Do You Have A Budget? Only Jesus Can Turn Water To Wine, We Use Grapes….
Welcome to this week’s Blonde Intelligence with me, Ms. Roni, where I always seek to give you exquisite cranial repertoire. This week I want to touch on creating a budget when starting a music project. A realistic budget when working in music is essential and some independents are missing the mark in this area. Everyone does not get a record label advance. Having a small budget does not mean you can’t yield success; it means you have to exert more sweat equity into your project. So, in essence you are either going to save towards your budget or put the equity in yourself towards a successful project.
Let’s start out with the definition of a budget. A budget consists of allowance or specific amount of money to be applied to set operational costs. According to the Music Biz Academy, artist expenses to include in your budget are recording fees, graphic designing fees, marketing, publicity, promo, equipment costs, songwriter and registration fees, business team costs, taxes, merchandising, and so on. Weibe suggests that because tracks have to be mixed and mastered, and money has to be left over to properly market the release, working backwards can help you determine how much money you will need. Note he said to properly market the release. Not drop it on YouTube and call it a release, cause that is not a release…..moving on.