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Taking Care of Business in the Music Industry

Taking Care of Business in the Music Industry
While consumer products featuring rock stars have been around for decades, there was a time when they were once thought of as "selling out." With more musicians across all genres getting involved in licensing, products are becoming more meaningful and a lucrative source of income.

Licensing has always been an essential part of a musical act's legacy and is an aspiration even as early as its garage band beginnings, whether the artist recognizes it or not. Case in point: the concert t-shirt.

Chances are the same band that now plays stadiums on sold-out world tours got its start playing local clubs. To supplement meager touring profits, the band most likely went from the small stage to a small merch table that sold homemade t-shirts. Proceeds most likely went to filling up the gas tank or lodging, as the band went gig-to-gig. Whether the program has homespun roots or has gone global, musicians are looking towards licensing as another way to connect with fans. A strong licensing campaign can keep a band's profile in the public eye, especially between album releases.

Album sales were once the barometer of a rock band's success. The same could be said about getting a video on MTV. But the internet has turned the industry on its ear. High streaming numbers and a large social media following count just as much towards a band's popularity as high album sales. Band licensing is not just another form of marketing or promotion. For certain bands and musicians, licensing can be another source of income where its ROI can last years, if not decades, while channeling creativity...

Read the full story in the April issue of License Global

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