Tag: music school


Jazz Musicians and Money from Music

Posted on 13th June, by Jean Cook in What We're Learning. 4 Comments

This data memo presents a snapshot of nearly 900 jazz musicians who participated in the Money from Music Survey in 2011, the first comprehensive assessment of jazz musicians in the US since “Changing the Beat.” After presenting basic demographic information, this memo provides data about jazz musician’s experience, income, and feelings about technology, and also compares the jazz population to survey takers from other genres. This memo also takes a closer look at the differences between jazz musicians who are members of the American Federation of Musicians (AFM) and those who are not, and the relationship that AFM membership has with income.


Case Study: Jazz Bandleader-Composer

Posted on 15th March, by Jean Cook in Financial Case Studies, Participant Data. 6 Comments

Like many entrepreneurial small businesses, his net income fluctuates widely from year to year. Anecdotally, his gross income appears to roughly track with the growth of his reputation during this period.

When looking at his gross income, we see that live performance as a leader makes up 77.8% of his income. In addition to his work as a leader, he also earns a steady income each year as a composer, sideman, and teacher.

When looking at his net v gross, Jazz Bandleader’s expenses are high – 80% of his income goes to pay touring expenses, sidemen, managers fees and other expenses. But he is still profits from touring. His net recording income fluctuates from year to year. Some years he loses money on recording. From 2006-2011 he nets a modest recording income.

Examining the artist’s gross income by role reinforces that his recording money fluctuates depending on what years he receives record advances. We also see that roughly 8% of his income is initiated by someone other than the Jazz Bandleader or his team.

Looking at gross income by territory, we see that he is dependent on non US markets for about 44% of his performance income.

We see a similar trend in his PRO Royalties breakdown by territory, that non-US royalties are a significant portion of his PRO royalty income. When looking at his income by album, we see that his compositions continue to earn money for years after the records are released.


Case Study: Contemporary Chamber Ensemble

Posted on 15th March, by Jean Cook in Financial Case Studies, Participant Data. 2 Comments

Looking at the gross income, we see that 95.4% of the Ensemble’s gross income comes from live performance fees. They retain a professional manager in 2004, and their touring income more than doubles by 2005.

When taking expenses into account, we learn that though their gross income fluctuates from year to year, their net profit is steadily increasing. We also see that while their records are doing very well for classical music and have recouped, the Ensemble does not rely in this income at all (0.1% of their 2002-2010 income is from record royalties paid by a label) and instead treats recordings as marketing for the ensemble.

We reflect on the classical music marketplace, which is distinct from other markets. Their situation is similar to Professional Orchestra Player’s in that they are highly skilled musicians that are usually paid a relatively high wage in an extremely competitive marketplace.


Case Study: Professional Orchestra Player

Posted on 15th March, by Kristin Thomson in Financial Case Studies, Participant Data. 3 Comments

After years of training and competing, the Artist has won a coveted seat as a salaried player in a major symphony orchestra – a position that includes health insurance and a pension. His income fluctuates until he wins the seat in the symphony. At that point, his income will be stable as long as he is with the orchestra.

Classically-trained professional musicians have only a few expenses – education and instruments being one of the top ones – but these expenses can be significant and usually cannot be avoided. They function in an unusual economy where musical instruments can sometimes be a significant investment and are often loaned or bequeathed because of their extreme cost.

Professional Orchestra Players are often not composers, and do not participate in a significant way in many copyright-related income streams. They rely on the unions to help them collect the few and various “background musician” royalties they are entitled to.

We also reflect on the extremely competitive nature of this line of work. Mentorship can sometimes play a large role in helping a young player navigate this competitive terrain.


Going to Music School

Posted on 12th January, by Jean Cook in What We're Learning. 5 Comments

The FMC team spent some time with the Network of Music Career Development Officers at their annual meeting on Thursday, January 11, 2012 at the Manhattan School of Music in New York City.  Here are some slides from our presentation, which look at some of the survey results with respect to conservatory and music school graduates.

In this presentation we looked at the characteristics of the 2,728 musicians and composers who said they graduated from a conservatory of music school.  The top regions for this group were New York, Boston, Washington DC, Long Beach/LA, San Francisco, Denver, Chicago, Detroit, Madison, Minneapolis, Nashville, Cincinnati, Atlanta, Dallas/Fort Worth and Rochester.

 

We found that music school or conservatory graduates were more likely to be earning more, working more, and were more likely to have … Read More »