So i'm actively involved in a school project where I need to start a ficticious company and build an entire business plan, cash flow statement, etc. So I wanted to start my own DJ promotional agency. The problem I didn't realize was that doing the research on this, in specifically the EDM scene, is quite hard. So I thought I might ask this question on this board to see if anyone could help me with a few of them.
I realize that promotional agencies take care of the bookings for DJ's, but I was wondering what the industry standard fee or commision rate is for them (agencies) when it comes to booking a DJ. Or does it vary from DJ to DJ depending on their demand and popularity? Also since I'm assuming DJ's sign contracts with these agencies, the only way to get these artists and DJ's to play is to go through the company? Also what exactly does the promotional agency really take care of that the DJ cannot do on his/her own? I'm assuming that alot of their job entails promoting and advertising their artists or DJ's to get more bookings, but this cost money. Is the money spent recoupable from artist revenue? Does the artists pay whatever money is spent on promoting them in the long run kind of like a record deal?
If anyone could help me out that would be great. I could use all the information I can get to help my research.
-Milo
I realize that promotional agencies take care of the bookings for DJ's, but I was wondering what the industry standard fee or commision rate is for them (agencies) when it comes to booking a DJ. Or does it vary from DJ to DJ depending on their demand and popularity? Also since I'm assuming DJ's sign contracts with these agencies, the only way to get these artists and DJ's to play is to go through the company? Also what exactly does the promotional agency really take care of that the DJ cannot do on his/her own? I'm assuming that alot of their job entails promoting and advertising their artists or DJ's to get more bookings, but this cost money. Is the money spent recoupable from artist revenue? Does the artists pay whatever money is spent on promoting them in the long run kind of like a record deal?
If anyone could help me out that would be great. I could use all the information I can get to help my research.
-Milo
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