t is possible to make a living as a musician. But it takes lots of work. One key income source most musicians like to keep growing is live performance. You gotta play to get experience, get chops, meet others, feed your soul, feed Kitty, market yourself, and have fun! You have to play! It’s who you are. Unfortunately live music is not valued as highly today as it used to be, and it’s partly our fault. Musicians often undervalue their work. Think of it this way. If dentists loved doing root canals so much that they would do them for free, that skill wouldn’t be highly valued either.
So how much is local live music worth in Colorado? What should I be earning for my band, my duo, or as a single performer? I wish I could tell you a specific number. It’s different for everyone, but I think it should be more. Twenty years ago, cash-in-hand when you left the gig was about what it is today – but back then it sure bought a lot more ‘4th meal’! Some clubs still pay a guarantee, but many work off the door or some combination with a guarantee. My experience playing in Northern Colorado, Nebraska, and Wyoming is that if each member walks with $80-$100 (after expenses) at the end of each show, it wasn’t a bad gig. If you each have $150-$250 you are doing pretty darn good as a band, or you are a single act. More than that, and you just did a small concert, holiday gig, or a big wedding.
Here are some simple things to consider that might help build up your performance income. I’ll assume two things 1) everyone is talented, good looking, has a killer sound with amazing songs, and a backlog of calls to book, 2) merchandise and other income sources are not factored in.
Step one says, don’t give it away! It’s a documented fact that people will value things based on how they are priced. Price things a little bit higher, and people assume more quality. Enter pricing negotiations with a value that you believe you are worth and you’ll likely get it.
What’s the value of my music? Figure it out. In 2009, the new federal minimum wage will be $7.25. For a one night show - if you spend 2 hours that week rehearsing, 2 hours commuting to the gig, 2 hours for setup and tear down, and 4 hours playing, you would get $72.50 for that 10 hours of work. Subtract direct expenses like, food, gas, picks, strings, sticks, equipment maintenance, rehearsal space rent, etc. and figure your profit. Is this enough to feed Kitty? Always compute your value, track expenses, and bid your gigs to cover your expenses and make a reasonable profit. Set your own minimum wage and believe you will get it. Set a goal and you’ll get there.
Figure out your base rate and a minimum and stick to it. Say you’ve figured out that you can cover all expenses and get a reasonable profit for each person if you get $600 a show. That’s your base rate. Always quote your base rate plus some extra amount. Be consistent. Quote $800 all the time for example. You may not get it, but then fall back to your base rate as you negotiate, you still make a profit.
Let one or two people own the booking chores – it keeps it consistent and they’ll get good at negotiating. Remember, it’s better to aim high and negotiate down or you might leave money on the table.
Finally, don’t play for free, and never pay to play. Always value yourself and your efforts. Taking low money for a gig today, will get you more low money gigs tomorrow. Get something tangible for your work! Even if it’s getting $100 for the whole band, and free food and beer! At least you got something. You can build on that over time.