Members Gone90 Posted January 14, 2011 Members Posted January 14, 2011 In April, on my 21st birthday I'm inheriting $500,000 from my grandma...I've got a pretty small fanbase (14000+ suscribers on Youtube) but I want to use $100,000 to release a proper single with major label like backing...I'm not sure where to start though. I'm a pop singer btw...thanks in advance for any help.
Members zuzz Posted January 14, 2011 Members Posted January 14, 2011 $500,000 x 2% in a savings account = $10,000 a year in interest. Save your money.
Members BlueStrat Posted January 14, 2011 Members Posted January 14, 2011 In April, on my 21st birthday I'm inheriting $500,000 from my grandma...I've got a pretty small fanbase (14000+ suscribers on Youtube) but I want to use $100,000 to release a proper single with major label like backing...I'm not sure where to start though.I'm a pop singer btw...thanks in advance for any help. Ha ha ha ha! Tell you what. Give me that 100k. I'll at least get something for it.
Members DukeOfBoom Posted January 15, 2011 Members Posted January 15, 2011 my local DJ, he'll play your music. he doesn't care about money though, he just gotta slip him a joint. it's a noncorporate radio station. the point i'm tryin to make is that greasing a few palms will probably get you more publicity that paying a "self-appointed publicity expert" to do it for you.
Members JonChorba Posted January 15, 2011 Members Posted January 15, 2011 In April, on my 21st birthday I'm inheriting $500,000 from my grandma...I've got a pretty small fanbase (14000+ suscribers on Youtube) but I want to use $100,000 to release a proper single with major label like backing...I'm not sure where to start though.I'm a pop singer btw...thanks in advance for any help. You have been given a great opportunity by being given this money. The advice I'm about to give you is music related but not at the surface. Go buy the book "Multiple Streams of Income" and study it before you do anything with that money. Once you understand the power you have just been given, then start researching how to push your music with your own financial backing.
Members flatfinger Posted January 15, 2011 Members Posted January 15, 2011 Here's how to make a million dollars in the music buisness.................. Start with two million. .
Moderators daddymack Posted January 15, 2011 Moderators Posted January 15, 2011 In all seriousness, I would suggest that if you have a following, and have that kind of cash...put the bulk of the money into buying repos right now, and shoot a great video of your best original song and get it on youtube and then hire people to blog about it, hype it, etc...viral marketing can work...it just has to be visible at a number of levels... for 100 grand, I would offer my services to you for six months to over-see the campaign...but there are no guarantees.
Members larrybud Posted February 5, 2011 Members Posted February 5, 2011 You need to hire a trusted financial adviser before you spend 1 cent of that money, regardless if you're the next big thing or can't whistle a note. $500k for most people is a shock, very close to winning the lottery, and if you have crappy financial habits right now, it might as well be 5 dollars instead of 500,000. A LOT of lottery winners end up broke, and for you, being only 21, doing the right thing with that money right now could set you FOR LIFE. Think about that, a prospect where you wouldn't have one financial worry for the next 60 or so years. Not many people can say that. So slow down and do the right thing.
Members Johnny-Boy Posted February 5, 2011 Members Posted February 5, 2011 According to the Recording Industry Association of America (RIAA), approximately 90% of the records that are released by major recording labels fail to make a profit. Risky business. That being said, if you don't take a shot at it while you have the monetary gift, you'll be saying in your Golden Years, "I should have", "I could have been", etc, etc... John
Members BlueStrat Posted February 6, 2011 Members Posted February 6, 2011 According to the Recording Industry Association of America (RIAA), approximately 90% of the records that are released by major recording labels fail to make a profit. Risky business. That being said, if you don't take a shot at it while you have the monetary gift, you'll be saying in your Golden Years, "I should have", "I could have been", etc, etc...John True...but he could just as well be sitting there in the Golden Years kicking himself saying "I shouldn't have," "I wish I hadn't", etc. That's a lot of money to throw away on what amounts to lottery tickets, except the lottery tickets are more likely to pay at least something. In music, the little details can make the difference between, say, Michael Jackson and Tito Jackson. Add the fact that if no one is already buying your music, and you aren't creating a buzz, no amount of money in the world is going to help much. It can help sell a great product,but it can't create one that isn't already there.
Members Johnny-Boy Posted February 6, 2011 Members Posted February 6, 2011 "True...but he could just as well be sitting there in the Golden Years kicking himself saying "I shouldn't have," "I wish I hadn't", etc." - BlueStrat Especially if he's out on the street with no roof over his head in his Golden Years. All and all... I think I'd rather be saying "I went for it!". Besides, he may not live that far into his Golden Years anyway. Good luck, John
Members MVP Loops Posted February 22, 2011 Members Posted February 22, 2011 Do you have to pay taxes on that inheritance? Then you only really have about 350k. I never heard your music and you might be the next best thing but it's not an easy business to make money in. i agree with Larrybud. Go sit with a financial advisor before you do anything with that money.
Members RipVanWinkle Posted February 22, 2011 Members Posted February 22, 2011 Of course, a guy with one post coming in with a story like this makes me question the validity of his initial question
Members [Animals2] Posted February 23, 2011 Members Posted February 23, 2011 Of course, a guy with one post coming in with a story like this makes me question the validity of his initial question His claim of 14,000 subscribers on you tube is what gave it away. I'd believe he was inheriting $500 million before I believed that.
Members Khem1cal Posted February 23, 2011 Members Posted February 23, 2011 If you need 100K to promote a song, it's probably a {censored} song to begin with.
Members flatfinger Posted February 23, 2011 Members Posted February 23, 2011 If you need 100K to promote a song, it's probably a {censored} song to begin with. +1 nailed it ! The formulites are absolutely being righteous in telling to OP to think again ..... Some of the old timers from the old label days could tell you about many a record that had critical acclaim and plenty of promotion ( back when promotion was a much more straight-forward proposition !) and the record STILL went NOWHERE. You have the opportunity to not have to work full time whilst pursuing the craft ..... Don't blow it by thinking you can spend your way into a hit !!
Members frankthomson Posted February 23, 2011 Members Posted February 23, 2011 yep, build a better mousetrap and the world will beat a path to ur door. mousetrap = songworld = music industry if u wanna spend $, spend like $10k, NOT $100K
Members Grubgoat Posted February 23, 2011 Members Posted February 23, 2011 Look at a guy like Jay-Z. He's basically telling you he did his bad stuff, got LOTS of capital, and from there began to put that money and time into Roc-A-Fella records and being a rapper. If his lyrics are to be trusted, he made $1 Million dollars first. This would have allowed him LOTS of advantages that most of us working folk cannot access. He doesn't have to go to work every day like we do, he doesn't have to worry where the rent is coming from, or the kids school clothes, or whatever. He also could afford the media campaigns you guys all talk about, afford to travel at a moment's notice, ride out dry spells, etc. This is capitalism. Get the capital first, then start spreading out like a virus. So take that money, that $500,000 as a whole, and do as these guys are saying and MAKE MORE OF IT, THEN start putting the money to work. If you're on your game and you really know what you want to do, and how to do it etc., by the time you're 28 or so you might well be able to pull it off and be a "star". If you're financially able to pursue your career and not really need any money to live on, and you are able to do that for 10 years and have great material, eventually people are going to see things your way.
Members Disco Cat Posted March 3, 2011 Members Posted March 3, 2011 Of course, a guy with one post coming in with a story like this makes me question the validity of his initial question He could be another forum member that doesn't want to let people know that he's getting $500,000 and so made an alt. I wouldn't broadcast that.
Moderators daddymack Posted March 3, 2011 Moderators Posted March 3, 2011 if he is smart enough to hide his true identity, he would be smart enough to know what to do with his $...I'm jus'sayin'...
Members richardmac Posted March 3, 2011 Members Posted March 3, 2011 I'd pay real money for this thread to just go away...Darn! I just extended it.
Members Poker99 Posted March 3, 2011 Members Posted March 3, 2011 Reminds me of the "WATCH ME SELL 1 MILLION ALBUMS" thread lol
Members richardmac Posted March 3, 2011 Members Posted March 3, 2011 Yeah, I forgot about that thread. That was an instant classic.
Moderators daddymack Posted March 4, 2011 Moderators Posted March 4, 2011 I'd pay real money for this thread to just go away... Darn! I just extended it. How much?
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