Record labels continue to consolidate and internal departments continue to merge. However, it is important for future record industry executives to have some idea of the internal mechanisms that exist within a major label. In fact, independent labels have to incorporate many of the same responsibilities within their infrastructure in order to compete in todays marketplace.
Some of the departments may seem obvious to some of the more experienced readers. However, even you can benefit from knowing what tasks need to be tackled and accomplished in order to be a fully functional recording labelindependent or major.
It is important to remember that a record company is defined by foundational concepts:
1. Equity in the copyright of the sound recording
2. An ability to promote
3. An ability to distribute
Keeping these underlying concepts in mind, a label can then be about anything the owners want it to be about. Many people hate to concede to the idea that a record label is ultimately about making money, then hopefully about making great music. Although, the latter has been falling farther and farther behind in todays marketplace.
Suffice it to say, the labels departments must also be working toward the common goal in their own ways. Below is a general list of departments within a record label and the responsibilities of each department. Remember with smaller labels, departments are smaller and therefore, many tasks are accomplished by fewer people.
CEO
1. Crafts strategy and implements agenda of corporate parent company
2. May not be involved in day-to-day operations
3. May be responsible for the business affairs of all affiliated labels under the corporate umbrella
4. Reports to executive at corporate parent company
PRESIDENT
1. Responsible for entire record label
2. Reports to CEO
3. Less removed than CEO and may be involved in day-to-day operations and high profile signings
BUSINESS AFFAIRS
Responsible for all contract negotiations and legal affairs
FINANCE/ACCOUNTING
Responsible for all financial functions, payroll, royalty accounting and financial reporting
LABEL LIAISON
1. One person or a small group of people
2. Serves as liaison between record companys distribution company and the record company
3. Helps decide when to release an album and makes sure it doesnt conflict with any other labels the record company owns
A&R
1. Finds new artists (works with a research team to uncover important market research statistics/numbers)
2. Finding artists material
3. Liaison between artist and all other departments of the record company
4. Coordinates across departments for projects
5. Product Manager (your manager within the label)
PROMOTIONS
1. Primary function is to service radio stations with product and secure airplay
2. Manages independent promoters and contractors
3. Works closely with radio stations on contests, concerts, giveaways, etc.
4. Works closely with new media and marketing
SALES
1. Primary function is to service retail with product and oversee retail initiatives
2. Services national and independent accounts
3. Instrumental in planning release schedule, initial unit volume, and solicitation strategies
4. Works closely with marketing and promotion to track radio airplay
MARKETING
1. Creates strategic marketing plan for the company as well as, specific artists and their releases
2. Instrumental in seeking strategic alliances for the label (Consumer Products, advertising, radio/tv/film)
PUBLICITY
1. Gets the word out
2. Writes press releases
3. Helps secure personal appearances radio interviews, television exposure, featured articles
4. Works with artists independent publicist if applicable
NEW MEDIA
1. Responsible for dealing with some of the newer aspects of the music business
2. Creates Online Presence social networks, online reviews and feature, blogs, website, streaming music, etc.
3. Responsible for producing and creating music videos for the artist
MANUFACTURING AND DISTRIBUTION
1. Coordinates
2. Pressing
3. Packaging
4. Shipping
5. Warehousing and Inventory Management
6. Digital Distribution
7. Rack Jobbers, One Stops, Record Clubs
The aforementioned departments and their tasks are for general reference only. Each specific label has their own way of accomplishing tasks, assigning names to departments, and ultimately selling product. However, note the information, use it to perhaps build your labels infrastructure or to possibly look for a position in the music business, and then build upon it for further success in the music business.
Eventually a small business owner must face the fact that they can no longer handle every aspect of their business. This inevitability means that they will have to begin hiring employees and building up teams that can help them maintain and grow their business. This point in time usually arrives quickly for business owners who handle all of their business accounting themselves. Unlike some other teams however, an accounting team should be made up of only the very best and most qualified professionals. Business owners need to ensure they hire only the highest quality people for their accounting team because an accounting team can make or break a business.
With a good team of accounting professionals in place a business owner can make good and informed decisions that will help them maximize profitability, handle cash flow, and provide competitive benchmarks. Most small business owners initially want to hire an accountant or accounting team simply because they no longer want to deal with things like payroll or don’t want to keep track of the ever growing and larger numbers within the company. Once a team has been put together however business owners quickly realize how much they were missing, didn’t know about, didn’t understand, and werent doing.
Not every small business operates on the same budget so it only makes sense that different companies will need to hire different types of accounting professionals. The smallest and newest companies will most likely want to start with a bookkeeper. A bookkeeper will help keep good financial records, handle all transactions, and produce financial statements. An experienced bookkeeper should be able to keep all financial aspect of a business in order for a long time, long enough for a business to hire an accountant.
When a business reaches the point where it becomes necessary to hire employees, it’s time to hire an accountant. An accountant handles much more than simple bookkeeping and can help with things like complicated payroll issues, the changing of a business’ structure/ownership, bank loans, and complex billing issues. Unfortunately successful businesses will eventually outgrow the need for an accountant and will then need to hire a controller.
Once a small business becomes a mid or large sized business, business owners must seriously consider hiring a CFO to handle and oversee all financial aspects of a business. Fortunately many CFO’s can be hired on a per project basis and on a part time basis in addition to full time making their services more affordable and accessible to all businesses. A CFO will be needed when a company begins to consider expansion as they can provide specific strategies for making a complex business stage a success.
Whatever a small business might need in terms of financial assistance, it’s important to remember that at some point all businesses will need it. Some businesses will hire an all in one type of bookkeeper or accountant while others will assemble a team. It’s important to remember however that in order for a small business to succeed and grow their owners must eventually hire someone to handle their finances.
Everyone wants to make money but few know how to manage them and use for business purpose to grow known as business leaders, however true business leaders know how to do that with or without a degree or knowledge they are also known as conventional business men, however due to advancement of accounting finance and taxation knowledge and skills it has become almost very important, many businessmen have employed qualified accounts and finance professionals to manage their business in professional manner, and such professionals are in high demand and will remain in high demand for ever, these experts are those individuals who manage the wealth and generate income for business houses. Since accounts is the base of every business and commercial transaction hence a basic knowledge of accounting is very important, since most of the accounting staff and finance professionals work together alongwith taxation and payroll in any business organisation. To become such professionals one needs to know the accounting and finance courses offered at different level by different accounting institute, these institute offers various accounts training, such courses can be availed by students after 12th in commerce or there are some professional courses which can be completed after B Com Graduation. In India there are options like B Com Graduation M Com post graduation courses which can be opted after 12th commerce students, such degree are merely qualification for any accounting and finance related jobs, however there are many institutes like:- CA (The Institute of Chartered Accountants of India commonly known as ICAI) CS (The Institute of Company secretary of India ICSI) ICWA (The Institute of Cost and Works Accountants) IPA (The Institute of Professional Accountants)
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Management accounting is related with utilizing accounting information, and forming fundamental structure to prepare business decision that will be helpful in enhancing management and control functions in an association.
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Most local accounting services business owners think that just because the service they offer is specific to their locality, creating a big bang in advertising their services is inappropriate. Advertising and promotions is not specific to businesses. Promoting your services by just plainly being visible is promotion enough to create awareness for other local business owners as well as by passers that your accounting services exist. A business owner from the next town passing by your town and sees your vinyl banner can be a prospective client. A simple yet compelling full color vinyl banner can create that awareness. Below are tips in creating a captivating full color vinyl banner.
Tips on Creating a Highly Visible Full Color Vinyl Banner
1. Design. Your best bet for a successful marketing campaign to create the visibility you would want for your accounting services is your full color vinyl banner design. Your design is your representation as a company. It also would attract would be clients whether locally or from other places that this accounting service mean service. As banners are mostly used for announcements of events, design your vinyl banner in such a way that the design is simple yet unique for easy reading.
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With the above tips, your visibility campaign will surely be a big success.