Economics: Cost and Music Essay example

Submitted By sb1776
Words: 700
Pages: 3
Open Document
Economics

The business i am creating is a music production and promotion business. I chose this type of company because music will always be around and i have a strong passion for music. I feel if i had an opportunity to produce and promote peoples "art" i would have a posotive impact on society by putting out there posotive music and influences.

This business would benefit me by being able to do something i love to do while at the same time making money and getting my name out there aswell, and it would give me the opportunity to do things that not everyone gets to do and possibly go places not everyone can go. This would also benefit me by giving me the satisfaction of producing and promoting great music.

My business would be located in hollywood California because i would stay close to my familly and this would also be a good place to be located because hollywood is a great place to promote and all the "big" stars conduct themselves in hollywood, hollywood is a big place for music. There is only really two downfalls to being in hollywood and that is artists that are somewear els may not have acess to your studio but if i make it big time that would be no issue i could get them out here with no problem. The second downfall would be costs, the costs of being in hollywood would be more expensive than it would be in a less famouse/popular area.

The goods i would be providing are a studio and cd's. The services i would be providing would be production and promotion. To start i would have to build a studio which would probably be around 350,000 dollars. Then i would have to get insurance which would be around ($600) a month then property taxes which would run about ($900) a month then utilities about ($600) a month, then i would probably have 3 employes and their salary would be around $35,000 a year. I'd probably have to have a loan to get the $350,000. If i had 20 years to pay it off with a average interest rate of 6.5% it would cost 3,885.71 a month, so just to open the door for one month the cost would run about $14,735.71. If i could book 35 hrs a week and charge $125 an hr. i would make $17,500 a month, that would leave me a total profit of $2764.29 which isnt much so then i would have an employer promote the artists work. Costs for this can vary so there is never a set price on how much it will cost or how much you will profit this all depends on the
Show More

Related Documents: Economics: Cost and Music Essay example

Communism, The US Emerged As A World Power

a world power • After WWI, the U.S. faced economic problems such as depression and red scare • “Communism” is when a place controls the people’s rights. The world’s first Communist state was Russia • The 18th Amendment was all about no alcohol • “Bootlegging?” was selling alcohol illegally. “Speakeasies?” were establishments that illegally sold alcohol. • Henry Ford produced cars that could be afforded by middle-class families by reducing the cost & labor of the cars. The automobiles changed…

Words 829 - Pages 4

Essay about Sex Drugs and Econ

Sex, Drugs, and Economics" –A Book Review: Despite economists’ frequent use of graphs and figures in justifying their theories and predictions, economics has never been either an exact or an abstract science. Economics attempts to describe patterns of human behavior and human choices that often seem unpredictable and irrational, unless these choices are closely examined in their specific context. Diane Coyle’s book Sex, Drugs, and Economics uses examples as far-reaching as the sex industry…

Words 1547 - Pages 7

Essay about Microeconomics: Costs and Compact Music Disks

Federation University ATMC Melbourne Business Economics Assignment Title Microeconomics Student name: Parul Bedi Student ID: 30302266 Lecturer/Tutor: Mr. Susil Ratnasekara Word Count : Date of Submission: 16/1/2015 Question 1 a) Suppose that oil prices rises sharply for years as result of a war in the Middle East. Illustrates with a diagram what happens to the: i. Demand for automobiles? Ans :- The demand curve moves to the left because people are not using…

Words 991 - Pages 4

Essay on Music: Breast Cancer and Socio-cultural Value Chain

All music is a source of creativity, cultural identity, recreation and employment for many people in Australia, including a large proportion of young Australians, many of whom attend popular music concerts. Music is one of a very small number of art forms with the ability to generate substantial employment opportunities and the potential to contribute to export earnings. The Australian Government and almost all of the State Governments have some form of program of assistance for contemporary music…

Words 1524 - Pages 7

Environmental Analysis Essay

the macro environmental level, political, economic, socio-cultural and technological trends have great influences on Apple. Political trends include laws and regulations made to regulate the firms. For example, the Protect Intellectual Property Act (PIPA) was introduced in 2011. When the online music downloading has great negative effects on recording industry. The PIPA influenced Apple make it successful being the first legal site that allowed music downloads on a pay-per-son basis. (Apple Inc…

Words 571 - Pages 3

Essay on Gaga Case Study

already incurred sunk cost of $4 million in developing the Fame Kills Tour with Kanye West and this amount cannot be recovered. So the third option is out of the picture. In any business, those who take risks can reap great rewards than those who are afraid to do so. Therefore it’s better to build upon the already laid foundation and proceed with the tours than cancelling because of fear of incurring more loses. The other option is to go for a smaller theater tour. Usually in the music industry upcoming…

Words 1878 - Pages 8

Econ essay oligopoly

Abstract This report is an empirical study of oligopoly in the global music industry and includes researches about concentration ratio, price leadership, abnormal profits etc. The aim of the report is to examine the extent to which the global music industry reflects the theory of oligopolistic markets by providing evidence of independent research with various recent examples. The data stems from a variety of reference books, websites, surveys and articles on the Internet. Contents Abstract…

Words 4186 - Pages 17

Essay on Polyphonic Hmi Case Analysis

Definition of the problem: “Hay más probabilidades de ganar en Las Vegas que en el sector de la música” stated Ric Wake, an Independent music producer. In a US market where sales growth is declining by 10.4% in 2002, this situation weakens deeply the whole music industry and opens to the door to a change of pattern in the way executives of this industry predict future “hits”. Polyphonic HMI, a technology company, relies on a single marketable revolutionary product: Hit Song Science. HSS is artificial…

Words 2098 - Pages 9

Festival and Events Essay example

legacy. Programmed by Mathew Street Music Festival Directors Bill Heckle and Dave Jones, it will be a mixture of cover acts and original artists. The other location is Sefton Park for an evening of live music in the stunning surroundings of one of the city’s most popular green spaces. The opening of the festival is the Royal Liverpool Philharmonic Orchestra and chief conductor Vasily Petrenko taking to a brand new stage in Sefton Park for an evening of live music in the park. Social aspects…

Words 735 - Pages 3

Economic Globalization Essay

and what I believe to be at its core and what the major results of globalization are. At the political and economic level, globalization is the process of denationalization of markets, politics and legal systems. It is the rise of global economy. Many international organizations, governmental institutions and the whole academic world discuss the consequences of this political and economic restructuring on local economies, human welfare and environment. It is one of the most important features of…

Words 1371 - Pages 6