Music Business Plan in Nigeria

Music Business Plan in Nigeria

This sample Music Business Plan In Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc.
The Music Business is a lucrative business that needs a lot of strategic planning to start and a business coach like Dayo Adetiloye to help you start the Implementation.

Description of Music Business Plan in Nigeria

Business: Music Business

Industry: Music Industry

Executive Summary

PATILAD Independent music artiste business is located in Abeokuta, Ogun state. Our music style will be hinged on hip-hop, blues and soul music genres. Being an independent musician is quite daunting because only few are able to succeed through it. To succeed in a Nigerian music scene is hard and the chances are almost next to nothing as less than 5 upcoming Artistes are able to draw attention over the existing ones yearly. It is also difficult to get signed to top professional record labels. Hence we would be running things differently in our business to raise income while trying to be successful in the music industry.

At PATILAD, we are going to operate mostly through the digital web. This means most of our activities will be targeted online. Our music albums and singles will uploaded on a professional website created specially for the company. Here we try to generating as much traffic as much as possible by making sure at least 150-500 persons visit our site and view our videos per day. This will be a substantial part of our income generation.

There will also be options to download or buy our albums as the case may be. Another feature of our website would be the “House Concert Offer” where we offer to perform a private concert for people in their homes or parties including corporate parties as the case may be for a varied charged sum.

PATILAD would also run a YouTube channel, in which it is no news that it serves as a source of income to its users who upload videos and have a lot of people subscribe to their content. This will also serve as another source of income.

Finally, all these do not matter if there is no marketing strategy to get people interested in our quality music. We have put together several strategies to boost promotion of our services like social media ads, google ads, search engine optimization and marketing etc. We have invested quite well in adverts that will encourage people to visit our site and YouTube channels. We will employ gigging, tours, mailing list, great music, publicists, website, mobile app etc to build our fan base and create awareness for our business. And then as an added huge bonus, we would be attracting record labels through our reputation as an internet sensation and by sending demos to record labels.

Problem and Solution Statement

Problem: The Nigerian music industry presents significant challenges for independent artists, including fierce competition, limited attention for upcoming talents, and difficulty securing deals with professional record labels. Breaking into the scene and gaining recognition is a daunting task, with less than 5% of upcoming artists drawing attention each year. Furthermore, the traditional avenues for signing with top record labels are highly competitive and often elusive.

Solution:

Digital-Centric Approach:
- Problem Addressed: The traditional music industry landscape may pose obstacles for independent artists. By adopting a digital-centric approach, PATILAD aims to reach a broader audience through online platforms, mitigating the limitations of traditional channels.
- How it Works: Leveraging a professional website and a YouTube channel, PATILAD will showcase its music globally, ensuring accessibility and visibility to a diverse audience.
Diversified Revenue Streams:
- Problem Addressed: Relying solely on music sales may not provide sustainable income for independent artists.
- How it Works: PATILAD plans to diversify revenue streams through album sales on the website, offering private “House Concerts” for events, and monetizing a YouTube channel through ads and subscriptions. This multi-pronged approach reduces dependency on a single income source.
Strategic Marketing and Promotion:
- Problem Addressed: Standing out in a crowded industry requires effective marketing and promotion.
- How it Works: PATILAD’s comprehensive marketing strategy encompasses social media ads, Google ads, SEO, live performances, mailing lists, and engagement with publicists. This ensures a consistent and widespread promotion of the artist’s brand, increasing visibility and attracting a dedicated fan base.
Direct Fan Interaction:
- Problem Addressed: Building a loyal fan base can be challenging, especially without direct interaction.
- How it Works: House Concert Offers, live performances, and social media engagement will enable PATILAD to directly connect with fans, fostering a sense of community and loyalty. This direct interaction enhances the artist-fan relationship and creates a supportive fan base.
Record Label Attraction Strategy:
- Problem Addressed: Getting noticed by record labels is a formidable challenge for independent artists.
- How it Works: By strategically positioning itself as an internet sensation and sending carefully crafted demos, PATILAD aims to attract the attention of record labels. This proactive approach increases the chances of securing partnerships and collaborations in the future.

In summary, PATILAD Independent Music Artiste Business addresses the challenges faced by independent artists in the Nigerian music industry by implementing a digital-centric strategy, diversifying revenue streams, employing an extensive marketing approach, fostering direct fan interaction, and strategically positioning itself for record label recognition.

Our products and services

PATILAD will provide the following products and services;

Sensation Musical Beats:
- Description: PATILAD will produce captivating musical beats that blend both electronic and traditional elements, creating a unique and sensational auditory experience.
- Value Proposition: Our beats will stand out in the industry, catering to diverse musical tastes and ensuring a memorable listening experience for our audience.
Practical and Creative Lyrical Content:
- Description: We offer lyrical content that is not only creative but also practical, connecting with listeners on a personal and emotional level.
- Value Proposition: Our focus on meaningful and relatable lyrics enhances the overall quality of our music, resonating with a broad audience.
Quality Music Records:
- Description: PATILAD is committed to producing high-quality music records, ensuring professional sound production and mastering.
- Value Proposition: Our dedication to excellence in music production guarantees a polished and professional outcome, elevating our brand in the competitive music industry.
Quality and Standard Music CDs:
- Description: We offer physical copies of our music in the form of high-quality and standard music CDs for those who prefer a tangible product.
- Value Proposition: PATILAD’s music CDs are crafted with precision, featuring premium sound quality and attractive packaging for a satisfying customer experience.
Online Albums and Singles:
- Description: Our music will be readily available online, with the option to purchase or download individual singles or entire albums through our dedicated professional website.
- Value Proposition: Easy accessibility and convenience for our audience, providing a seamless online experience for discovering and enjoying our music.
Entertainment News on Music Related Events:
- Description: PATILAD will curate and share entertainment news, keeping our audience informed about the latest happenings in the music industry.
- Value Proposition: Enhancing engagement and connection with our audience by providing relevant and up-to-date information on music-related events and trends.
Private Concerts:
- Description: PATILAD offers the unique experience of private concerts, where we perform exclusively for individuals, parties, and corporate events at a varied charge.
- Value Proposition: Creating memorable and intimate experiences for our fans, while also diversifying our revenue streams through personalized performances.
Local Gigs:
- Description: We actively participate in local gigs and live performances, contributing to the vibrant local music scene.
- Value Proposition: Building a direct connection with our local community and expanding our fan base through engaging and energizing live performances.
Sale and Rental of Standard Musical Instruments:
- Description: PATILAD provides a range of standard musical instruments for sale and rental, catering to aspiring musicians and event organizers.
- Value Proposition: Supporting the local music ecosystem by offering access to quality instruments, facilitating creativity, and contributing to the growth of musical talent.

Benefits of our products and services

Our websites and app make it easy for individuals all over the country, seeking for music entertainment for their wedding parties, burial ceremonies, naming ceremonies, birthday parties etc to have easy access to us as entertainment plug at one go and as quick as possible.
We also provide corporate music entertainment for meetings, official parties and the likes.
We provide sensational music to entertain individuals and give them unforgettable experiences.
Our headquarters at Abeokuta, Ogun state which also serves as our main studio, is open for all musical instrument purchase, rent and other accessories like musical records and CDs.
We also provide an e-commerce section on our website and app where individuals far away from us can order musical instruments, accessories or engage our services.
Our entertainment and blog sections on our website, provide the best content aside from our music promoted or aired there.
We have a very satisfied client base.

Objectives of PATILAD Independent Music Artiste Business Plan

To become the best rated musician in Nigeria.
To get signed by a top record label in Africa.
To own a record label.
To generate a profit margin of 60% in the second year.
To build a huge fan base.
To provide the best music entertainment services in the country.
To be the go to establishment, website or app of individuals or corporate organizations seeking to have some form of music entertainment at their events.
To satisfy our fans by giving them great music.

Vision statement of Independent Music Artiste Business Plan in Nigeria

Our vision is to attract global label by giving the music industry the best they have ever seen.

Mission statement of Independent Music Artiste Plan in Nigeria

Our mission is to provide our fans and clients great music and to incur a steady stream of revenue from digital sales, record sales, live performances, private concerts and our other services.

Management Team of Independent Music Artiste Business Plan

Joseph Williams – has been an artiste manager for over 5years where he developed contacts with relevant organizations and individuals, managed his artiste’s finances, performances and business efficiently, grew the business awareness and boasts of several other accomplishments leading to his previous employer’s growth. He is a graduate of music from the University of Calabar, Calabar. He will be the Artiste manager.

Mr Dayo Adetiloye – (B. Agric., MBA, and PMP): He has over 15 years’ experience in business management, business start-up dynamics, financial management of business and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner.

We brought to the business;

Educational skill and practical experience in the Independent Music Business.
Quality and standard musical instruments and accessories.
Quality and sensational music.
Long distance outreach.
Our staff brings operational, marketing and promotional skills to the business.

Management experience gained for the Independent Music Artiste Business in Nigeria

I have always wanted to be a star. An international star. Thus I started by singing as a chorister in church to performing local shows in school, then to performing live on my social media accounts. I have also recorded a few albums and singles. I have an aggregate experience of 22 years as a singer. And I have a 4 year experience as a manager.

I am a masters degree holder from the university of Lagos where I studied Music. I have been able to master the technical requirements, financial management, staff recruitment and organization skills among other things necessary to give the firm good commendation from our clients.

My managerial skills has also helped in putting together a workforce for over 5 years, which will also help me to coordinate the team work in most aspect of the company.

I am the CEO of the company overseeing the day to day activities of the business.

Materials and Machines for Independent Music Artiste Business Plan in Nigeria

Computers, Musical instruments and accessories for sale, DAW/Audio interface combo, Studio monitors, Microphones, Headphones, Cables, Mic stand, Pop filters, Ear training software, Desk workstations, Studio Chairs, Bass Traps, Acoustic Panels, Diffusers, Reflection Filters, Monitor Isolation Panels, Studio Monitor Stands, Studio Rack Mounts, Power conditioner, Microphone Preamp, Headphone Amp etc.

COMPETITIVE ANALYSIS FOR INDEPENDENT MUSIC ARTISTE BUSINESS PLAN IN NIGERIA

People buy from us for the following reasons;

The provision of high quality and maximum flexibility in customer service delivery.
Our standard and quality products.
Our interpersonal and people skills.
We provide far and near services.
Mobile friendly and easy to operate app and website.

Our major competitors are in Nigeria include;

Wizkid
Davido
Burnaboy
Timi Dakolo
Kiss Daniel
Simi
Joeboy
Fireboy etc

For the remaining part of this business Plan, including the detailed financial analysis, call any of our business plan consultants on 08105636015 or 08076359735, 08113205312 or send me an email at dayohub@gmail.com .

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Call any of our business plan consultants on: 08105636015, 08076359735, 08113205312
or Send me an email at: dayohub@gmail.com .

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