Day 52: Assignment: Calculate Potential Earnings from a Sync Deal
Welcome to Day 52! Over the past two days, we’ve discussed the different revenue streams you can tap into with sync licensing. Today, it’s time to put that knowledge into practice. This assignment will help you calculate the potential earnings from a sync deal and give you a clearer picture of how all these income streams come together.
LessonImagine you’ve just landed a sync deal for one of your songs. The project is a mid-budget independent film, and the details of the deal are as follows:
In addition to calculating the earnings, reflect on what steps you could take to maximize them. For example, ensuring your song’s metadata is accurate and up-to-date can make it easier for PROs to track and pay your royalties. Networking with the production team could open doors to future opportunities.
Once you’ve completed your calculations and reflections, take a moment to appreciate the financial potential of a single sync deal. This exercise should give you a deeper understanding of why sync licensing is such a powerful income stream for musicians.
Tomorrow, we’ll shift our focus to diversifying your portfolio, which is key to increasing your chances of landing sync placements.
Welcome to Day 52! Over the past two days, we’ve discussed the different revenue streams you can tap into with sync licensing. Today, it’s time to put that knowledge into practice. This assignment will help you calculate the potential earnings from a sync deal and give you a clearer picture of how all these income streams come together.
LessonImagine you’ve just landed a sync deal for one of your songs. The project is a mid-budget independent film, and the details of the deal are as follows:
- Sync fee: $5,000
- Backend royalties: $2,000 per airing (with three planned airings on a major cable network)
- Mechanical royalties: $500 from DVD sales
In addition to calculating the earnings, reflect on what steps you could take to maximize them. For example, ensuring your song’s metadata is accurate and up-to-date can make it easier for PROs to track and pay your royalties. Networking with the production team could open doors to future opportunities.
Once you’ve completed your calculations and reflections, take a moment to appreciate the financial potential of a single sync deal. This exercise should give you a deeper understanding of why sync licensing is such a powerful income stream for musicians.
Tomorrow, we’ll shift our focus to diversifying your portfolio, which is key to increasing your chances of landing sync placements.