average, live below the poverty level.
None of this is new or unique to Austin. Nashville, Los Angeles, Chicago - all have the same challenge.
What is unique about Austin is its ability to innovate and drive value.
Perhaps this is why Austin is the fastest growing cities in America according to Forbes Magazine. Austin has also positioned itself as “The Live Music Capital of the World.” With such an audacious claim, the picture the Census paints is problematic for the city. At stake is over $2 billion dollars in economic impact the city's music industry brings to Austin.
I think this number could be much higher – while at the same time improving musician wages, increasing profitability for venues and directly benefit Austin businesses.
My FairPay business model is an example of a sustainable model where all stakeholders receive value.
Musicians make more money
Venues make more money
Businesses outside the music industry make more money
Win. Win. Win.
As a 37 year veteran performer and 28 year marketing strategist for the Fortune 100 I believe I have a unique perspective on both business and music. More importantly my team is proving that these ideas work.
Here’s my Three Point Plan to improve musician wages and working conditions.
Businesses: Leverage Austin’s Music Scene
Austin is a powerhouse economic force in one of the fastest growing cities in America. There is tremendous opportunity for local companies outside of the music industry to leverage Austin’s unique brand and talent to connect with prospective customers, generate awareness and drive opportunity using the promotional appeal of live music in Austin.
Musicians: Improve Value to the Market
My approach changes the equation for musicians, bandleaders and music entrepreneurs by giving incentive to musicians to improve their value by developing promotion and related business skills.
Venues: Update business model to attract more affluent audience
The tavern business model dates to antiquity. Venues need to innovate and adapt to the changing market. For venues to flourish, they need to attract more affluent crowds and fight for policy changes that reduce the regulatory burden on these businesses.
In future articles I'll be elaborating on these ideas and showing you exactly how it works so you can apply the principles to your project, business, band, etc.
Grab a ticket to the next Revue - October 3, 2016 - http://bluesbash.eventbrite.com