Headphones on AltDialogue’s Mixtape Vol. 1

“Fresh and invigorating, this delightful female led punk rock sets Sere Trouble out as one of our favourite new acts of 2016.”

Headphones is my contribution to AltDialogues Mixtape Vol. 1, together with another 32 brilliant songs from other artists.

100% of proceeds are being donated to Barnardo’s. Get involved in this brilliant cause.

AltDialogue Mixtape Vol. 1

Advertisements

On music and money: for unsigned musicians based in London

I spent the last couple of hours (not always easy to retrieve the numbers) trying to figure out whether with music I am at a financial loss, or not.
There are only two sources of cashflow at the moment: releases and gigs.

The final balance shows +£0.13 in close to 2 years.

Here’s how.

Releases

Since I started taking music TO A WHOLE NEW LEVEL (for me) I produced 2 releases:

  1. Broken and Uneven (album, 11 songs), released on 02/06/14
  2. What’s In Your Head? (single), released on 17/11/15

Being 100% DIY at this stage, the only costs I incurred** were those of the aggregator that I used (Record Union).

The album distribution cost me $60 (2 years of distribution + one-off fee) to date and the single $10.42 (1 year distribution + one-off fee).
For a total of $70.42.

So how much did I earn for my 2 releases?
Look at this table; it is the export from my account on Record Union.

screenshot

I got $66.26.

Making a loss of $4.15, today equivalent to £2.87.


Gigs

I started gigging July 2014 and by September 2015 I had played 31 gigs.

Assuming that I buy a couple of drinks (hihihihi) and take the tube every time I play I could roughly estimate having spent about £248 (£4 X 2 X 31) for alcohol and £148.8 (£2.4 X 2 X 31) for transportation.
A total of £396.8.

Being a registered member at PRS, which is an institution that helps songwriters and composers earn money for their music, I can log all my gigs and claim some royalties for having played them.

31 gigs got me to earn £149.80 from PRS.
On top of that I remember getting paid £50 once and will estimate a generous £20 for other 10 times which will skyrocket me to having earned a total of £399.80.

Making a profit of £3.


Final considerations

Taking my loss from the releases (£2.87) and my gain from the gigs (£3) I made a profit of £0.13.

If I had made a shit-load of streams on Spotify, say 1 million, I’d have made $6,933…still not that much!

I conclude that at my level it is really really really important to keep costs down and in check; together with having A REAL source of income (aka another job).

**For simplicity, I have taken N assumptions and disregarded a number of costs: my house, my gear, my time. Technically you could say I am at a loss then BUT I would argue that I would have spent most of this money anyway.