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#Post#: 22--------------------------------------------------
Revenue
DIR By: Initiation
Date: August 3, 2015, 5:44 am
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For now, all revenue generated via Spotify, iTunes (both to be
set up soon) as well as Bandcamp and Beatport are to be stored
in a paypal account owned by all members of the label. Everyone
has public access to this account but this is given trust that
misuse of money will not occur. We require someone to set this
up. All generated revenue will, currently, go to helping the
label grow, such as getting SoundCloud Pro Unlimited, or
anything else. If you disagree, please comment so and it will be
fine with us. We just want the label to have some money to grow.
Bandcamp itself costs money to set up so we will have to earn
some money from Spotify/iTunes first before we can set up
Bandcamp (label). Beatport is kind of complicated and that will
need some work. The only other alternative for us to get premium
accounts etc. is to have everyone pool in some money, but this
is not always possible for everyone so this will need some
consideration.
For now, I think we should get a routenote for the collective
and set up an iTunes and Spotify. Drew will be management guy
for this stuff cos he uses RouteNote a lot and thus knows a bit
more about iTunes and Spotify. Prices for each song on Bandcamp,
Beatport, iTunes and Spotify will all be $0.99USD+ (Bandcamp as
far as I'm concerned allows you to pay more than $1 if you want,
maybe to support the artist) and we can make some money to in
turn get Bandcamp etc.
So this is the order in which I hope to get things set up.
1. Drew sets up RouteNote, allowing iTunes and Spotify. All
songs will be uploaded there with art, and prices set.
2. Hopefully with some money, we will be able to buy Bandcamp
label. Someone with the patience can set up Beatport. More money
sources.
3. Save up for SoundCloud Pro Unlimited.
4. Every year we will reach the amount of money first (to pay
off things like SC and Bandcamp which is around 150 and 50
dollars a year respectively if my memory proves correct) and
then we will collect the money until the end of the year. After
paying off for accounts etc. the money will be evenly
distributed to all artists depending on the number of releases.
Note: this may be changed so that all artists receive same
amount regardless of releases, but this will need to be also
considered.
5. When we get enough money so that paying off SC and BC is no
issue, we will start giving full revenue to artists (ie. if a
song earns $10 from Beatport we will give that $10 to the
artist.) However, as labels function, when we get a management
team we will need those people to earn money too, so it will
probably be split 50-50 between the artist and management.
People like graphics artists also need a living!
And that sums it up for our money. I don't really like dealing
with money because it's something that can cause much trouble,
but as I said, artist revenue will not come in until much much
later, if at all. The main issue being discussed in this is that
our label needs collective money to buy above said things. I
highly doubt that any of us will request money unless we rely on
it as a job until we find another one or whatever our plans are,
but in the event that some of us do, we will discuss it then.
Currently, because we are mostly living off our parents but
earning some more money from other jobs to buy things for our
music production, artist revenue is very little and quite
unnecessary. However, the money in the label funds serves a
great purpose.
For the second time, this will do.
Thanks.
#Post#: 31--------------------------------------------------
Re: Revenue
DIR By: Initiation
Date: August 8, 2015, 6:44 am
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I will also be streaming and I know some others will be too. If
you can get yourself a twitch subscription service and get
people to pay for you if you get more popular, that will also be
a great source of money. :)
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