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Wow, just met a young guy making £9k profit per month from EDM.
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| Richard Butler |
In my day job I own a business whereby I find people difficult to get hold of finance, for example to buy a business or a run down house.
Just had a call from a 25 yo guy making £9k per month (he's recommended to me by my Accountant so this is straight up).
He went on to say he makes it from selling music.
My ears pricked up.
What type of music I asked - dubstep and most other EDM + kareoke he replied.
I wanted to know how the heck this laid back easy going young dude is making so much.
So here's what I found out;
+ Various ghost producers in low wage foreign nations produce the tracks, literally churning them out like sausages
+ He is like a hub and offers them smallish royalties which he says they are content with
+ He then in turn packages up everything like the artwork and artist names, the whole shebang and markets them through all usual digital platforms (he tried his own website and said it was a fail)
+ He now has around 14000 tracks out there and the royalties (which my Accountant has confirmed to me are correct) are £9k per month and building by about £1k per month
He said I-tunes et al take a big cut, but none the less his after costs profit is £9k per month
Any thoughts? This is not bull I've never lied and would not see the point in doing a wind up. |
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| tehlord |
So he averages 65p per track per month?
Seems legit.
Is the £9k per month pre or post costs? Who does all the artwork for those 14,000 tracks etc? |
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| cryophonik |
| quote: |
+ He now has around 14000 tracks out there... |
Bull. There's no way in hell that a 25-yo has produced and sold 14000 tracks. Let's just say that, on average, he spends 8 hours per track (which is a VERY conservative estimate for somebody selling music, handling the marketing, artwork, etc.). That would equate to 112,000 hours, or 12.8 years of straight time spent doing nothing but producing music - no sleep, no eating, no social life etc. And that would only include the ones that he supposedly sold. Even being somewhat realistic about it and assuming that you perhaps meant to write 1400, there's still no way that a 25-yo has produced and sold that many. Watch it, Richard, or some Nigerian prince is going to get rich off you. :toothless |
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| Richard Butler |
| quote: | Originally posted by cryophonik
Bull. There's no way in hell that a 25-yo has produced and sold 14000 tracks. Let's just say that, on average, he spends 8 hours per track (which is a VERY conservative estimate for somebody selling music, handling the marketing, artwork, etc.), that would equate to 112,000 hours (or 12.8 years of straight time spent doing nothing but producing music - no sleep, no eating, no social life) of time spent producing, and that would only include the ones that he supposedly sold. |
No read again, he produces nothing at all.
I've seen the draft accounts and receipts, it all look legit.
He's some sort of super networker that has this army of cheap producers banging tracks out which he then sticks on the various platforms with a bit of artwork and says he now has a total of 14,000 out there.
The producers are all ghost.
I'd imagine he has a pretty slick pinned down process for banging out the art and getting the tracks onto platforms.
I have a huge bull detector, and yep something doesn't seem right here, but so far I can't see he's told me any lies, all looks legit. |
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| Richard Butler |
| quote: | Originally posted by tehlord
So he averages 65p per track per month?
Seems legit.
Is the £9k per month pre or post costs? Who does all the artwork for those 14,000 tracks etc? |
He says he does everything, and it's all from his damned bedroom!
The £9k is post costs, although I haven't seen the full non draft accounts yet.
His Bank statements show broadly a £9k profit which seems to be rising about £1k per month. |
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| tehlord |
| The money way well come from the karaoke stuff, licensing and . If he networks that well and has the sheer volume on the game/tv licencing sites then £9k per month isn't that hard to believe. |
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| cryophonik |
| quote: | Originally posted by Richard Butler
No read again, he produces nothing at all.
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OK, my bad. That's *more* believable, but I think your BS detector is probably on the right track. Getting 14K tracks "out there" (i.e., even just promotion, artwork) is a substantial amount of work, I'm sure. |
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| Richard Butler |
| quote: | Originally posted by cryophonik
OK, my bad. That's *more* believable, but I think your BS detector is probably on the right track. Getting 14K tracks "out there" (i.e., even just promotion, artwork) is a substantial amount of work, I'm sure. |
Could be some bull in there but he comes across like Steve Duda, very straight forward and quietly confident - the sort that does anything on a computer 3 x quicker than normal if you get me. Not flash, not bragging.
I deal mainly with business owners and all too often they got rich by finding some little niche all their own that everyone else thought would not possibly work. One super rich dude made a pile out of selling ridiculous wizards online, Ouija boards and wands that sort of thing. |
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| Viber |
I don't think you comprehend how many tracks are 14,000 tracks, its pretty much like having your name on EVERY Trance track released between 1999-2006.
I'm sorry but i'll respectfully call bull.
If you look real hard he is probably the co-creator of Silk Road. |
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| tehlord |
| I think you guys are missing the point here. If he's putting music up on library and licensing sites then the 'tracks' may well be 2-3 minutes long. I know guys that do this for a living and they do 5-10 cues per week, on a slow week. 1500 tracks over a 3 year period is fairly normal. Now if this guy is 'subbing' this work out to 20-30 guys, the numbers start to add up fast. |
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| cryophonik |
| quote: | Originally posted by tehlord
I think you guys are missing the point here. If he's putting music up on library and licensing sites then the 'tracks' may well be 2-3 minutes long. I know guys that do this for a living and they do 5-10 cues per week, on a slow week. 1500 tracks over a 3 year period is fairly normal. Now if this guy is 'subbing' this work out to 20-30 guys, the numbers start to add up fast. |
I'm not saying that it's impossible, I'm just saying that the 14K number is not very believable. 1500 tracks over a three-year period is believable - 9 times that number isn't IMO. That said, it doesn't surprise me that there are 20-somethings raking in six figures from EDM, karaoke, etc., I'm just pretty sure that the 14K number is a gross exaggeration.
But, what the hell do I know. I'm just glad somebody's making money off our music while I'm trying to decide if I should replace my noisy MOTU interface with an RME or and Apollo for my hobby studio/money pit. |
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| Raphie |
Let's say he has been doing this for 3 years, now managing 14k tracks
Let's say he works 48 weeks a year.
That means he pushed out 14000/3/48
=97 tracks a week, every week.....no way....
Maybe he sells dope with it? |
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