IFPI: $1 million for an artist to enter the “consciousness of the global public”

IFPI: $1 million for an artist to enter the "consciousness of the global public"

Ever wonder what it takes to go from this to this this?

Welp, about $1 million, according to the International Federation of the Phonographic Industry (LOL @ the laughably aged name). During a recent press conference, John Kennedy, the chairman of the IFPI, challenged anyone to name a new act that has broken through to become a major success without the support of a label. Well, Johnny, if you consider the relative profitability of an artist who invests almost nothing financially, who relies solely on live performance, hard work, and good old-fashioned word of mouth, then there are quite a few successes! However, you just might be right if you are speaking in more worldly and financial terms.

Heres how that million breaks down:

Advance - $200,000
Recording - $200,000
Three videos - $200,000
Tour support - $100,000
Promotion and marketing - $300,000

Kennedy admits that the $1 million is a conservative number and that it’s closer to $2 million for jazz and classical artists. Plus, that initial million-dollar expenditure is not a guarantee of profitability, but rather a risky investment in an effort to get the artist on the charts. Once on the charts, profitability is almost a guarantee for future releases, but in his words, “It takes a long time to enter the consciousness of the global public”.

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