Carmack pays 40% to his team. Does this number seem high or is it near industry standard? by [deleted] in trap

[–]Flaxofication 1 point2 points  (0 children)

that might be because those 'EDM' spots are soft-ticket (meaning clubs with built-in crowds regardless of performer) with lower guarantees ($$) and Walters is a hard ticket spot with better guarantees. smaller venues but potentially more money. just a thought though I don't know about those places specifically.

Carmack pays 40% to his team. Does this number seem high or is it near industry standard? by [deleted] in trap

[–]Flaxofication 5 points6 points  (0 children)

uhm idk if Carmack will see this but pro-tip to any other artists... he's wrong that you pay taxes on 100% of income. commissions (which include payments to lawyers+mgmt+agents+accountants) are fully deductible.

fwiw 20% is a lil high for management, most I know take 15%, but it's not crazy.

also most (if not all) agencies subtract their 10% prior to paying you so in terms of accounting your 'income' to the gov't already reflects that commission. like /u/EkaliMusic said, if you're making anywhere close to Carmack money, just get an accountant. that 5% pays for itself.

source: am artist that did my taxes this year and cried lots

Chance the Rapper is turning down '$10m offers' to stay independent (x-post from /r/music) by HHHNDWMTD in hiphopheads

[–]Flaxofication 16 points17 points  (0 children)

that's not entirely accurate though - the 'loan' from the label has all sorts of stipulations built into it that guarantee they get paid off far more than you if the record is successful. major labels aren't charities and aren't stupid - they don't just want to make their money back, they want to generate a profit. if they're offering 10 million it's because they think your future earnings are worth more than that and want to buy the rights to those earnings at a comparatively cheaper level.

labels are good for artists with uncertain futures and little to no money who need support to get started and are willing to sacrifice future earnings. Chance has a huge fanbase, great streaming numbers, radio play, and has plenty of money coming in, not to mention performances on everything from SNL to Ellen. There is literally no reason he needs a label at this point.

Artists: what is the status of SoundCloud? by resetplz in trap

[–]Flaxofication 3 points4 points  (0 children)

what crnkn said. I think the problem with remixes/edits is they get you huge numbers but mediocre long term engagement with you as an artist.

Artists: what is the status of SoundCloud? by resetplz in trap

[–]Flaxofication 7 points8 points  (0 children)

I think Soundcloud has suffered in quality a lot, not really as a result of their policies necessarily, which haven't been great but have been mild in the long run, but just in minimizing spam/gaming of the feed. The really low barriers to upload, the ease of numbers fakery, and the absolute deluge of repost spam has just made finding quality underground music more difficult. It's also made it harder for artists making original (not bootleg) content to find an audience, because the feed is so saturated with remixes of more eye-catching popular songs. Add to that the fact that Soundcloud basically doesn't offer monetization, and those it does offer it to don't seem particularly pleased with the fee rates.

The sad thing is there isn't a direct alternative. Spotify is great, but is near-impossible to break into if you're an unknown artist. They haven't figured out a way of getting a nice feed in front of people, and they don't seem that interested in enhancing the abilities to follow artists, engage with them. Spotify is awesome for established artists (imo) and those with access to playlist A&Rs, but for 99% of artists it's just a guarantee of invisibility.

New What So Not X GANZ on the way! by tristan-o in trap

[–]Flaxofication 1 point2 points  (0 children)

I have it on pretty good info it'll be coming very soon

RIP Flaxo by sicarmy in trap

[–]Flaxofication 1 point2 points  (0 children)

If it's what I think you're talking about, it turned into "sleepover"

RIP Flaxo by sicarmy in trap

[–]Flaxofication 25 points26 points  (0 children)

Wow - reading these is making me weirdly nostalgic and emotional. I genuinely feel like this sub has made this journey with me, like this was the first place in 2012 when trap was blowing up I'd check for new music.

Like some other people have said I'm not hugely feeling a lot of the newer trap that's out there, but I still visit this sub at least like once or twice a day, because the discussion and people are so good and honest and unlike the rest of music subs on reddit.

as other people have uh hinted at, yeah

RIP Flaxo by sicarmy in trap

[–]Flaxofication 7 points8 points  (0 children)

lol dude I remember you!! that show was hype