Youngrichyrich – Real or imagined? You decide.

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This topic contains 27 replies, has 7 voices, and was last updated by  Art Munson 1 week ago.

Viewing 13 posts - 16 through 28 (of 28 total)
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  • #32599

    LAwriter

    1. $140K split among 70 writers is only $2,000. How many tracks did each person have to write to make $2K?
    2. Maybe “assembly line” production isn’t creatively satisfying. That actually still matters to some.

    So, perhaps the money and the work are both not appealing.

    Yes. Ditto. 140k split so wide would barely pay a one month house payment. Also, juggling that many creatives is quite possibly my definition of hell. So….yeah, not my cup of tea either financially or logistically or creatively.

    #32600

    BEATSLINGER
    Participant

    have a nephew working on one of those “teams”, with a major library. He’s very talented, gets lots of placements and struggles to live in L.A.

    I think I know which team this is.

    (But back to the 1000 track claim from an MLR unknown)
    Being in a good few of the Top Libraries. I work with “producers” that package these albums for the many “Sub-divisions” inside of the majors.

    I know for a fact, these producers are turning in far less than 1000 tracks a year, and are making far more than 140K-to-250K

    If you are churning out numbers like that, why wouldn’t you just have your own Library/Catalogs inside of either one, or multiple companies/distributors?

    Somethings not adding up for me; and I personally know, and work with some of the biggest in this industry.

    #32601

    BEATSLINGER
    Participant

    Double-Dip

    Is it just me, or does the story keep making slight adjustments?

    Also, Is my math correct that 250.00 X 1000 is 250K?

    Those are REALLY Bad Returns on ANY level.

    #32602

    LAwriter

    Also, Is my math correct that 250.00 X 1000 is 250K?

    Yes! Your math is correct sir. So…if taking mrRich’s provided percentages 60/40 upfront to backend, he is making (approx) :

    $150 upfront for the buyout,

    and

    $100 back end.

    Per piece of music of course. WOW!

    But in reality, probably a lot less because I presume he’s also got back, end royalty streams from years past figured into his $250k bottom line….

    Not exactly a stellar takehome when divided up 70 ways….

    #32603

    Youngrichyrich

    “Haters don’t hate you

    They hate themselves

    Because you’re a reflection of what they wish to be”

    I’ll leave that there.

    I was positive and you give me hate instead of curiosity about how I was able to do what I do. I have a wealth of knowledge as an industry titan and am willing to share some of it.

    PS: I work an hour a day because I run a business – employees, independent contractors, automated systems, etc.

    Also am not a publisher.

    #32604

    Youngrichyrich

    @michaell

    Nothing is appealing to everybody – ask our 70+ musicians if it’s appealing.

    We’re going to put out 100 albums this year with big libraries lol $$

    #32605

    BEATSLINGER
    Participant

    I was positive and you give me hate instead of curiosity about how I was able to do what I do. I have a wealth of knowledge as an industry titan and am willing to share some of it.

    You know something, Young Mr.Rich
    You are absolutely right. I will say that because of my many years in both the record side of this “business”, and the production music side; that it has made me a bit cynical.

    I am getting the “impression” that you are quite young, or at least much younger than I. So, if I might let me throw a few things out there..

    There actually ARE a few “Titans” that are members of this forum, and “they drop Jewels/nuggets of insight, wisdom, and incredible candor & testimony!”

    Hang out, learn the playing-field, and take it in. I am willing to bet that this same time next year you will have made strides you didn’t think in your wildest dreams.

    No-one is actually “hating” on you, many of us here are quite successful. Your story just seems a bit “far-fetched”, and to be honest (IMO) not very lucrative, or worth the time.

    I do wish you all the best, and I hope that everything you want out of this industry comes to you!

    #32608

    UpFromTheSkies
    Participant

    Lost me at calling yourself a “titan.”

    #32610

    Youngrichyrich

    @beatslinger

    Thank you for your response

    What do you mean “not very lucrative or worth the time”? Lucrative and worth the time to who? I work an hour a day making $200k+/year – seems lucrative and worth the time to me

    #32611

    Youngrichyrich

    Responding to @music1234 who said

    Finally, certainly you have overhead running such an operation? So while your sales may be 250K this year from the 70 writers/ 1000 track catalog, I am sure you had to spend a good chunk of that $ running a web site and engaging in other marketing and distribution costs. This type of “part time side hustle” where you are only working 1 hour a day seems to not really add up.

    $200-250k profit. We’ll bring in approx $500-600k in revenue in 2019.

    I don’t have any website or “distribution costs” (not sure what that is).

    95% (probably even more) of the business expenses are on labor

    I do work an hour a day. I also have the option to delegate it and work 10-15 min/day (hopefully less)

    Does this pass your test? plzzz believe me

    #32614

    Music1234
    Participant

    Hey Youngrich, who am I to not believe you? Congrats on a winning strategy. I wish I knew your short cuts because for me, I have been grinding away at this for 2 1/2 decades and I have only earned through good old fashion hard work.

    I actually believe anything is possible. Let’s all tone down the pessimism and doubt and let this discussion continue because in this business anything is possible and clearly all of us have seen stranger things happen where suddenly a lot of money comes falling down out of no where (Don’t we all love those moments!)

    By “distribution costs” – I am talking about the time involved in either:
    A. Self Uploading music tracks to stock sites (direct license models) or
    B. Submitting music to publishers who then distribute to multiple overseas publishers and register all titles at PRO’s.

    It takes me and others a lot of time to do those tasks and yes I too at times employ people to handle that admin work for me and no I am not using free interns to do those tasks. You personally may work 1 hour a day on your model, but still just managing the inflow of music from 70 writers takes time so clearly you have an employee who is working for you. Or perhaps you do not?

    I have one final question: if you don’t own a library, do you just distribute the music of 70 writers to another Library/ Publisher?

    #32616

    BEATSLINGER
    Participant

    What do you mean “not very lucrative or worth the time”?

    For me, it means that the break-down/amount of money that is income from each track does not justify the time and energy for me.

    I am in Libraries where the “Non-Recoupable” upfront monies are in the 4 digits; with 50/50 splits on everything. So, averaging 250.00 a track does not work for me personally.

    Also, My “Titan” Pal. You are saying that you have 70+ writers, with no website, no distribution costs, and basically just labor costs? I would love to know how you “advertised” for these 70+ writers to even let them know you exist. Also, You mentioned “Automated Systems”. Please help me to understand that, and how that would not be a website; or something that would have maintenance fees attached to it.

    I hope you don’t say You’re a “Vendor” to any of the Majors.

    #32617

    Art Munson
    Keymaster

    Hey Youngrich, who am I to not believe you? Congrats on a winning strategy.

    This is really nothing new but Youngrichyrich’s original assertion was that in 6 years he alone was making $250k a year. The story has since morphed into “70 writers”, 1000 tracks a year and working an hour a day.

    Go back to the 70s and it was Mike Post, in the 80s Hans Zimmer. Other lesser known composers have done something similar, even to this day.

    My problem with Youngrichyrich is the constantly evolving story, wild assertions and no desire to provide any evidence to support his claims.

    In this era of Fake News I think healthy skepticism is in order!

    This thread is closed.

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