By Bobby Owsinski on Music 3.0 Blog
The latestIFPI (International Federation of the Phonograph Industry - boy, is that name outdated) recently came out with a report about the state of the music industry and a few of the elements that were analyzed included how much the major labels spent on developing new acts.
Here are some interesting figures.
Finally, there are 7,500 artists signed to major labels around the world. One in 5 is a new signing.
Most artists today really like the DIY aspect of building their career, but there's nothing like the monetary clout of a large label.
The latest
Here are some interesting figures.
- The cost of breaking an act is between $500k and $1 million.
- The typical advance averages between $50k and $350k
- Typical album recording costs are between $150k and $500k.
- The typical video production goes from between $50k to $300k.
- Tour support is between $50k and $150k.
- Typical marketing and promotional costs are between $200k to $700k.
Finally, there are 7,500 artists signed to major labels around the world. One in 5 is a new signing.
Most artists today really like the DIY aspect of building their career, but there's nothing like the monetary clout of a large label.
