Earnings question?

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  • #29661 Reply
    Paolo
    Guest

    @boinkeee2000

    from my understanding there’s a bell curve per the shelf life of a track…

    how do you analyze your catalogs performance in relation to time?

    In my experience, and i guess for a lot of us, there are so many inconsistent scenarios. I’ve had tracks strike gold out of the gate(used in promos, several reality shows) and other tracks untouched for a few years and then get picked up by a show and used often. And of course there are tracks that seems like everybody hates them 🙂 until someone doesn’t.

    I haven’t found analysis beyond a quick assessment to be very useful. IMHO, just a quick scan of PRO statements, cues sheets, briefs, etc are all that’s needed to get a sense of what is working right now and what might be useful to try next.

    #29662 Reply
    MichaelL
    Participant

    In my experience, and i guess for a lot of us, there are so many inconsistent scenarios.

    I tend to agree with Paolo. The “new” business models of the last ten to fifteen years have disrupted older patterns. The bell curve is probably not as appropriate, although I do believe that trend-based music eventually fades unlike “evergreen” tracks.

    In the “old days” there was a lengthy time frame for a library to conceive of a “collection,” bring it to fruition, and then get it into the market. There was a more finite amount of content on the market. Music editors physically serached through and auditioned tracks on vinyl!

    In the “new” DIY world there are countless variables and so much comes down, not only to the music, but to a composer’s ability to market their own tracks with keywords and appropriate titles.

    I’ve had new tracks get instant sales on RF sites and I’ve had re-mastered old tracks enjoy a second life on RF sites. For me it is a bit of a rollercoaster more than a single bell curve.

    However, given that variety of business models, it is possible that some content follows a bell curve. I would suspect that the TV focused libraries may be more “out with the old, in with the new” than other models, as editors may hit the “refresh” button more often.

    #29671 Reply
    LAwriter
    Participant

    Sorry. Debbie-Downer here….

    I know this is an older thread, but if you consistently find yourself asking the questions posed earlier, you are in the WRONG business. Do it because you love it and forget how much you’re making or how many tracks you need. Make money elsewhere. Sitting around and “calculating” how many libraries you need to be in, or how many tracks you need, or how many pages your BMI statement has to be before you’ve “made it” is a fools errand.

    Either do it and take what you get, or don’t and make money elsewhere – keeping music as your soul inspiration.

    It’s the new-world business paradigm – music for love, job for money.

    #29674 Reply
    MichaelL
    Participant

    It’s the new-world business paradigm – music for love, job for money.

    There are easier ways to make money and better ways to make music!

    #29676 Reply
    LAwriter
    Participant

    Indeed!! Zero doubt about that.

    The advantage of actually working a job for your income is that it keeps music pure and spiritual – the way it should be.

    As opposed to making it a job and spending your free time figuring out how many tracks you have to crank out a day/week to earn a living — all-the-while living in fear that you’re not going to “make it” in time…..

    #29677 Reply
    MichaelL
    Participant

    The advantage of actually working a job for your income is that it keeps music pure and spiritual – the way it should be.

    Some people would say that’s naive, that it’s a business and you should just be a “pro” and crank it out. At the end of the day, do they create something more than product that anyone would actually care about or want to listen to?

    This is where we venture into discussions about art vs commerce, a topic for another day.

    #29678 Reply
    Art Munson
    Keymaster

    There are easier ways to make money and better ways to make music!

    So true! Since starting in this end of the business about 11 years ago I have often said there are so many easier ways to make money! Having outside sources of income has always been my mantra, even in those years when I’m doing well.

    So, tip for all you youngsters. The biggest source of wealth growth, for me, has been the stock market. At age 50 (I’m now 77) I finally understood. Invest in the broad market and don’t freak out on the downturns. As you age 40% stocks 60% cash and bonds. Reverse that when you are 50. If in 30s at least 80% in stocks. YMMV 🙂

    #29679 Reply
    Music1234
    Participant

    Art, I actually like investing the “Stock Music Market!” I agree with stock market investing but do it slowly…a little bit each month over 3 to 4 decades (I would not bet the house on it today because I sense a massive tumble coming soon). I also STRONGLY agree with other sources of income.

    If you have the chops to write and mix at a very high level in many styles, I do think and hope it’s possible for a new youngster to make a living solely at production music. Perhaps some of you know about the 18 year old aussie who entered a site most are aware of and proceeded to sell about 1000 licenses a month. I think the youngster was pulling down 20K a month for a few months. Obviously a rare event. If you believe you are super talented, are willing to grind it out for 7 to 10 years and write 1000 high quality cues, you may have a shot at making a living where you can actually support a family.

    That’s just the writing part. You better also be ready to do all the grunt admin work like endlessly prep spreadsheets, submit, make some cold calls, get on planes and possibly meet some folks in the big cities like NYC, London, and LA, send lots of emails, and really have a savvy business strategy overall.

    #29680 Reply
    Art Munson
    Keymaster

    I agree with stock market investing but do it slowly…a little bit each month over 3 to 4 decades.

    Actually dollar cost averaging (a little bit each month over 3 to 4 decades) has been studied and is not necessarily any better then any other plan and you may earn less.

    I would not bet the house on it today because I sense a massive tumble coming soon

    I agree but for folks with a long time line (3-4 decades) it will not make that much difference.

    Anyway, this is probably for another thread and I’m not recommending anyone take my advice. Just my opinion and what I have learned.

    #29685 Reply
    LAwriter
    Participant

    I’m playing catch up on the market. I’m aware that I may lose big. It’s a gamble I need to – and am willing to – take, as I”m nearing retirement.

    I’m going with Vanguard Index funds. Index funds have outperformed the vast majority of “managed” funds the last 50 years. Fingers crossed and eyes open…..

    PS – Investing in MYSELF was the best investment I’ve ever made. Gear, Mics, Consoles, Studio(s), Backline. Hundreds of thousands over the years. It made for a good career, although I don’t know if it would work again….

    PPS – investing in a house in LA was the 2nd best investment. Thanks to the Chinese I made a killing…. Again, don’t think that would work again starting in 2018 – but who knows.

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