David Andersen is asking Andy Weinstein

David Andersen is asking Andy Weinstein

Topic: Music 

David Andersen:

Is it better to invest your money in the music industry than making music yourself?

What is the succes rate in the music industry?  

Andy Weinstein:

The truth is, only 0,000002% of musicians become "succesful". This is the main reason why musicians who possess an insane amount of skill and talent don't become "successful".

It totally depends on what your focus is. Are you a musician? One that likes to perform and tour and one that really can deal with fame and the cascade of things that comes with stardom? Are you a good studio musician?

Are you a producer or writer etc.? Do you want to keep the songs in your own hands (you own a lable or you are a publisher yourself) or do you give these songs to publishers?

Are you a networker, how much time you really want to spent in a recording studio or in meetings?

Do you want to develop artists? Which isn't always a rewarding job to do.

The music industry is changing quite fast. It is not always easy to keep up. 

Even if it comes to investing in the music industry, you have to think a while what your focus would be here. You could own recording studios that you rent out. You could by artist's song catalogues. You could invest in technologies around the music business like shazam etc. 

So yeah, it is a tough one. 

David Andersen:

What is your own aproach?  How would you describe yourself?

Andy Weinstein:

I love music when it is free. Someone playing on the guitar or ukulele, singing songs for some people or for themselves. When it's without business or preassure. I like to compose, write, i like to sing and play instruments. I like to produce songs in the studio. But I don' t like to be depending on it.

I also like to keep things simple. To buy some shares of companies with a good working business model

is way better than owning a lot of stuff. Time is of the essence for me personally. So I try not to

be involved in too much stuff that eats up my time.

Less is more. I figured out that I want to control when and how I do music. The music business is a shark tank. Hence it's less fun than most people might expect it to be. In the music business you'd better be a lawyer than a musician to make a living.

And Fame is a double edged sword. I apreciate it to be left alone. Privacy is essential for me. 

I love surfing and being at the ocean. My goal is to go surfing on a regular basis. You never know when your time is up. 

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