Financial Aspects for recording project

Enter Shikari Cover (Metalcore)

Members: Luis, Connor, Shaun and Laurence

Engineers: Daniel Loh

Studio: one (North Road Music Department)

Instruments Hours Rate Total
DrumsBassGuitars 09:30 – 13:30 £15 per engineer per hour + Studio Hire £20 £80

Mixing: £20 per track (8 hour session) + £5 for every hour over

Mastering: £10 per track

 

The recording costs is based on how many engineers are required on the day depending on how fast the band need their material recorded and the amount of setup needed. This is based on Absolute Music’s charge and my own engineering experiences/knowledge, the cost also includes microphone hire and insurance charges in advance. How I worked this out to find the total cost of all mic’s and divide this into a sensible number of sessions that would pay off the cost of the microphone inventory.

Microphone Description Cost (Gear 4 Music)
Audix D6 Kick £175
Shure SM57 x2 Snare, guitars £170
Samson C02 x2 Overheads £85 for a pair
Audio Technica Pro25 x2 Toms £220
CAD m179 Room £130
Sub Total £780

All the microphones in this session costs £780 to purchase, so If I would divide this into six sessions would be £130, this would pay back for all the expenses allowing me to return to making a profit. This doesn’t include mixing console, studio acoustic treatment (labour and planning approval costs to build this), studio instruments, stands, cabling, outboard gear. Which would cost thousands of pounds and a years of debt to repay, so will not include the costs as I’m using the college’s anyway.

With mixing costs, the standard 8 hours I spend will cost £20, some jobs do need more attention (timing edits etc.) should it exceed the 8 hour mark an additional £5 per hour will be charged with the clients knowledge, this will be included in the invoice. Below is the list of gear I use at home to mix with, the total being £450, If I mix an EP of 4 tracks for the next 6 sessions will earn £480 which pays back everything and will be able to start making a profit.

Item Description Cost
Laptop Operating system to run the digital audio workstation £250 (2.4Ghz i5, 8Gb Ram)
DAW (Pro Tools) Used to edit and manipulate audio to be mixed £200 (student)

Mastering is a fixed rate with no hourly charge rate due to inexperience in this area, so is charged on the number of tracks i.e. 6 tracks at £10 per track will be £60 in total. The same gear used for mixing is used for mastering so I will be able to use this money to pay back for recording, mixing gear and eventually earn a profit.

Invoice example

To: (Band or Client name)                                                         From: Daniel Loh

Address line 1                                                                               Address line 1

Address line 2                                                                              Address line 2

Town                                                                                              Town

County                                                                                           County

Invoice to (Band or client name)
Date Hours Rate Description Total
31/3/2015 09:30 – 13:30 Studio Hire £20 +Engineer x1£15 per hour Recording + Studio hire £80
1/4/2015 Within 8 hour cap Track x1£20 Mixing £20
3/4/2015 (Fixed Rate) Track x1£10 Mastering £10
Sub Total (exc. VAT) £110
Total + VAT 20% £132

Make payable to MR D A LOH

HSBC Bank Account number: 123456789

Sort Code: 12-34-56

Payment is due within 14 days, should you wish to pay via cheque or cash please post to as asasasas, Poole Dorset.

Thank you for using our services, we hope to see you soon!

 

Like us on Facebook, Twitter, Instagram @sdasdasdasd

Contact: 07777 777777

Email: myemail@emailhost.co.uk

VAT – or Value Added Tax – is charged by businesses at the point of sale of goods and services sold in the UK. Basically tax on business transactions. http://www.vatcalculator.co.uk/

 The invoice covers all my expenses for recording, mixing and mastering and is worked exactly as shown on the invoice, it includes my bank details and other methods of payment which is why I added contact details should any queries arise in the process, a deadline is issued and followed by a thank you as basic manners for the client showing gratitude. Social media is also on their as advertisement for future income.

Expenses

Description Amount
Travel to studio via bus -£3.00
Food Expenses -£3.00
Electricity bill used for mixing & mastering -£5.00
VAT -£12.00
Miscellaneous -£2.00
Gross income £132.00
Total Reduction £25.00
Net Income £107.00

Writing a contract – Contracts can be very useful should any legal issues arise in future, it can be proof of what roles and services you and the client agreed to, but mostly to ensure you get paid should anything go wrong during or after the recording process. Below is an example of a simple agreement between two parties.

Audio Services Agreement

Address line 1                                                                                                                                    Address line 1

Address line 2                                                                                                                                    Address line 2

Town                                                                                                                                                     Town

County                                                                                                                                                 County

Postcode                                                                                                                                             Postcode

This recording agreement is made this day of 31/03/15 until 03/04/15 between party (Band/client Name) and (my name/company).

Explanatory Statement

The (client) hereto agree and desire to pay for the services of recording, mixing and mastering provided by (me) to (client) until the deadline of 03/04/15 and no later.

the client agrees to follow the direction given by (me) to allow best possible flow of operation and the project, the band to respect and not damage/destroy any of the studio gear or miscellaneous items within on the premises even after the deadline has passes, the band agrees to attend all session on time and arrive prepared, the band agrees to pay for the services should any cancellations of session occur, post deadline (my company) shall not be held responsible or liable for any of the following:

  • overall success of the product
  • Is not obligated to amend the contract or the product after said date
  • Overall Quality of the product
  • Public image, reputation
  • Any economic losses (including without limitation, loss of revenues, profits, contracts, business or anticipated savings)
  • Acts of god/Force Majeure

 

On behalf of (Company name)

Signed…………………………………….

Print   …………………………………….

Date   …………………………………….

On behalf of (Client/Band name)

Signed…………………………………….

Print   …………………………………….

Date   …………………………………….

Absolute Music Price comparison

Instruments Hours Rate Description Total
DrumsBassGuitars 09:30 – 13:30 £30 (includes engineer + studio) recording £120
(within 8 hours) £ 80 Mixing £80
Quote Dependant Mastering Based on quote
Sub Total (exc. VAT) £200 ++
Total + VAT 20% £240 ++

 

Mixing: Standard £80 or £40 per hour (depending on session complications)

Mastering: No fixed rate

 from the Absolute Music example we can see they are over £100 more, but they also have more experience and slightly better equipment than what I used, so I’d say is a pretty fair price.

Outsource Professional Mastering engineer price quotes:

It is worth noting some mastering companies will charge differently depending on whether you are with a signed or unsigned with a label.

Brighton Mastering http://brightonmastering.co.uk/rates/Files are delivered as CD quality WAV – 44.1kHz, 16 bit – as standard. Other formats available on request, with extras charged at the rates below.

1-4 tracks £30 per track

5-9 tracks £28 per track

10+ tracks £25 per track

Instrumental & alternate versions £5 per track

Production ready CDR master £10 + £2 p&p

DDP image £5

mp3 mastering £5 per track

Vinyl mastering £10 per track

 

 

 

 

 

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