Analysing my Taxi data

[Cruciform]

So my third year is up in a few days and I've been reviewing it all.

I divided my data into 6 month blocks as I thought that would give a fairer picture of any particular trends. The data extends beyond 3 years though because I had breaks between each renewal. Basically, although the number of forwards per 6 months isn't rising, the F:R ratio improved on trend.

Some notes to give context: At some point I realised that targeting was equally as important as quality so nearly half of total submissions were in Y1 while Y3 was quite sparse. My focus also narrowed considerably so there were far fewer listings of interest to me.

I still have no deals from Taxi forwards except for being included in a Taxi compilation CD last year. I have been introduced to two publishers via Taxi members.

However, my library workload has grown steadily resulting in far less time to write for submissions anyway. I've also regrettably had to turn down some work recently because I honestly can't fit it in. Bittersweet. When I first started, I literally had no clues about the business or music for media. None. I'm now onto my 5th project this year paying an advance and of those, about to start my 3rd involving orchestral and choral recordings. That's been incredibly exciting and fulfilling. I'm currently writing alongside some great names in trailer music. That's incredibly humbling! From knowing nothing to where I am now in 3.5 years. I still haven't reached what I define as 'success' but I'm on the right road.

I don't think I'm particularly talented or gifted. In fact, I can't read music (I suspect I'm musically dyslexic) and have the most basic working knowledge of theory. But I am focused, passionate and I believe in myself. I think those qualities annul a multitude of musical sins.

I guess my point in this dribble is that if I can do it, anyone can. And don't let "No" stop you. Hearing "no" just invoked "I'll show you" in my thinking. Just because someone says 'no' doesn't mean they're right.

http://getbusylivingblog.com/famous-peo ... -failures/

[wen]

That is really cool, Rob. I appreciate you sharing that. It can certainly be discouraging to people starting out, all the returns. You make a very good point.

[mobster85]

You are absolutely right in your attitude and perseverance. Very impressive and you give me encouragement. Thanks. Peace Bob LoGrasso

[andygabrys]

great thoughts from you Rob. you are an inspiration to RAWK!!!

[funsongs]

Don't know if you even wanna go there, but can't help wondering what the numbers are when comparing investment
(your cost) to return; strictly by the books.
Include an estimate of your time/hours, maybe at a very conservative rate (say, $20 an hour?) that you'd pay yourself.
So for those 151 (119 + 32, right?) times you submitted. Membership + other expenses. Gear you've bought; pros you've hired.
Everything and anything out-of-pocket...to what you've received as payment.

Obviously, as in any art-form, there are returns and rewards that go beyond financial compensation; the intangibles.
So, my curiosity is solely about the "business" model, based on the topic of this thread.
How long before you're operating 'in the black'?

Cheers.
Peter R.
http://www.soundcloud.com/funsongs-1

[wen]

Funsongs - Understand your desire to quantify, but, where would you actually start counting from, and for what purpose? From the first day you ever held a guitar? No one I know is ever really 'in the black' in that no one is completely satisfied with their gear, instruments, etc. Everyone's journey/time frame will be different.

Rob, one other thing; I think you hit on one aspect of attitude that works.. the "so there" attitude. I think it takes a certain aggression to cut through all the crap and keep going, and when I think about lots of artists with 'success stories', this seemed to be a common attribute. So there.

[funsongs]

Only asking in the sense of when someone is endeavoring to be solely supported by their music (able to quit their day job);
you might make that a starting point.
It's my understanding that many, if not most, folks who join TAXI, have hopes doing just that.
Or, at least, to have the music they ARE putting out there, being able to cover the costs (of production) to do so.

Another thread was a comparison, or debate, about amateur v. professional. I think the answer is in there, somewhere.
When it no longer is only a matter of paying your own way. The time when you can live on the fruit of your own labors;
and not have to rely on something in addition to that. Make sense?

[andygabrys]

Only asking in the sense of when someone is endeavoring to be solely supported by their music (able to quit their day job);
you might make that a starting point.
It's my understanding that many, if not most, folks who join TAXI, have hopes doing just that.
Or, at least, to have the music they ARE putting out there, being able to cover the costs (of production) to do so.

IMO - even this is something that will take a number of assumptions and deconstructing.

what if:
you never had a day job?
your day job is teaching guitar lessons?
your day job is working as an engineer in a studio of some kind?
your day job was $100k / year, and you saved up a lot to finance the lean starting year(s) and you are now making $30k as a composer?
you never hire a single other person to do any production and engineering?
you always hire others to perform, and engineer, and mix, and master, and market your compositions?
you live in an expensive city and your mortgage is $3500 per month?
you are young and live at home and pay no rent to your parents?
you are still doing your 100K day job and making an extra 50k composing and are more interested in building a nest egg rather than quitting the day gig?

it could go on an on.

it seems like there are so many people, with so many individual circumstances, that saying as a blanket statement "it took x years to quite my day job via TAXI deals" seems a little fanciful at best.

In some ways, that's like figuring out a "forward percentage". Well what kind of listings did you submit for? Always ads in excess of $10k? Wouldn't be surprised if the percentage was low. It doesn't give you much information beyond a number without a lot of qualification.

anyways........

[funsongs]

Maybe I shoulda been more specific...
when you can "quit your anything-other-than-something-music-related-that-you-love-to-do day job".

[Cruciform]

Some interesting discussion ensuing.

Peter, for me, 'success' is net annual income on which I can comfortably support my family. I'm a long way from that but a lot closer than a year ago. And 'success' is always a purely personally defined word. One person's success is another person's mediocrity.

It's a long lead time business if one approaches it as a business. Hitting it lucky with a top 10 song or the like is a black swan event. It can't be planned for except as a long tail contingency but it doesn't factor into the basic day-to-day business plan. And ROI is a longer term indicator. It really doesn't mean much this early in the piece. It's like evaluating the ROI of an education whilst still at university. I'm still in learning/apprenticeship phase.