At the tender age of 15, David Xavier Sánchez, more popularly known as David Daxsen in the music industry, embarked on his musical journey armed with nothing more than a bulky Toshiba laptop, a modest $60 MIDI keyboard, music production software and a remarkable creative prowess.
With these tools, a young Sánchez founded his own record label, which he named Daxsen Records, and began releasing his music and that of other emerging artists. Despite his young age and the lack of information about the music industry in Latin America, Sánchez managed to open an office, organize electronic music events and expand to Mexico, where he established one of the country's first commercial electronic music labels.
Fast forward 13 years and this enterprising individual, hailing from a diligent middle-class family in Ecuador, now stands as the proprietor of an impressive conglomerate comprising 52 record labels known collectively as Daxsen Music Group, and has achieved relations with companies such as Sony Group Corp.'s SONY Sony Music Entertainment, Warner Music Group and Universal Music Group NV UMGNF.
Throughout his career, Sánchez has collaborated with esteemed artists, including Snoop Dogg, FloRida, Tiesto, Steve Aoki, Hardwell, Alesso and others. Beyond his prodigious achievements in music, the 27-year-old has amassed an enviable fortune of around $400 million, leaving an indelible mark in the media, real estate and philanthropy.
In an exclusive interview with Benzinga, the entrepreneur provided three tips for those who wish to succeed in the music industry without necessarily being widely recognized superstars.
"It's a fascinating topic because essentially, less than 1% make it in the industry. And even among those who achieve recognition, many struggle to maintain it," said the producer.
1) Synchronization
According to the owner of Daxsen Music Group, synchronization is the gateway to various media platforms, enabling created songs to reach films, television shows, novels, commercials and more.
"Typically, you receive an upfront fee for featuring your track there, and additionally, it generates royalties from copyright and other sources. It is important for producers and artists to have their music placed in all sorts of audiovisual projects," Sánchez said.
2) Strong Online Presence
Sánchez emphasized that having a "strong personal brand" is an effective way to build a community and, consequently, enable the artist to market themselves in various ways.
"An artist who doesn't necessarily have to be a superstar can still sell merchandise, even at a small venue, with a strong online presence. They can also develop products such as courses," he said.
Furthermore, Sánchez recommends authenticity on social media platforms. "Your online profile should be as genuine as possible and closely aligned with the artist's true self. This is what will be expressed and what they will offer to the community through their developed products," he said.
3) Control Over Royalties
Drawing from experience, Sánchez passionately advises novice artists to have control over their royalties.
"Throughout your career, you'll create numerous tracks, but if you don't have control over your royalties, managing collections becomes tedious because your music will be scattered everywhere," he warned.
He added: "This would be my most significant advice, especially since record labels can profit from synchronizing your music, earning money from digital platforms and copyright. If you don't have control over these aspects, managing collections will become an impossible task."
Image courtesy: Daxsen Music Group
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
