andrew sharpe Wrote:potsie Wrote:I still think there is money to be made for a band of their stature in releasing an album, even without touring. An album release brings the band back into the public consciousness and the streaming and sales of all their albums rises with each new release. There would be increased radio play for all songs, licensing opportunities for the new songs (TV, movies, etc) and a potential uptick in merchandise sales for those being newly made aware of the Hip or those re-discovering the band after hearing a new song.
Unless you're Drake none of the things you listed add up to more than a bowl of cereal...which they then split five ways.
I could see them doing a b-sides release...but I could just as easily see them letting the band drift into the annuls of history. The final tour secured their retirement, and I'm not sure they're vain enough to endure a labour of love just to bolster the band's legacy.
No doubt that streaming revenue will not stuff the piggy bank. I hope the final tour did that for them, along with selling shares of Newstrike before the bottom fell out of that venture. There are a number of different formulas out there for streaming royalties but the simplest formula seems to be around $7,000 per 1 million streams. Looking at what Spotify gives me for the "Popular" category under the Hip (and this is not a list of their most streamed songs; for instance 38 YO has close to 5 million streams but is not on this list):
Bobcaygeon 7.51 million
NOIS 6.83
ABAC 6.53
Wheat Kings 8.79
LTR 3.38
That's 33.04 million streams x $7,000 per million = $231,280 from those 5 songs. Producers and record labels are going to take some of this, and then the remainder would be divided 5 ways. While these numbers won't buy them a new Mercedes, it may help pay for the gas.
A more worthwhile analysis might be to look at what a new album generates in streams. MMP streams range from a low of 352,000 for Hot Mic to 3.54 million for In a World Possessed. Total streams for MMP: 9,172,928. Using the same formula, this results in $64,210. Artists tend to make more from Apple Music so let's say the band makes $100,000 for a new album from that source. Then you could add in revenue from physical sales (which would be meager these days), and royalties from Youtube, Google Play, Amazon Music, etc. There would be potential licensing opportunities for the songs, which could be more lucrative than streaming revenue. It would be difficult to put a total number on all this but it could conceivably be between $300,000 to $500,000. (I recognize that this is an overly simplified analysis with holes in it... if someone on here has industry insider knowledge, please feel free to correct).
However, the greatest benefit of a new album, from a financial standpoint, would be that it temporarily raises the band's profile again. This results in increased streaming and sales of all albums. This, in my uneducated opinion, is where the band would derive the greatest monetary benefit of a new release. In the end, I hope the band chooses love of playing and recording over money, but would not fault them if they didn't.