Artists News

One of the Reasons Music Xray Works: Submission Fees

Posted by Mike McCready | July 19th, 2011 | 3 Responses

 

Since February alone, more than 3500 songs and acts have been selected for opportunities on Music Xray. From my understanding, the ratio of submissions to deals is more than 10 times better than at online submission sites. Music Xray distinguishes itself by being an A&R platform – a site dedicated to finding the most appropriate songs & acts for each opportunity and to helping the industry bring its A&R efforts into the 21st century.

Sure, the great deal ratio is due in large part to the great A&R tools Music Xray provides to industry professionals to help them quickly and easily identify the music they are seeking but it’s also partially due to Music Xray’s modest submission fees.

What?

Yes, it’s true. Submission fees, as small as they are, require musicians to filter their own music and submit only the songs they believe are the best for each opportunity. When musicians don’t over-submit, the industry professionals are less overwhelmed and the quality of what they hear on Music Xray is significantly higher than almost anywhere else. That keeps the industry professionals more engaged on Music Xray.

Less competition:

Then, there are the musicians who have not yet understood how the changes in the music industry of the past decade have changed the A&R process. Many do not believe – based purely on principle – that they should have to pay anything at all to have their music considered by the industry. They do not realize that even the ways of the past that seemed free were not free and did not come with guarantees their music would be heard and considered.

Those later adopters, who remove themselves from the equation, create a smaller pool of competition for the early adopters – and therefore more deals.

Greater competition outside of Music Xray:

If 3500 deals were done on Music Xray, it stands to reason that there were 3500 fewer deals available outside of Music Xray – meaning that it’s getting increasingly difficult to find deals elsewhere and that’s to say nothing of the increasing challenge of breaking through the noise and clutter to distinguish yourself and your music.

Remember, there are literally millions of emerging musicians and millions of new songs created and posted online every year. There is no way the industry can filter through all that music to find what they are seeking “out there in the wild”. That’s why Music Xray is changing the game and small submission fees are one of the reasons it works.

Mike McCready is an entrepreneur at the crossroads of music and technology. He pioneered the introduction of Hit Song Science into the music industry and followed up with Music Xray, the company he co-founded and serves as CEO. His companies have been the subject of case studies at Harvard Business School, IESE and he frequently guest speaks at many of the top business schools around the world. He helps the music industry identify high potential songs and talent and helps musicians get deals, get fans, & get better: http://musicxray.com