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I run Wonderland Records, a independent record label in Sweden, and I have now been in this amazing (in both positive and negative ways) business for about 5 years.
Just wanted to post a general recommendation for you who are new to this business and maybe even some of you who have been in the business longer and feel that you are getting stuck.
-Try your outmost to get the money you need to keep going from other things than “the business”. Never expect the revenue from iTunes, music streaming services, live shows, merch and CD sales to cover more than the costs you have for them.