Does 1x Platinum album make you a millionaire?

[jrcp3]

Does going Platinum make you a millionaire?

Example: Souljah Boy's first Album went Platinum and sold over 1,000,000 .....

He is set for live off that one album just wondering how much everything works out too ..... anyone know?

[-primetime-]

[B]Hip-Hop

[jrcp3]

[QUOTE=-primetime-][B]Hip-Hop

[-primetime-]

Yea .... im just wondering how much they actually make in the there pockets from a platinum album ...... that list up there you have is all about rev in total .....
I know

I am sure it is totally different for every artist

they all have their own seperate deals

[jrcp3]

oh truee .... but i mean Ace Hood sells 35,000 " Gutta " Albums ..... is he RICH now?

[YAWN]

Does going Platinum make you a millionaire?

Example: Souljah Boy's first Album went Platinum and sold over 1,000,000 .....

He is set for live off that one album just wondering how much everything works out too ..... anyone know?

completely different for every single artist depending on their deal.

[Big One]

well even if they made $1 off of each album that would make them a million air, so im guessing even if there cut is at least a dollar they would be guaranteed millionaires, given that it goes platinum

[jrcp3]

well even if they made $1 off of each album that would make them a million air, so im guessing even if there cut is at least a dollar they would be guaranteed millionaires, given that it goes platinum

Yup true ..... Lil Wayne goes PLATINUM in 1 week ........... DAMN THIS GUY IS RICH !

[Gundress]

Just depend what kind of label are you on "Major Label" or "Indies Label"?

Major Label: You have to sign a contract, based on the budget

Indies Label: You don't have to sign a contract, you work for youself, budget on your own

Major Label: You can't decide the art-work and which tracks go on the CD.You can't decide your own recording and release schedules.

Indies Label: You decide the art-work and which tracks go on the CD. You decide your own recording and release schedules. If you make a profit you get to keep most of it yourself

For example:

Jimmy Lovine is the boss of "Interscope" aka Major Label

Aftermath, Shady, G-Unit, Geffen, etc are under "Interscope" Jimmy Lovine is the one decide whatever he wants to do, he will get most profit off of them. Just depend how much you spend on the budget, if your album went to 1x platinum album, it doesn't make you a millionaire.

If you on Indies Label and your album wnet to 1x platinum album, and you will get a lot of profit and yes..it does make you more than a millionaire.

[embersyc]

The way it works for most artist is this:

The record company lends you money to record an album, make a video, buy a house, live etc. So say you're video costs 1.5 million and your album costs a quarter million to make, and your probably in debt to the record company for over 2 million dollars. Whatever amount you get per album (depends heavily on your contract), but for a first time artist on a major label is most likely not even enough to recoup costs at a million copies. Most artists make their money off merchandise, touring, doing ads, side companies, etc.

[hito da god]

oh truee .... but i mean Ace Hood sells 35,000 " Gutta " Albums ..... is he RICH now?
depends on your deal and how much you contributed to your album. if you produce and write your entire album you'll get a lot more than if you only wrote and/or performed lyrics on an album. some artists get $2/album sold, others get as much as $7+.

[hito da god]

Just depend what kind of label are you on "Major Label" or "Indies Label"?

Major Label: You have to sign a contract, based on the budget

Indies Label: You don't have to sign a contract, you work for youself, budget on your own

Major Label: You can't decide the art-work and which tracks go on the CD.You can't decide your own recording and release schedules.

Indies Label: You decide the art-work and which tracks go on the CD. You decide your own recording and release schedules. If you make a profit you get to keep most of it yourself

For example:

Jimmy Lovine is the boss of "Interscope" aka Major Label

Aftermath, Shady, G-Unit, Geffen, etc are under "Interscope" Jimmy Lovine is the one decide whatever he wants to do, he will get most profit off of them. Just depend how much you spend on the budget, if your album went to 1x platinum album, it doesn't make you a millionaire.

If you on Indies Label and your album wnet to 1x platinum album, and you will get a lot of profit and yes..it does make you more than a millionaire.



The way it works for most artist is this:

The record company lends you money to record an album, make a video, buy a house, live etc. So say you're video costs 1.5 million and your album costs a quarter million to make, and your probably in debt to the record company for over 2 million dollars. Whatever amount you get per album (depends heavily on your contract), but for a first time artist on a major label is most likely not even enough to recoup costs at a million copies. Most artists make their money off merchandise, touring, doing ads, side companies, etc.
^^these two put it best.

[starface]

For example:

Jimmy Lovine

Iovine.

Pronounced "eye-oh-veeny"

[haterofhaters]

Not necessarily. Most rappers, especially those like Soulja boy who are new to the game and sign up new contracts receive a very small percentage of their album sales. The rest goes towards production, marketing, and those who worked on the album making beats, and other stuff like that. Most of the money is made on tour.

[monthh]

That is why you have seen so many rappers, especially from the South, sign major deals for millions right from the start. It is hard to know if they are being honest, but if some crappy rapper like Mike Jones can sell 25,000 albums in Houston for $5 each, he grosses $125,000. I would say that is a really low estimate since some of these guys are selling 25,000 to 50,000 for two or maybe 3 mixtapes each year. If a rapper has done this and has his name out their already, they can demand more money because the label will have to do less work. It probably evens out in the end either way, though.

Now if he signs for a major label and sells 500,000 then he may get $1,000,000, but the label will take most of that to recoup all the money they put into him. In the end, he probably makes a little more being on the major label and certainly opens himself up for ads and starting his own label and stuff, but some of these guys are rich just from selling and touring on their own.

And as some other people pointed out, some rappers are paying over a million on the production alone, plus songwriters and guest features. After you pay Kanye, Just Blaze, Swizz, and Cool and Dre for a beat each, plus your house producer for the other 10 beats, and then you pay Luda, Bun B, Wayne, and Game $25,000 each for a verse, you are already way behind.

But it really does depend on the contract. TLC had the top albums back in the '90's, but they were bankrupt. They had nice houses and cars and stuff from the advances, but they didn't actually have any money. Diddy did the same thing to the LOX. They left the label years and years ago, but for the longest time Diddy was getting a cut of any stuff they put out.

Of course if you go the indie route, you are in the studio at 2 in the morning because that is the only time you can afford, you are living at your mom's, working part time jobs to keep your bills paid, trying to get a show once and while at the local club, and on the Internet to get your name out there. If you sign with a major, right from the start you probably get a half-million dollar house, a $60,000 car, a money advace, people to take care of all your promotion, good studio equipment, and get to fly around to parties and radio shows and stuff to get your name out.

[hito da god]

Of course if you go the indie route, you are in the studio at 2 in the morning because that is the only time you can afford, you are living at your mom's, working part time jobs to keep your bills paid, trying to get a show once and while at the local club, and on the Internet to get your name out there. If you sign with a major, right from the start you probably get a half-million dollar house, a 60,000 car, a money advace, people to take care of all your promotion, good studio equipment, and get to fly around to parties and radio shows and stuff to get your name out.
but if you go the indie route you're also reaping all the benfits & profits. if you have any sense you build a home studio and are RUNNING the label yourself... it takes a lot more hustle and determination but the payoff is huge, and you don't have to deal with the headache of being in debt with a major record label.