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Whatís being a songwriter really like part 4!
Whatís going on in the music world around you? (deux)
6) Once my song gets placed, Iím gonna be instantly rich & famous!
Letís say you finally make it and get a placement. Some top level artist wants to cut your song
for their latest CD, or, some production company wants to use your song in a movie. Or maybe
even a TV commercial. You figure since youíve got a one song publishing deal, or a one song
licensing deal, not only are da dollars gonna be instantly rolling in, but so are the opportunities.
You imagine yourself ready to take that trip to Italy that you always wanted, and when
you come back, youíll be buying a 10 bedroom house in LA, and, of courseÖa new grill!
The truth is: Slow down there buddy!
Getting a song cut and released, even if you have a deal, is a hard thing to pull off.
Sometimes a song, even the songs that the artist likes the most, can sit in their managerís
office for years before being cut. And even if you get the song cut, thereís no guarantee
that it will be released; and even if it is released, thereís no guarantee of promotion,
or of the size of the promotional budget. Release dates can be changed, the label can
change their mind about which songs will be dropped first; sometimes a song thatís already
been cut is replaced before the full CD release. It can actually be years between the time
you write a song, and it getting cut, and if that song ever sees a huge public launch.
Also, your song may not be one of the more popular songs on the project; it may be birthed
and live its musical life in relative obscurity. And if weíre talking about film placement,
music is normally one of the last things that is decided upon; itís part of the post-production
process. Sometimes however, film editors or directors change their minds on scenes, they
might add reshoots, or need to recut the film for running time. Your song could be blazing
across the most popular scene!ÖorÖend up on the cutting room floor. You just never
know. Now, talking TV commercials, especially these
days, they really require boutique music. Either theyíre going to pay for a well known
track, or a previously unheard of song or artist has to fit their product & their brand
PERFECTLY. And companies tend to be very protective of their brand, and your song has to be a
perfect match. And speaking of moneyÖ..
7) When I get paid, I donít have to pay any taxes, right?
As writers, we often tend to think that when money comes, thatís the end of it. Weíre
independent contractors, and we earned it, so itís my money, right?
The truth is: First you need to watch this video on the
Seven Registrations Every Songwriter Must know; watch it right now! See? If you didnít
know all that, I can guarantee that you are leaving money on the table. Money out there
that is due you, that youíre not receiving. Iím gonna do a whole video later just focusing
on how songwriters get paid, but for now, remember the following tips:
Money Tip Number One: You SO have to pay taxes on whatever money
you earn, regardless of what type of income stream it is. So you have to keep meticulous
records. This is a business of pennies, nickels and dimes that add up over timeÖitís not
like punching a clock. And the big paychecks? Life changing money? The money that you think
is going to let you move to Beverly Hills and throw a party every weekend? You might
not EVER get a check like that. And if you do, it might only happen one time in your
entire career, I kid you not. Money Tip Number Two:
Each type of income stream has a different timetable. For example, licensing fees normally
get paid in a lump sum, and you have to split them with your publisher if you have a deal,
and with other writers if you didnít write the song all by yourself. Mechanical royalties
can show up sometimes monthly, sometimes annually, depending on how your music is distributed,
and who if anyone is covering it. Performance royalties, those are the checks that you get
when your song is played on the radio, well they normally come only twice a year, and
that again depends on how big the check is, and, which Performing Rights Organization
youíre signed with. Go watch this video about Performing Rights Organizations right now!
See?Itís a very complicated process, getting paid, and keeping track of all your pennies.
Advances can come at any time, although pretty much only the top writers get those any more.
And that advance can be as large or as small as the person offering you the advance wants
it to be. Then there are the labels and publishing companies
who will always try to get to use your music for free, after youíve gone through the time
and expense to create it. There was an excellent article on Facebook about this very thing;
Iíve posted the link below, and you should read it as soon as you finish watching this
video. It so perfectly encapsulates the experience I call the Freebie Dance.
Thatís it for my four part series, Whatís Being a Songwriter Really Like? Be sure to
check out parts 1, 2, and 3; itíll save you years of songwriting grief! Iíll see you
in the next video, and never. Stop. Writing.