Labels Spend 1.4 Billion To “Break” Talent

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Who knew this much is still spend in developing bands? A recent memo from RIAA includes a link to to this story:

Global music association the IFPI has released a new “Investing in Music” report examining the fundamental role music companies continue to play in developing and marketing tomorrow’s bands.

The study found that music labels worldwide invest more than $4.5 billion annually in talent and typically spend $1.4 million to “break” a new artist in major markets.

The report also cites two new surveys finding that more than 70 percent of unsigned artists want a record deal, with marketing leading the identified benefits of record company support.

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Pat Ferrise grew up loving ”the punk rock” and “new wave.” His years at one of the nation’s top college radio stations ultimately led him to a 15-year run as music director of alternative music icon WHFS Washington/Baltimore. Rolling Stone magazine named him of the most influential programmers of the 90s. He’s recorded two albums under the moniker Trampoline for the now defunct SpinArt label. He lives in Baltimore and takes no credit for writing this bio.