Unless your personal budgets are stretched to the max, you should each be able to save $200 per month, for a total of $600 per month (you may need to cut down on some expenses to make this happen). We'll say that there are three members in your band, and you each make about $2,000 per month in your day jobs or freelance work.ġ0% of $2,000 is $200. But let's do the math, just so you can see how the numbers come together. The most obvious and reliable method is to save. The bad news is that you now have to figure out a way to get the money you need. If you've worked backwards to figure out the total cost of your music project, it means that you have a concrete goal to work towards. This is the part I'm sure you've all been waiting for, though I will say in advance that getting the money you need isn't necessarily easy. How To Get The Money You Need For Your Music Project There are some aspects to recording you can't control, but preparedness is one you can. You can still take the time to do it right without rushing, but if you have to practice your parts in the studio, you're going to rack up unwanted expenses. If you can direct your engineer in terms of what mics and effects you want to use, what distance to mic from, etc., you'll also waste less time in setup. You can dramatically reduce the amount of time spent in the studio (and therefore any costs attached to it) by practicing your parts really well, and coming prepared with the right sounds (guitar tones, keyboard patches, effects, etc.). Some professional bands go through the entire recording process in a studio (from pre-production to mixing), but realize that they may have access to resources you don't have as an independent artist: funding from a label, a professional home studio, a friend that's willing to engineer the album for pizza and beer, a rich uncle… you get the idea. The faster you can lay down your tracks and get out of the studio, the less time you're going to have to pay for. Prepare Well For Your Studio Recording Sessions And Save You could also try a budgeting app if you feel it would help. ![]() ![]() Make sure you're dealing with real numbers. Find out how much the videographer is going to charge. Talk to the engineer or the studio owner. I would also recommend double-checking your numbers instead of leaving it to chance. So if you've determined that the total cost of your album would be $7,000, you'd want to save at least $7,700. But I would suggest adding at least 10% to the estimate, as having some flex in your margin is always a good idea. Once you've arrived at an estimated total, you'll know how much you need to save. This is a hypothetical breakdown, but the cost of your music project is likely to be in the same ballpark, give or take $2,000 – $3,000. Marketing: $500 (for a video and Facebook ad campaigns). Studio time: $5,000 (could be more, could be less – includes engineer, producer and mixing). Pre-production: $100 (for strings, picks, sticks, drum heads, maybe a new piece of software if needed). ![]() Your breakdown might look something like this: ![]() You know that you want to record 12 tracks, get them professionally mixed and mastered, and have money left over to properly market the release. We'll say, for example, that you want to record a new album. Work Backwards From Your End Goal To Determine The Amount Of Money You Need For Your Album Or Project Plus, without a really well-executed plan, you're not going to be able to pay back your debt for months or even years to come.ĭebt should be considered a last resort, if that. Unless you're in a major hurry, or have a really good reason to believe that you're going to make a significant return on your investment, credit debt and loans are plagues that eat away at your confidence, steal valuable mind-space, and force you to be money-driven in all of the decisions you make. How To Get The Money You Need For Your Music ProjectĬan we all agree that going into debt is really the worst way to fund a music project?.Prepare Well For Your Studio Recording Sessions And Save.Work Backwards From Your End Goal To Determine The Amount Of Money You Need For Your Album Or Project.
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