If you are an aspiring artist, the money is in producing/publishing, not singing. Example: Dr. Dre earned $2 million dollars for his work on Mary J. Blige's single, "A Family Affair," in 2001. His current production rate is $250,000 per cut. The late great Luther Vandross made so much money off producing and publishing his songs, in the late 1980's he purchased a home in Los Angeles for $10 million dollars in "cash." Currently, Mariah Carey makes more than any other female artist in songwriting/publishing. This is why she rarely tours, she doesn't have to. Whitney Houston was mismanaged because her advisors should have encouraged her to enroll in songwriting classes. If Houston would have written or co-wrote any of her hits, her two homes would not have been foreclosed on. Songwriter Dianne Warren (Toni Braxton, Celine Dion, etc.) was once employed at a songwriting/publishing firm. The agreement, she would receive a straight salary and the company would gain complete ownership of her royalties. After Warren left the firm, she made $1 million dollars, her first year in business. Now, her song catalogue (1,200 songs) generates upwards to $20 million per year. Aretha Franklin wrote or co-wrote several of her hits, this money still keeps her afloat financially. If you write a hit record and publish the rights, you get paid each time that song is played on any radio station in the world. Keep in mind, their are millions of radio stations worldwide, the money adds up. You also get paid when another artist records your song. If your hit record becomes a "standard/classic," and is played on Oldies & Goodies stations, from generation to generation, you will be financially secure throughout your life span. Gregory Abbott (Shake You Down) was a one hit wonder but that song generates $1-$2 million per year in royalties because it's a classic. Rick James generated upwards to $90,000 per month in publishing/songwriting royalties, this is why he never went broke despite his drug habit. He was one of the few Motown artists who retained his royalties.
SOURCE:PANACHE REPORT
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