|
Tour Support: If you are signed to a record label, you may be able to get Tour Support. This is the record label paying the loss on a tour in order to make it happen. Sounds good? But beware of the catches. Firstly, the shortfall will be deducted from any future royalties the artist earns, so it is effectively a loan (unless you never recoup of course). Secondly, they will insist on approving a budget in advance and if for some reason the costs end up higher than the agreed budget they may refuse to cover the extra cost. Thirdly, even when they do approve a budget they will probably only give you half the money and pay the rest after the tour when you show them proper accounts and copies of all the receipts etc. This can be a problem for your cashflow. And remember – if they agree to pay you £10K Tour Support and the tour comes in £2K under budget, don’t expect to pocket the £2K saved. It will just reduce by £2K the amount of Tour Support you get.
 |
Subscribe to this comment's feed