Last week we considered the right of a musician, or let’s say a recording artist, to perform his or her original works. This is a right that is sacrosanct nowadays because the days of record sales being the primary source of income for recording artists are over. Nowadays live performances generate a greater percentage of the artists’ income. The recordings still generate income, but the balance is different. I guess that’s why concert tickets are so expensive, while recordings are practically free.
Maybe this is how it should be. Now you have to be able to play, perform and entertain to earn your living as a recording artist. I mean we are talking about the entertainment business, right?
There are benefits to being a strong performer, and not just the benefit of being able to command a high price for tickets for people to come see you. You are in a position to develop a persona. Really what you are doing, I think, is developing your brand. This doesn’t just come from performing your music. People want to know what kind of person you are. You can give them a glimpse by doing interviews, for example. I’ll give you an example of why I think this is important.
I was recently purchasing ingredients for margaritas (spring is finally here!). Naturally, this landed me in the tequila aisle at the local county liquor store. I like silver tequila for my margaritas. My favorite is Herradura®, but I also like deals, so sometimes I get something on the same shelf if it’s on sale. Interestingly, my Herradura was on sale, but next to it, also on sale and about two bucks cheaper, was Cabo Wabo® silver.
For those of you who don’t know, Cabo Wabo® is a brand of tequila as well as a nightclub franchise, founded by the musician Sammy Hagar.
I like Sammy’s music, whether it’s with Van Halen or otherwise. I also like his personality, which I understand from seeing and hearing him in live interview settings such as The Howard Stern Show and Live From Daryls House (which incidentally are both great showcases for the personalities of their proprietors).
In particular, I happened to hear Sammy tell the story of Cabo Wabo on The Howard Stern Show, and how the Van Halen brothers kept trying to get in on the action. Sammy’s story went something like: the Van Halens demanded they be allowed to invest in Sammy’s business; the business wasn’t doing well early and they demanded their money back; Sammy gave it to them; the business then took off; the Van Halens then demanded the be allowed to reinvest; Sammy let them; there were ups and downs; the Van Halens wanted a payout; Sammy finally got rid of them for good. At least that’s how I remember it.
Anyway, he painted a good picture of himself, made more hilarious by Howard.
Why am I going on about this? Because that’s why I bought the Cabo Wabo!
For more information on this topic, please contact Scott Lloyd at email@example.com.
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Scott Lloyd is a registered patent attorney who specializes in intellectual property counseling and commercialization work. He has served as a technology commercialization specialist and advisor to companies in a diverse array of markets, including biotechnology, pharmaceuticals, medical devices, food and beverage, specialty chemicals, technology, and engineering. In addition, Mr. Lloyd spent ten years as in-house general counsel to small and mid-sized companies, where he managed corporate matters and resolved commercial disputes in addition to intellectual property strategy, and now serves in the same capacity for entrepreneurial clients. He serves as counsel to small and mid-sized business owners seeking to implement growth strategies and succession plans.
While in house, Mr. Lloyd has also contributed to the successful formation of international affiliates of domestic businesses as well as a $400,000,000 business acquisition.
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