In my research I find that this is a vast topic on which we can have an open discussion, it has many branches that need to be seen and covered by us. With my understanding of what I found, I am jotting it down for everyone. So here goes:
• Fine art
Fine arts talks about the aesthetic value rather than the functional value (it is ‘art for art’s sake’).
The idea of fine arts is deep-rooted in drawing and designed based arts like painting, sculpture, and so on.
• If we compare music with art we find:
1) Music in comparison to arts are sold at a very low price, the financial relationships that I found according to my research are: if one painting sells for $37 million, and the price that can charge for a song is $.99. There is a big difference between the prices of both.
2) Value of art is more than music as they can be bought, stored, viewed, and bragged about if it is in someone’s possession.
3) A visual art creates static creation, whereas in performing arts it is alive (in motion) creation.
In my understanding music is not valued much as a fine art because it does not have a value like painting etc. (some artifacts of music may have had been of great values at some point I am not denying that) if we look at musician we find that they are performing more than composing, that may be because live performances and concerts are a better way to earn. But to get music valued as fine arts, there are ways or options that can be opted for and worked on, such as:
1) Compose a unique tone or music
Understand the difference between what is played at bars (entertainment realm) and what is played in opera etc.(fine art realm), work for the finest and find your signature tune, because for that unique signature tune people would be willing to buy your work, value it more, and so on. You can easily check on various website to understand the composition of music tone. A website like YouTube, Vimeo, daily motion provides many free compositions to you understand the things in a better way. Or you can simply Download videos youtube to mp4 mp3 for future use.
2) A music gallery
Just like art shows in art galleries we can have music shows in music galleries, where different musicians can show cast their work, not in the form of performing arts, but via sound mediums that can be used to play their records. In art galleries, the sections are divided for different genres and paintings the same can be done for music also.
3) Make it come alive
Make your work tangible and available for those who are willing to buy it, don’t make it easily assessable.
4) Make it exclusive
Picassos work is loved and admired by all, but it cannot be owned by all. Then need to have exclusive things in one’s possession is what makes fine arts so popular. Make something exclusive and well you will get what you want.
5) Sell your work
Open an auction for your work, those willing to get exclusive, and those who love music will be present to look at your work and buy it a price that is efficient and good for both the musician and the buyer.
6) Demand and supply
The greater the supply, lower is the demand. But for this law to work, you should keep in mind the psychology of the masses and work on your advertising, marketing, and public relation. Without these, you cannot increase your demand even if you have a minimum supply. Take it from me it is true, I know because, well I am a student of both mass communication and economics.