A few years ago, Web Watch posted a piece on using a MUSIC ROYALTY CALCULATOR TO DETERMINE ALBUM PROFITS, and we thought that it was a good time to revisit that topic.
Because many things have changed in the music industry since we we wrote that original piece. That music royalty calculator link is still valid, but we found another one that you might want to look at as well.
This one is multi-faceted. First off, there’s the ALBUM ROYALTY CALCULATOR that you can use to determine how many albums you need to sell in order to break even on your pet project. You’ll need to know your recording costs, production costs, direct mail/street team/radio promotion costs… along with the number of albums that you’re producing for sale and their pressing costs. With all that, you’ll see how many albums you need to sell at retail or at wholesale to break even.
There’s also the MUSIC INDUSTRY GIG CALCULATOR, which asks you to fill out your travel expenses, door charges, food, merchandise sales, hired staff, venue fees, equipment rental costs, and even more promotional numbers to determine what your net profit and loss would be for a given gig setup.
Maybe you’ll need to not have as much on your concert rider. Maybe you’ll have to cart your own road cases up the ramp instead of hiring a roadie. If there’s any fat in your expenses, this music calculator should be able to help you break even or make some money earlier in your budding career.