Hey everyone my name is Trina Belamide,
I’m a singer, songwriter, record producer and songwriting coach and if I’m meeting
you just for the first time today do check out my website to get to know me a
little better. Today I have something to share with you, my fellow artists,
something that I think is important and could be life-changing if we totally get
this point and apply it to our lives and I am talking about the 80/20 rule. How
this came about was, I was talking to a friend of mine about the music business
and we were just sharing our frustrations and you know, bitchin’
about the biz and talking about artists who are always frustrated, you have signed
artists who feel like the label is not paying them as much attention, you have
songwriters who have publishers who don’t seem to be doing their jobs, and
you have independent artists who are struggling to rise above the noise and
trying to create some buzz, so I was telling him that I think that record
labels and publishers are set up in a certain way and this is what they do
because of this and that and he goes well yeah you know because of the 80/20
rule, the Pareto Principle. I was like, the Pareto what? I just I had not heard
about this thing and so I looked it up Basically what the 80/20 rule says is 80%
of the effects are usually brought about by 20% of the causes.
So there’s 80, 20. It’s also apparently called the rule of the vital few. Hmm.
The vital few. And so it got me thinking about the music business and how it’s set
up. If I were a record label if I have like 50 artists in my roster, only 20% of
those artists would be giving me the 80% revenue that I am happy with and that is
something to think about because this would actually explain why record labels
tend to focus on their top artists and this would explain why a lot of artists
who are signed to labels tend to feel frustrated sometimes, like they’re not
being given as much attention as they thought they’d get. Same thing with
publishers and songwriters. If you are a songwriter and I was a publisher and you
assigned your songs to me. Let’s say you have a whole catalogue of songs and your
expectation is for me to market all these songs, you know make them famous,
make them, you know, have artists record them or pitch them everywhere. It
would be in my best business interest to have a lot of songs in my catalog
because the more songs I have in my account or in my roster, the more goods I
have to sell. Now if you assign your songs to me and expect me to do the work of
pitching your songs, which is technically what a publisher is really supposed to
do, you might be setting yourself up for
some disappointment because 20% of my entire roster would actually be
responsible for giving me my 80% revenue and the majority of it, the 80% would be
just ehh.. you know, these songs on fringes,
songs that I could push for, but why would I waste my time on this 80% when I
have 20% that’s giving me more money? This 80/20 rule is like a big reality
check for me, for us artists who tend to you know, to be really disappointed with
how the music business is set up. This is why sometimes it does really make sense
to go independent. Unless of course you are like the 20% that the label is happy
with or that the publishers are happy with, then good for you. But for most of
us it’s a huge percentage, the odds of us being in that 20% is 20%. it’s a small
possibility. So for most of us we’re really in the 80% that probably
doesn’t get that much attention from our publishers and record labels. We have our
works assigned to them or we’re signed to the label and we end up still doing
the work and not seeing the money and worse sometimes they take a cut from our
own income but that is the way it is because record labels and publishers,
just like us, they need to make money and they will do it in every way that is
supported by the law. The 80/20 rule will help us manage our expectations of the
record labels and the publishers but here’s the good news:
the 80/20 rule, we can also apply that to our lives and make ourselves more
productive and push our careers forward. The way to do it is look, ask yourself:
what 20% of your catalog or your works that are out there now are giving you
the 80% income or happiness or relevance as an artist? Think about it there is
that 20% possibly even less that is giving you most of what you already want.
So this 80/20 rule is something that we can use
to focus our efforts into making ourselves more productive. It’s sort of
like working smarter rather than working harder. We do have that 80% other songs
and new songs that we need to push but there will be that 20% that might be
staring us in the face and we’re like already successful with
them and all we need to do is to build on those successful works or that
successful revenue source. Maybe it’s not recording maybe as an artist you
have better success with your live gigs so maybe you don’t need to be a
recording artist that needs to be signed because if you’re already doing well as
a live artist and you’re getting your fans from that 20% you don’t need a
recording label life, you don’t need to put out your music online. So it’s just
something that I think we need to think about. This 80/20 rule is something that
will help us to focus and think out-of-the-box, maybe give us some
creative solutions to our own problems and whatever we want to happen to our
music. There’s a lot of information about the 80/20 rule and how it helps people
become more productive. We can find ways to put our music out there to make
ourselves relevant and ultimately to earn from our own works. Now I hope that
this video is gonna be helpful to you I hope it inspires you and fires you up
and even if maybe it’s making you realize some things that are kind of
disappointing about you know big labels and big publishers hopefully knowing
this 80/20 rule helps you understand where they’re coming from, helps you
understand what they’re thinking and maybe you’ll get to even negotiate with
them with a win-win mindset like if you know that that 20% is what matters to
them maybe you can find a way to be that 20% so that they can pay more
attention to you and you can come up with some win-win situation where
everybody’s happy. So whether you’re dealing with a record label or a
publisher or doing things independently the 80/20 rule is something worth
thinking about. If you liked this video give it a thumbs up and leave me some
comments below, let me know what your 20% is and how the 80/20 rule is something
that you can apply in your life, let me know what you think, ask me some
questions, and please do consider also subscribing to my channel. I will be
making more videos in the future about the music biz and
creative tips as well, and also do check out my past videos. I will see you all
very soon. Bye!