I have produced a series of videos, based on the university module I teach about the live music business. This video is a description of concert touring income & costs.
In the last session, we examined our expectations of the live music business (to market the artist and that there will be a strategy to do that) and we also examined our assumptions.
One of those assumptions is that playing live is expensive.
This may or may not be true, and so today you shall consider the factors that cause expense to the artist when playing live, as well as the income playing live can generate.
It is important to bear in mind that the income and costs you examine today apply to the artist only – these have nothing to do with the promoter or venue.
You understand from the last session about the relationship in the live music business between the artist and artist manager. As part of their expectations, it will be agreed that a show or tour will go ahead (at this stage we are ignoring the role of the booking agent and promoter). You understand that one consideration is that the artist may make money from their live activity. There are several sources of income and the artist and artist manager should identify and capitalise on them if possible.