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18 Июн 2015 | Author: | No comments yet »
Maybach DSH


Introduce to the PMP community

My name is John P. III and I’m a business manager. been a business manager for 15 years with extensive representing artists, producers, movie companies and athletes.

How did you get start in the business?

I initially with having my own tax and accounting and one of my friends inherited an entertainment from his sibling and told me I get more involved. From I started to notice the amount of as far as tax and accountant problems when it to people in the business. Basically I a lot of sloppy business going on so I saw I could fill a void my experience.

What’s the difference a general manager and a business

A manager normally handles artists their deals but the manager keeps track of the royalties, show money, budget as well as personal If you get the wrong business manager it cost you a ton of money so you have to wisely. In one particular case an did about $3 million in touring year and I wonder if they took home $200,000.

Is due to financial mismanagement?

Absolutely. witnessed another situation the artist’s road manager up making more money the artist. Let’s say the artist was about $12-15K a show after expenses they about $1500-$2000 a week. The manager however was making $3500 a week.

So you had to come in and everything out correct?

Well I the artist what was up but he still in the business manager he had so I left it Sometimes you can’t tell an anything.

Do you find a lot of this is due to the artists contracts they can’t because they’re too busy on the fame and notoriety?

Yes and it happens a lot too many people don’t the time to truly understand the they’re in. I’ve seen artists do clothing or sneaker and they always do a cash but nobody’s thinking about That’s what separated and them with the Rocawear because they were to tap into that equity. So its ok if you get a up front but once that is gone that’s it. If you got equity means having a stake in the you can always sell it off later.

How has the changed overall now compared to you first started?

I would say 10 ago it was common for an artist to get $200K, up to a half a million or better on a recording deal advance. Now in current state a lot of artists are $25k as an advance, $50k Unless you have a buzz Drake then you can demand on the advance.

On top of that the labels are now 360 deals with the new artists and are for 10-15% of everything including the tour revenue. They since they’re spending promoting and marketing the artist should get a piece of the show and money as well. And all the money is in record sales for the most outside of a couple big acts is a A top 3 act right now will command per night on the road but if this was 10 ago it would be around $500-600k per just to show you the difference now and then.

With saying that advice would you give to the new now entering the business?

You need to do more than just and singing nowadays in my opinion. You to diversify and hit it from all angles. about being a business and not just an entertainer.

Does business charge upfront for services or do you ask for a cut on the back end of the deal?

percent is the norm and sometimes we go the flat fee depending. If the artist did 4 or 5 units of course at some you can’t charge 5% because if the made $40 million dollars how do you charging them 2 million for the year? So in that case it be feasible to work out a flat fee makes sense for all involved.

We all the financial horror stories entertainers and the finger of blame is pointed at the accountant and/or manager. How much of that merit verses just a scapegoat strategy?

I would say about 50/50 but really I put it more as the artist’s fault a lot of time when you try to give a budget they don’t to hear about budgets. All care about is spending because in their mind about having the Lamborghini’s and instead of buying assets appreciate in time like and opening new businesses.

You have to the average artist has a 3-4 album career. Of course you have a few go beyond that like Dogg, Jay-Z and Dr. Dre but that’s the exception. The main problem is don’t take budgeting because they think going to make money at rate forever and that’s not the case.

So a good business manager not only setup a good plan for the artist, but also the artist certain insight sound investments such as IRA’s, etc.

Yes in addition to good accountant services and setup and tracking I also sometimes getting an investment someone who is going to specifically investments for them.

Talk the duties and responsibilities involved in your own business

As a business you’re constantly looking for people to work with and the job ends. After the typical 9 to 5 I may get emails from the West all the way up to 12, 1 o clock in the morning. One of my clients was on over in Japan which is a 14 hour difference so I sleep my Blackberry in my bed because I may get hit at 3am because an Express card isn’t out there or any other little that may need to be handled. You to be on call around the clock the tour is depending on you when it to money for the security, the audio the bus and the artist themselves.

Do you ever go on the with the artist or do you usually the business from your

If the artist lets say goes on a 20, 30 tour I may pop up for a show or two on a surprise so I can catch the artist doing they do. I remember in one particular one of my artist’s people were me how they were gambling so I did a sneak move like what’s going on, I heard spending big money out here!’ One time at a show I saw an artist 5-10k out in the crowd. unbelievable

Is there any tax breaks for ‘making it at the clubs?

No tax breaks for that, just a straight loss! Of I don’t appreciate it. usually the tries to hide some of the they do from the business I often have to stop from buying things. I get a from the Maybach dealer yea he told me to call’ and I say no we’re not that and shut it down.

Maybach DSH

In case does the artist to give you the right to make final decision?

Well person can go and set it up but they have to the call to us to get the money sent and that’s where I can stop it.

Are any situations where you would taking on a client if the legitimacy of money comes into

I try to stay clear of that, you don’t want to end up putting problems on your plate you have to. Sometimes things well but then take a in the wrong direction and its best for all to split amicably.

Some unfortunately go around their and business managers and try to deals on own. Of course we get the phone when things go wrong.

Do you have any additional business or is managing entertainer’s business your main focus?

working on an online label which will allow the to control their own projects. I it’s a great idea lets say the unit sells for and the artist wind up getting per unit they can do very for themselves if they sell units. They can do their own and setup their own publishing and more control.

Do you spend of your time keeping up the changes in the music business due to the technology?

Yes definitely I do a lot of reading on a basis and I keep in touch different attorneys and publishing to stay current. Even you guys as well; I was impressed the company’s business model 3 years ago.

We appreciate it. of attorneys, as a business manager are you in communication with them it comes to dealing with the

Yes sometimes I have to play the of the ‘bad guy’ and talk to the and fight on the artist’s behalf. it may not come out the right way but I’m looking out for my client’s best

Talk about keeping a relationship between yourself and the

I’m not the manager that’s to be hanging out with the artist 4am because I have to be in the office thing in the morning and handle A lot of managers and attorneys in the business to dress down but you will see me in a business suit and not too much of the what’s up man’, not that I relate because I was raised in the but I prefer to address my clients as especially when we’re about setting up a college getting medical insurance for family and property purchases.

What’s your general in regard to investing in real in this post-recession climate?

are a lot of deals out there right In the Harlem market I’m people buying property for cents on the dollar. In Miami you people getting property for off so now is the time to make that in my opinion. I myself made deals where it was 15 cents on the so it’s real.

Any last of advice for all the producers, artists and label execs?

I would say very important to have the team in place including legal counsel and your who can advise you’re properly and sure you have someone can show you how to invest your wisely. As far as investments there are a lot opportunities now than there was 30 ago for people in the urban market A ton of money.

Maybach DSH
Maybach DSH
Maybach DSH
Maybach DSH

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