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Wednesday, July 14, 2010

The Music Industry's Funny Money

Still think a music career is an easy path to a blinged-out life? Don't believe the hype. A whole lot of folks have to get paid before the musician does. The Root traces the money trail.


From: http://www.theroot.com/

If you thought the life of most musicians was comparable to the blissful and blinged-out existences of Kanye and Rihanna, you've clearly not heard much about our ever-desiccating music industry. According to the latest Nielsen research, only 2.1 percent of the albums released in 2009 sold even 5,000 copies -- that's just 2,050 records out of nearly 100,000, and to fewer people than go to a small liberal arts college.

As if that weren't bad enough, even the bands who do move units end up paying through the nose, mouth, eyes and ears for management, legal fees, producers and other expenses, leaving most of them scrounging to pay for record advances and, if they can afford it, health care.

From the outside, it often sounds fun to be in a band. But before picking up that guitar or microphone, take a look at where the money from a record goes.(Scroll down to continue)

*Calculator: Find Out How Much You'd Make as a Musician*

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