Math is a musician's friend!

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zahidseo
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Joined: Mon Jan 24, 2022 3:07 am

Math is a musician's friend!

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Guest article by Canadian entertainment lawyer Byron PascoeWell, math should be a musician's best friend. Unfortunately, like many people, some musicians are afraid of math. This fear ends NOW…or at least at the end of this article. Be excited.“Knowing math, like knowing literally ANYTHING, is empowering. The truth is that a career in music is as much about business as it is about art itself. And business acumen involves a degree of math, period ,” says Vanessa Vakharia , Founder/CEO of The Math Guru, who is also a founding member of Goodnight, Sunrise, an indie rock band from Toronto.Numbers are everywhere in music, both on the creative side of music creation, and on the business side.“We have this whole obsession with categorization. C级执行名单 We are obsessed with the idea that there is an "artistic" person and vice versa a "math" person, and that the two are rarely able to coexist. But that's all BS. We are just people, capable of learning and mastering absolutely anything. A successful musician doesn't need to be able to solve quadratic equations. But going into the music business (yes, business!) with an attitude that the math is to be feared just doesn't make sense! Vanessa exclaims.When Vanessa and her band Goodnight, Sunrise had the opportunity to open for Bon Jovi at the Air Canada Centre, I worked with Vanessa and her bandmate Dave Kochberg to calculate the SOCAN royalties that would be paid to them for the opening of the show.

These are the kind of numbers you want to add![18 Ways Musicians Can Make Money]"Mathematics is used to calculate SOCAN royalties, to decide whether to fly west to tour or rent a motorhome, to decide which shows to take and what to say no to, to deciding how much to invest in recordings...the list goes on. Many musicians have been called "creative" early on and therefore think they can't "do" math. But the truth is, all it takes to really understand the industry is simple, basic math – and any freelance artist can do that! confirms Vanessa.

Vanessa started the list and here are some more examples:CommissionsPaying someone 15%, from a manager to a post admin, makes more sense when you know which revenue streams need to be added and then multiplied by 15%.Recoverable expenses If you're a producer and you're being asked to have your fees recoverable, do the math to see how many music and license sales need to be generated before you start getting paid, whether 0%, 50%, or 100% your fees are recoverable. You can then use this information to negotiate a more reasonable set of terms. Pay producers If you're an artist and the producer you hire wants to be paid half upfront and half on delivery, calculate your cash flow to make sure you have the ability to pay.If you need to stagger payments to make sure you have the money, offer something reasonable that matches your ability to pay the producer. Consider all of your income and expenses, including when you get paid and when other payments (including rent) are due.[Negotiating a Music Producer Deal: 7 Key Questions]Calculating the time between reportsIf your distributor or publisher has promised you reports every six months, for example, plan your payment commitments to others accordingly.

Try to reduce the time between intercourse. If you get a report every month, you're in a much better position from a cash flow perspective once the payments become stable.advancesLet's say you hired an artist to be a featured artist on your recording. You've agreed that she's entitled to a percentage of your master royalties, and she wants an advance. If you want to give her an advance, you can work out what you realistically think she'll receive and make sure that the advance you give her doesn't exceed the royalties you expect to pay her over time.
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