Building Careers in the Music Business

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Sept. 5 (Bloomberg) –- The Agency Group President North America Steve Martin discusses discovering bands and the ups and downs of live music. He speaks with Carol Massar on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)

Welcome back to "taking stock." i am carol massar in for pimm fox.

Let's head to our anchor.

The summit began in st.

Petersburg, russia today.

Diplomatic backing for u.s. military strike in syria was on the top of president obama's agenda.

He said that he plans to have extensive conversations about the situation in syria.

Brazilian authorities have canceled an initial turkey washington ahead of the president's visit next month.

-- an initial trip to washington.

This comes as edward snowden is accused of spying on officials in latin america.

When it comes to the $9 million nfl business, there is no off- season.

The league announced that a $300 million partnership with private equity partners and start up companies.

We are not going to invest in things unrelated to football.

We will invest in technology, media, and types of startup companies that may have an idea that will improve the stadium experience and add to the value of the game.

We intend for the investments to be carefully thought through and focus on our core business and in sport -- in support of the activity of ownership.

That was the vice president.

He will be on sportfolio tonight at 930 -- at 9:30 p.m. i will also be joined by the president and ceo of merck.

That is on bottom line on bloomberg television.

Back to you.

Thank you.

Our next guest discovered a fashion for booking music talent at the age of 17. steve martin is the north american president of the agency group and overseas more than 50 agents managing more than 1500 artist.

It was something i fell into it i thought i could do a better job booking -- then the local guy booking bands in the hamptons.

How did it go?

It was a wonderful experience.

I got to discover bands.

Ellie crystal became a friend of mine in later years.

It was a way to learn the ups and downs of music at a young age.

Lessons that i carry with me to this day.

What did you do in the early days -- what bands did you work within the early days?

You mentioned some of the ups and downs.

What were they?

Being part of something that was a live experience in the sense of this covered whether it was 100 or 1000 or 5000 people, it was a communal experience.

Being a part of that was satisfying.

The artist, their peccadilloes -- any form of narcotics or mania, things like that.

Some people did not want to pay, and that was the good.

-- and that was not good.

A lot of crazy moments in industry then you there has been a crazy moment in the music industry we have been talking about this week, miley cyrus.

If she was her client am a is this good publicity -- if she was your client, is this good publicity?

One has to wonder what will add to an artist longevity.

Will let at to the credibility of a long-term?

I don't know.

It has gotten her worldwide publicity.

One can only hope it has a long- term positive effect.

I would advise her to sing properly.

Some clients have it in their heart to express themselves the way they want to.

That is a good point.

As an agent, there is talent and there is tricks.

The business has evolved, but there are portraits today.

Is that fair to say?

Oftentimes, it is.

Some artists employee lip- synching or autotune.

Is the technology moving along and become part of the industry?

I prefer to hear the full -- faults.

That makes it a more human experience.

Who are some of the interesting new younger artists today?

Some that are doing well are sitting in color.

That is a client of ours.

Danny brown is another urban artist.

We have asap ferg.

How do you decide who to take on as a client?

It depends on the team around him.

Do they have the proper manager and publicist?

Does the artist have the integrity of the work ethic?

How do you determine that?

You have to go through 100 concerts with an artist and see how they get through them.

Interesting.

You have had -- if i code on the client list -- if i go down the client list, any stories in particular that have stuck with you over the years?

Did maybe one client stand out?

Something that said something to about the artists?

To watch her meet people before a show is an art and a wonder to behold.

Dolly parton would be 50 people inside of 10 minutes -- would meet 50 people inside of 10 minutes.

All of them felt like they had their full attention with her.

Her focus and sincerity are amazing to watch.

What about the business side of the music industry?

Ticket prices are averaging $674 and -- $674. has it gotten out of control?

Ticket prices that high make people choose to only go to one show.

That is all they can afford.

It is taking one or two children plus parking plus everything else becomes a $1500 night.

How many families can afford to do that three or four times a year?

Not many.

There are some that never charge more than $100. they try to leave something on the table for people to go then -- to more than one show.

That is what you want.

You want to train them from an early age to have a positive experience.

You have had ellis cooper, meatloaf -- alice cooper and the low.

-- and meatloaf.

There is a commonality.

You want to give your artist the most comfortable arena to perform in and make it a good experience for them.

There is nuance.

Sometimes an artist does not want to sing three nights in a row, and you have to remember that.

You want them to think it's a nice experience and for them to want to go other places.

Thank you.

That was steve martin.

Coming up, unusual locations.

Our next guest talks about that next.

? live from the artists den , it is a serious from pbs that puts artists with historic landmarks.

For more, we are joined by mark liberman.

You are a venture capitalist.

Originally.

You can do this in your home . i was out of business school and working in venture capital.

I became a partner.

At night i started producing concerts in my living room, called "the artists den.

Artist love to find a unique place to play.

We did it for a long time.

Eventually, it turned into a business.

That is when he said, there is something more here.

I found that i was more of an entrepreneur and interested in arts and creativity and being an investor.

This was something that was in the back of my mind.

When i saw artists be thrilled by what we were doing and fans lending it, i said, let's ache a risk.

-- let's take a risk.

What was it like the first time out?

How did it start?

What happened was that i could not get friends to come see bands that i love, so i invited them into my home.

They were skeptical.

Everyone was skeptical.

The taste was there.

The team gets behind every artist we put on our stage.

It took many years.

It was hard knocks once we started.

The labels were difficult.

The venues we try to reimagine for music were skeptical about putting concerts on.

We stayed the test of time.

Eventually, people said it was a good thing and got behind it.

The first broadcast artist was a lettuce morrison.

-- was alanis morrissette.

People found this afterwards and said that it would -- it should be on television.

Three days later, the television series was born.

We went on a five markets initially, five -- five percent of america.

I hate to use the word mainstream, but you have become an -- mainstream.

You are working with pants that are well known.

Artists are creative and love something inspiring.

Even the biggest artists in the world love the idea of creating a space that is unique to them to present their music.

It is an opportunity to present a unique side of themselves and their craft in a unique beautiful setting.

That is why we get some of the biggest artists in the world.

The other side, the business side, we broadcast to many homes.

It will trust our tastes.

It is a brand with integrity.

People have told us out was times that they buy music because of us.

Do you have artists coming to you now?

All of the time.

Our seventh season starts on monday.

Most all of the artist have come to us.

They have thought it out.

We have our 50th episode this season.

You have 1500 venues stockpiled?

We probably have 10,000 ideas . people come to us constantly with ideas.

They offer stories about a ranch bit no one has ever been to -- a ranch that no one has ever been to.

We try to get them and decide if it would be a good place to record music.

It is an endless number of venues.

Itself like you like working with all of these artists.

-- it sounds like you like working with all of these artists.

I went to princeton.

There is a story about bob dylan doing a show in the 1970's. i talked about bringing them onto campus and we asked him and he is considering it.

Cool job.

It is a lot of fun.

Thank you.

Good luck with the seventh season.

That was mark lieberman.

Let's go to su keenan for our bloomberg weekly report.

Tomorrow, a lot of numbers.

We have the -- earl numbers -- industrial numbers for germany.

In the u.s., we have the jobs report for august.

A hiring boost is expected.

It could change the unemployment rate.

For more, head to bloomberg brief stock on.

Coming up ethical shopping.

We talk to the founders ofzady s.com.

This is "taking stock." ? our next guest want to create conscious consumerism.

To tell you about that, our next gues ts are soraya darabi & maxine bedat you care about where your products come from.

Ex -- you can look at where your products are made on our website where we look into where the raw materials come from, where it is manufactured, and where it is headquartered.

When you talk to suppliers, you know exactly where things are coming from.

How do you verify that?

We start by asking them detailed questions at trade shows or in interviews about where their products are from down to the details of the raw details.

They are listed on our website for every product we sell.

We make sure that they are like- minded brands that we can sell with confidence.

We choose only those prints who have intimate relationship with the supply chain.

A vast majority of our fashion now our brands who license out their names.

And that gets subcontracted.

Then they have situations like a building collapse.

We try to bring it closer to home.

We feature the brands that we know where they come from.

You are both wearing some of your items.

Is a lot of it accessories?

My whole outfit.

We want to provide an option for your entire wardrobe.

We talk about the comparison with whole foods.

They talk about the animals and the farms and how things are produced.

Hopefully, people say it is expensive to pay for it.

Some don't mind.

What about the pricing on your items?

It is not about the price or item.

It is about the price per wear.

They are constructed so well and made with the highest and finest materials.

We will not give you the cheapest option always, but a lot of our products sell at price point.

It ranges from $16 to $600 brick the idea is to give you i -- things that are classic and will stay with you for a long time.

You just launched.

How is it going?

It is exciting to see the overwhelming support we have gotten across social media.

The ball want to see zady's. it is exciting to see that response.

How did you get started and terms of investor backing?

We raised $1.35 million from notable investors in media, commerce, and fashion.

We got strategic minds behind our business.

We want to become the global destination for people who care about the origins of their project -- air products.

You want to get back.

Five percent of sales though to your bootstrap project -- go to your bootstrap project?

It helps provide a craft tradition.

If we see beautiful crafts coming out of sandia, -- the cmb yet, we will put them out there with the crafts humming out of italy.

Thank you.

Soraya darabi & maxine bedat it is time for on the market.

The s&p 500 is up two points.

Up seven on the dow jones.

A 10 point gain on nasdaq.

This is "taking stock." ?

This text has been automatically generated. It may not be 100% accurate.

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