Multiple Revenue Streams - How Record Labels Make Money in 2023
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Let’s talk about multiple revenue streams and why they’re so essential for the financial stability of independent record labels. Now, I don’t mean to be patronizing, but let’s think of streams flowing into a bigger body of water… A lake or an ocean that gets its mass from various smaller bodies of water (rivers, streams, etc) all flowing to a central location.
When we as a record label, or any business, look at our total revenue for an entire month or year, it generally comes from multiple sources.
Multiple revenue streams are essential for any business because of how hard it is to achieve your revenue goals from simply one singular source of income. Instead, multiple these various income sources make it easier for us to reach our financial goals by diversifying our revenue generating opportunities.
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In this video...
Introduction - 0:20
Free Guide to multiple revenue streams - 1:29
What are multiple revenue streams? - 1:50
It puts less pressure on any singular initiative - 4:46
It creates revenue insurance - 6:44
It diversifies your opportunities - 9:54
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