I truly think that musicians that make it big are entrepreneurs. I’m going to use Justin Bieber as my example just because he is so well known right now.
Musicians spend hours perfecting their personal craft and identity. Justin became famous at the age of only 12 (he is 19 now). I know that everyone thinks he is that cliche singer who markets to young girls, but there is more to it than that. As your fans group up you have to “reinvent” yourself to stay popular. Once you became famous you have to create a brand. This is where, I think, the entrepreneur comes out in most famous musicians. Justin created a clothing line and a perfume line. This is a second revenue steam apart from his singing career. Creating a signature color, I think, was one of the greatest ideas he ever had. Now every teenage girl, or older, associate the color purple with JB. Justin Timberlake is another great example of a musician that has reinvented himself over the years.
Being a famous musician takes so much effort. You have to believe in yourself and your music. It is no different then believing in your idea or concept to carry it through to a profit or nonprofit business. It takes so much time and passion. I also believe that professional athletes are the same way. You have to create a “brand” in order to survive past “your time.” That is 100% an entrepreneurial venture.
You’re totally right. Popular artists are some of the most successful entrepreneurs in today’s world. Developing one’s band/artist brand and successfully marketing requires business acumen, something that isn’t common to all artists. Residents on the top of Billboard owe just as much as their success to successful marketing and entrepreneurial savvy as they do to whatever musical talent they possess. Justin Bieber is a perfect example of an artist that successfully came from nowhere (using Youtube, a Web 2.0 phenomenon) to become one of the most popular artists of his day.
Even though he is kind of a punk, you are right that he is a great example of an entrepreneur. From a young age it’s obvious that he was interested in and committed to music. His ability to use what venue’s he had available to get his name out shows some solid entrepreneurial characteristics.