Katy Perry has done something many artists would like to do by launching her own record label. This is also something that many other successful artists and bands have done. It is often a sign of success, but it can also be a very risky move. Having a good business head is extremely important.
The Roar singer chose to name her record label Metamorphosis Music. It is a poignant name and means a lot to the singer, who has changed dramatically over the years. She started off as a minister’s daughter, and has become the sometimes controversial artist she is today. Deciding on a name is sometimes very hard for a business owner, but Perry has managed to find something personal, inspirational and clear for her own label.
As well as releasing the name, the singer shared the name of her first act, Ferras. He is a singer and songwriter, which are extremely powerful for the industry. On Instagram, she also shared the logo of her label, which is a simple butterfly or moth with the name of her label through the middle. The logo makes perfect sense based on the way butterflies and moths go through a stage of metamorphosis.
Ferras’ debut album has the song Legends Never Die, which features his new label boss. She also executively produced the record. There is hope that this will help to kick-start her new label, which will be needed to ensure its survival.
It is a major step for Perry to launch her own record label. Any new business is a risky move, especially in an economic climate that is still growing. This will be a joint venture with her current label, Capitol Records, which can bring its pros and cons.
TV show Nashville has shared the complications of setting up a record label, especially within another record label. In the show, Rayna Jaymes (played by Connie Britton) buys herself and her label out of the contract at Edgehill records for $20 million. However, there is a lot riding on this, as it means she puts her home on the line, as well as dissolving her stocks. Should the venture fail, she would be left with nothing. The show goes into some of the deals business people need to make as they fight for their company to survive.
The benefit of creating the label as a joint venture does mean that Perry will not have risked as much as the fictional character in Nashville. However, that does not mean her money and reputation are not on the line. She will still have a lot of work to do if she wants this to succeed, but she will have more money available to her to help with this.
The 29-year-old has not shared ideas for the types of artists she is looking for. She is likely just looking for talented and genuine people, and would like them to be themselves. She has, after all, made a fortune by being herself on the stage and in her music. Perry could be seen as a hypocrite if she did not allow this with her new record label that she has now successfully launched.
Opinion by Alexandria Ingham