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Pete's $1m question

Discussion in 'Off Topic [BG]' started by Peter Squire, Jan 17, 2006.


  1. Heya

    So, your band gets signed for a $1m contract. What do you spend your newly found money on?
     
  2. Every band members dream rig/setup
     
  3. Hookers and coke (I imagine they'll get thirsty).

    Mike
     
  4. funny you mention that... i tried to snort coke after a gig once with the groupies... but the ice blocks got stuck in my nose......






    HA........HA.......... OH......... SO............ FUNNY :meh:
     
  5. BurningSkies

    BurningSkies CRAZY BALDHEAD

    Feb 20, 2005
    Seweracuse, NY
    Nothing?

    The million is an advance, and if the album tanks we'll be expected to pay back all of the $$$, as that's what the company spent on overpriced studio time and advertising.

    Or maybe I put the cash in a low risk investment fund for a year or so in hopes of making a bit of change on the principle before I have to give it back to the record company?

    Yeah, I know...it's not much fun, but definitely more real world than hookers and drugs.
     
  6. Dan1099

    Dan1099 Dumbing My Process Down

    Aug 7, 2004
    Michigan
    I'd buy a house. Nothing fancy, just a nice, humble place with some land, and lots of trees.
     
  7. bannedwit

    bannedwit

    May 9, 2005
    Buffalo, NY
    Dodge Viper and more bass gear
     
  8. SuperDuck

    SuperDuck

    Sep 26, 2000
    Wisconsin
    A house for my folks, a house for myself, a sweet car (like a WRX STi), and the rest goes into savings.
     
  9. A pickup truck that can fit the equipment that I'm going to buy plus the new basses :)
     
  10. baba

    baba Supporting Member

    Jan 22, 2002
    3rd stone from the sun
    Must be cheap housing in your neck of the woods. Once I split the money between band members and pay taxes I can't even pay for one house.
     
  11. fr0me0

    fr0me0

    Dec 7, 2004
    Winnipeg Canada
    The first thing I'd get would have to be sleeves.

    assuming i'd be touring and stuff I'd invest the rest. look for places to live when I got off tour
     
  12. deaf pea

    deaf pea

    Mar 24, 2005
    Cuernavaca 1 hr S Mexico City
    Seymour Duncan/Basslines SMB-5A Endorsing Artist
    To be more real . . .
    1. Recording costs - studio rental, equipment rentals, engineer(s), producer(s), mastering. etc.
    2. manufacturing costs - graphic design, color separations, printing, CD replication, etc
    3. Video(s) - director, locations, equipment rentals, post production, DVD, i/2" U-matic, D2 and/or VHS duplication
    4. Promotion costs - complimentary CD's, magazine and TV ads, payola, etc

    Have I left anything out?

    oh yeah, 5. Tour support . . . (we all hope for at least SOME!)

    And remember, it's probably ALL re-coupale, which means you have to pay it all back . . . and you STILL don't own the masters (or, for that matter, the "products")
     
  13. MJ5150

    MJ5150 Terrific Twister

    Apr 12, 2001
    Lacey, WA
    A new Nike SasQuatch driver, and a set of Slingshot hybrid irons.

    -Mike
     
  14. SuperDuck

    SuperDuck

    Sep 26, 2000
    Wisconsin
    Split?! I thought we each got $1 million. :D
     
  15. An amp, tattoos, some grass(okay, lots of grass) and try to save the rest.
     
  16. Dan1099

    Dan1099 Dumbing My Process Down

    Aug 7, 2004
    Michigan
    Recoupable means that you have to pay it back out of your record sales, not out of your pocket. The 1 million dollar advance is recoupable, as well. Let's put it this way.

    1 million dollar advance
    1.5 million dollars in recording
    1 million in promotion, misc.
    500,000 in mastering.
    -----------------------

    4 million dollars.

    This means that the first 4 million the band would make from record sales would go to pay this back. If you don't make 4 million dollars on the album, it's not like they send you a bill for the remainder. They just roll it over into the next album.

    In other words, that 1 million dollars might be the only money you ever see from them, so spend it wisely, but don't be afraid to spend it.
     
  17. Peter, are we talking $1 million AU or $1 milliion US. The US dollar ain't worth much these days, but at least I could still buy a night on the town. Not sure that $1 million Australian would buy me a cup of coffee.
     
  18. Exchange it for the billion or so pennies and buy an expensive rig at GC.
     
  19. mrpackerguy

    mrpackerguy Supporting Member

    Jul 3, 2004
    Madison, Wisconsin
    A safe investment until you know whether you pay the $$ back. Get your "moneys worth" out of the money.