Young American actress, singer, and songwriter Olivia Rodrigo became well-known for her portrayal of Nini Salazar-Roberts in the High School Musical: The Musical: The Series on Disney+. She debuted her debut song, “drivers license,” in January 2021, and it quickly became a huge hit all over the world. The song spent eight weeks straight at the top of the Billboard Hot 100 chart, where it debuted.
Did Olivia ever sign a record deal, though? Yes, it is the answer. In response to the popularity of “drivers license,” Olivia inked a record deal with Interscope and Geffen Records. She reaffirmed this in a February 2021 interview with Billboard. I signed with Interscope and Geffen, and it’s been great,” she exclaimed. I can’t wait to release new music.
Olivia has access to resources that can aid in the creation and promotion of her music because she is an artist signed to a major record company. Vevo is one of the platforms used to promote her songs. Vevo is a platform for hosting videos that focuses on music videos. Major record companies including Universal Music Group, Sony Music Entertainment, and Warner Music Group are the owners. Vevo gives musicians a stage on which to present their music videos and connect with more people.
Olivia makes money from the sale of her music in addition to the record agreement. The Verge claims that Apple keeps 30% of the proceeds from each music that is sold for 99 cents on its iTunes store. Accordingly, Olivia would make about 70 cents for each song that was sold for 99 cents. This is only an approximate estimate, though, as other things could have an impact on her real earnings.
It’s not necessarily profitable to own a record company, however it can be. The popularity of a record label’s artists, the expense of creating and promoting music, and the level of competition in the music business are just a few of the variables that affect a label’s profitability. Some record companies have a reputation for making significant investments in their musicians yet receiving little or no return. However, it can be a profitable business if a record label is able to sign popular musicians and effectively market their music.
Following the popularity of “drivers license,” Olivia Rodrigo did sign a record deal with Interscope and Geffen Records. She has access to tools that can aid in the creation and promotion of her music as an artist signed to a major record company, including the use of Vevo. Although owning a record company might be financially rewarding, it’s not always a certainty, she also makes money from the sale of her music.