Is EDM fastlane?

[Oph]

Hello everyone.

In the past, I discarded my passion as a fastlane road, since I figured that it didn't obey the CENTS commandments. I'm curious to know your opinion on this.

What are your thoughts on the music industry?
Would you consider an electronic music producer a fastlaner?
How would you describe the CENTS for this particular road?

Disclaimer: don't worry, I'm just wondering. I'm making progress on my journey

Oph

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jon.a]

Anything that can take you out of the slow lane can be fast lane.
Smack yourself for asking that question.

 

[GPM]

Elephant Donkey Magic?

Not sure how that relates to a business or what model you would use to make it go faster...

 

[Almantas]

Whether your business is a fastlane or not depends on a business system. That's my opinion at least.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Michael Burgess]

Some people (like me!) love electronic dance music, and similar forms of music like progressive house, etc.

I've paid to go to concerts and dances before.
I've paid for individual pieces of music online before.
I've paid for music streaming services before.

You just have to find or make a way to tap into those paying audiences!

 

[miked_d]

EDM = Electronic Dance Music

I don't think a producer can be fastlane, your time will always be needed.

Do something like http://www.di.fm/. Stream music and charge to remove commercials.

Read this story:

SubmitHub on Indie Hackers

He turned a problem on his website into a great business.

 

[Mac]

Well... EDM is on a downwards trend I'd say. It will rebound again, just like how it went away after the 90s and came back in 2009.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Daniel A]

Well, there's money to made that's for sure. I've got something to say, but I'm not an expert in the industry ... at all, I just enjoy the music and events. And sometimes I feel like I could be a great DJ if I just learned how to DJ haha.

A music producer has the potential to make a lot of money, and some of course do. Funny thing is the best example of the biggest businessman in the EDM scene to my knowledge is Pasquale Rotella. However according to "The Richest" he has three times less net worth than David Guetta (I believe the highest paid DJ). And David Guetta got a divorce, and I believe at least half of his assets went to his ex-wife. Even if that's not factored into the currently displayed net worth, he still has more (according to that website -- questionable). I thought it would be the opposite. Maybe he didn't have his personal finances covered as well? Lost a lot more since he has to risk a lot? IDK...

Still, the EDM industry is big. And a lot of other industries profit from it (hotels, transportation, venues, plastic bead companies, glow stick companies, electric companies ). *hint hint*

Getting into it as a producer and succeeding? With that, I believe the focus should be on producing banging choons and marketing them!

P.S. Check these links out...

Insomniac Has Generated More Than $3 Billion for the US Economy in the Past 5 Years

Report Reveals EDC Vegas’ $1.3B+ Impact on Local Economy

P.P.S. Post some banging choons in this thread. Music that Motivates

 

[Daniel A]

Pasquale Rotella

He has an upcoming Reddit AMA today in about two hours. Ask him some questions!

I am Pasquale Rotella – Experience Creator, Night Owl, and Founder & CEO of Insomniac. Ask Me Anything. • r/electricdaisycarnival

 

[TonyStark]

Only if you pop molly

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Bach89]

I manage a couple of artists in the underground electronic music scene, I would highly, HIGHLY suggest against it. Nobody is an overnight success and if you want to make it big in the EDM scene (especially the cheesy mainstream garbage) you need to have a great network, be likable, attractive, marketable, have solid productions (or deep pockets and a network with tight lips) AND be ahead of the curve with the direction the scene is going.

Mainstream EDM is now taking a nose dive as big room house loses it's momentum and things are moving back towards the underground. The next big things will be (real) progressive house, house, techno and tech house - but even then, you're up against hundreds of thousands of aspiring producers that are incredibly talented and already have cemented themselves in the industry.

Is it fast lane? It can be, but your chance of becoming an 8 figure entrepreneur are 100-1000x higher than you even making 6 figures as a DJ.