Situation Analysis written to explain the market that my business would reach.

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Situation Analysis
Jamari Hodges
Full Sail University

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Market Analysis
Market Summary
The music business that will be analyzed is artist management. The North American
Industry Classification System (NAICS) code for the industry sector is 711410. The industry
sector includes contract negotiations, handling finances, and promoting the careers of their
clients (NAICS, 2017).
Artist managers act as a bridge between the artist and business world. An artist manager
is continuously working on things for their artist like booking gigs, creating marketing strategies,
and establishing career goals. When necessary, they have to become that advocate for the artist
when negotiating record deals and lobbying on the artist behalf with label, promoters, and etc.
With them having so much on their plate, artist managers usually earn anywhere between 10-
25% of the artist’s gross income (Cornell, 2017). When an artist picks an artist manager, they are
trusting them to help elevate their careers. This is a huge decision that must be made after
thorough examination and consideration. Choosing the right manager could be nerve wrecking
for the artist which is sign of high-involvement decision making.
When making high-involvement decisions, they tend to be cognitive rather than
emotional (Allen, 2015). Honestly in artist management decisions can be made using a mixture
but to be successful, cognitively is the way to go. In artists management it’s a lot of thigs things
that may arise that could make you feel some type of way emotionally, but you just must stay
focused on the picture. You are not choosing a manager to make you feel good, you are choosing
a manager to help you get to the next level.
When it comes to the needs and motives of an artist looking for an artist manager,
according to Maslow’s Hierarchy of Needs, it would be under Esteem and Self-Actualization. An

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artist is looking for validation to prove they belong in the music industry. They also are seeking
knowledge and trying to obtain self-fulfillment during this search for an artist manager (Allen,
2015).
Market Trends
Social media and streaming services have really changed the game between labels and
artists (Pastukhov). There has been a power shift back towards artists. With that the managers
will began doing more and more for an artist’s career. With how the landscape for music is now,
the managers will add more to heavy workload almost starting to function as promoters for the
artists. So, in the end as the artist get more powerful, the managers will too.
One negative trend for artist managers is the pandemic. COVID-19 really put on a halt on
doing live shows. In doing so took away a huge stream of income for artists, which also is a lost
for the managers. As a result, managers have had to get creative in their thinking to help their
artists retain some of the loss income and help themselves with their money. For example, some
artists offered live streamed performances to generate revenue (Hall, 2020).
Target Market
The target market for my artist management company consists of males and females
living in the Middle Georgia area. The ages vary between 17-27. The income ranges vary
depending on their age. Usually, the net worth is below $100,00. They like the city life and is
intrigued by the music scene. The studio is their second home and are constantly striving to be
better artists. These people are dedicated, passionate, resilient, and very attentive. They are artists
who want to work with a manager to help elevate their careers.

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Customer Persona
Quan is a 23-year-old Rap artist from Wrightsville, GA. After graduating high school, he
immediately got a job to help pursue a career in music. He’s got a few hits in the Middle Georgia
area but is not getting his music heard as much as he likes. He’s done live showcases for
underground artist and performed at venues around his hometown. When not in the studio or on
the road doing a show, Quan loves to spend time with family, play basketball at the local rec
center, and watch football with his friends. Quan is ready to release a new project for his fans
and feels this could potentially be the one. He is looking for an artist manager to help him
develop his brand and help take his career to the next level, not only for him but his 2-year-old
daughter Malaysia.
Competition
A direct competitor of my company would be Magic Music Management. Like my
company, Magic Music focuses on developing the artist’s brand to help him get to that next level
in their career.

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An indirect competitor of my company would be Authentic Empire Music Group.
Authentic is a label who help manage and develop rap artist.
Strengths
Magic Music is home to Ryan Leslie, Headkrack, ET, and Jibrizy (MMMGT, 2021).
They are home to a Grammy-nominated artist who speaks volumes to an artist looking to
catapult in this industry. They focus on the image and branding of an artist to help them reach the
next level. They have many connections and relationships that my management company doesn’t
have at the time.
Authentic Empire is home to some of the hottest indie rappers right now such as G.A.,
Money Mu, Foogiano, and Geezy Escobar (AE,2021). The CEO, Boomman is well respected in
the Atlanta area which is a major advantage. They have a decent following on Instagram sitting
at 134k followers. Another huge advantage is that the label is 100% independent and their motto
is that their dedicated to helping independent artists.
Weaknesses
One weakness with them is that while they do have a Grammy-nominated artist it wasn’t
a rapper. The rapper they do have Jibrizy is not that well known. Great management company
but I don’t think they quite mastered maneuvering through the rap industry which I feel is my
strong suit.
Authentic Empire has been in turmoil the last few months because two of their former
artist has admitted publicly that Booman himself is scamming artists out of money. The
uncertainty around the label is big weakness right now in acquiring talent.

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Positioning
To upcoming, dedicated rap artists in Middle Georgia in need of branding and artist
development, Grindhearted Management is an artist management company that has the education
and experience needed to help build your brand and take your career to the next level.

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References
Artist manager. Berklee. (n.d.). Retrieved September 13, 2021, from
https://www.berklee.edu/careers/roles/artist-manager.
Authentic Empire. Authentic Empire - Be Discovered. (n.d.). Retrieved September 13, 2021,
from https://www.authenticempiremg.com/.
Macy, A., Rolston, C., Allen, P., & Hutchison, T. (2016). Record label marketing: How music
companies brand and market artists in the Digital Era. Focal Press.
NAICS code: 711410 agents and managers for artists, athletes, entertainers, and other public
figures. NAICS Association. (n.d.). Retrieved September 13, 2021, from
https://www.naics.com/naics-code-description/?code=711410.
Part 1: The Artist & Manager Relationship - A look at recording industry management
agreements - tunecore. United States. (2017, March 28). Retrieved September 13, 2021,
from https://www.tunecore.com/blog/2017/03/part-1-artist-manager-relationship-look-
recording-industry-management-agreements.html.
Team magic. Magic Music Management. (n.d.). Retrieved September 13, 2021, from
https://www.magicmusicmanagement.com/team-magic.
Ucaya. (n.d.). Market intelligence for the music industry. Soundcharts. Retrieved September 13,
2021, from https://soundcharts.com/blog/music-industry-trends#as-artists-grow-more-
powerful-so-will-music-managers.

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Written by Stefan Hall, P. L. (n.d.). This is how covid-19 is affecting the music industry. World
Economic Forum. Retrieved September 13, 2021, from
https://www.weforum.org/agenda/2020/05/this-is-how-covid-19-is-affecting-the-music-
industry/.