Music Industry Trends

Over the past five years, the industry has been effected by, and been forced to adapt to changes in todays society. The industry has gone through many changes from early television, broadcast radio, compact discs, and the most recent being mp3 (MPEG-1 or MPEG-2 Audio Layer 3) players. One of the biggest trend changes in society that has impacted the industry has been the use of the Internet by consumers. The Internet has had an impacting change on the way society communicates through a wide variety of social media networks. Social media has affected the music industry, its artists, and fans all over the world.

There are a social media networks such as YouTube, Facebook, and MySpace, which took society by storm when they first were created. It was not known nor expected that these sites would affect the industry like it did. These sites are now the breeding grounds for artists to promote new material and interact with their fans across the world. This has opened doors for anyone who has dreams of being in the industry because now, they can own their own mini studios and record music themselves. In 2009, more than 50 percent of the Grammy awards went to independent artists (Hopkins, 2009).

Being a recent college graduate receiving my Masters Degree in Entertainment Business, I will be well prepared to take on the industry with confidence, poise, and ambition. South Carolina State University and Full Sail University have both given me the education background and experience that i will need to be successful. I will always remember the lessons learned and the experiences that I went through. This year, I will be launching my company Big BAX Productions, LLC and will be looking to establish myself in the entertainment industry.

Hopkins, D. (2009). Why artists need social media. Still Indie,

Retrieved January 28, 2012 from http://www.stillindie.com/2009/06/artists need-social-media.html

Are you in need of Funding for your Business???

For this week’s post, I have researched a few websites that are available for people to obtain financial funding. As an entrepreneur looking to launch my business in the next couple of months, I will be searching for investors to assist in the funding for the start up of Big Bax Productions, LLC.

  The first site I visited was http://www.microenterpriseworks.org/ and I found some very useful information. This site is run by AEO (Association for Enterprise Opportunity).  AEO is an organization that supports entrepreneurs in starting and maintaining their business. One thing I liked about this site is that it gives its members an opportunity for secure a mentor that will assist them in starting their business the right way. Personally, I think that is a great feature to ensure that people know exactly what they are getting into and become aware of the steps they need to take to progress in their industry.  To become a member is very easy,  all you need to do is specify your type of organization and complete your standard information where it asks you. Great website in my opinion for entrepreneurs.

The second site I visited was http://www.cdvca.org/. The CDVCA (Community Development Venture Capital Alliance) is network for people in the field of community venture capital investing (CDVC).  They specialize in funding companies that are in underinvested markets and companies in search of market-rate financial returns.  Each CDVC fund has its own unique criteria and process one must undergo to receive funding. They do allow you to submit business plans online. This site is a good site for low-income entrepreneurs to receive financial assistance to make their business idea come to life.  One thing I noticed about CDVC funding that I did not know before was that they really look for companies that will benefit the community as far creating jobs.

Be sure to check out these sites if you are looking for funding for your business!!!