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February 08, 2005
A music industry case study
So you want to be a rock 'n roll star?
There is little doubt that there is money to be made in the muic business, the real issue is made by whom? The following is an excerpt from a New York Times article addressing this very question. Read the article in full. It's reality check time.
A look at a mythical rock band's earnings, with actual figures compiled from industry sources:New York City's hottest new band is Grunthead, a four-piece hard rock group from Maspeth. Because they've got buzz, the band gets a 15% royalty rate, a few points above the usual amount for a new artist.
Its debut, "Gruntastic," goes gold – only 128 of more than 30,000 records reached that level in 2002.
The Gold Record Gross: 500,000 albums sell at $16.98 = $8,490,000 The Grunts' royalty is 15% of retail. That's $1,273,500… [ARTICLE]
Attention artists, bands and performers: get your paper straight. It is all about the paper.
Posted by BIGBAER at February 8, 2005 12:13 PM
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