Let's understand the Business of Music Videos.

The remarkable growth of the music video industry can be attributed to the fact that it constitutes a significant portion of the most-watched video content on the internet.  

Well howdy there, my lovely readers! It's me, Vipul. I hope you had a great week! Before we get started on today's topic, I just want to say that you are all awesome! I've received over 20 emails from readers last week, and I couldn't be more grateful. Most of you liked my content and some of you had questions about the movie biz, and I promise to cover those in future editions. My goal is to make the entertainment industry accessible to everyone, and it warms my heart to know that y'all are on board with that.

Alright, let's begin. Today we're talking about music videos. If you grew up in the 90s or early 2000s, then you know how important MTV or Channel V was to your daily routine. Music videos were all the rage back then, and my personal faves were Santana and Savage Garden. What about y'all? Most of these videos were only available on paid channels until the internet and social media changed everything. Now we can watch old music videos on YouTube or other platforms. Social media has been a game-changer for the music industry, and videos are a big part of that. A video takes a song or album from something you listen to, to something you watch and experience.

Fun Fact

Did you know that the first-ever music video was made way back in 1894? It was called "The Little Lost Child" and was basically a series of still images accompanied by a live performance of the song. Crazy, right?

Anyway, back to the present. The global music video industry is booming, with a CAGR of 7.8%. By 2028, it's estimated to be worth around $20 billion. So, buckle up and get ready for some serious music video goodness, y'all!

Graphic and research credit- www.verifiedmarketresearch.com/press-release/global-music-video-production-market/

Now, I know what y'all are thinking - why the heck are music companies and singers pouring money into music videos? Well, let me break it down for you. Back in the day, the only way to promote your music through visuals was on paid channels, which only a select few could access. But now, with the plethora of digital avenues out there, musicians/music companies  can showcase their videos online and for the most part, for free! And let me tell you, it's working. Just take a look at the most subscribed channel on YouTube - it's none other than T-Series, an Indian music production powerhouse. So, it's clear that videos are an essential tool for the music industry to reach new audiences and keep folks grooving to the beat.

It's not just the channels, the top spots for the the most watch video content (any type) are all taken by the music videos and their views run into billions.

I mean, if these songs can rack up millions of views, why not make one and put it out there, right? Now, let's talk cold hard cash - we're talking moolah earned from monetising a music video on YouTube (let's not even get into royalty income from the music itself).

So, check it - according to a report by Statistica, a good music video can hit 1 billion views in just 171 days, compared to a whopping 1751 days back in 2010. And on average, YouTube pays out $1 per 1000 views. Have a look the table below for an estimated earning breakdown based on the number of views and earnings:

And here's the kicker - the money keeps rollin' in as those views keep piling up over time. Keep in mind, I'm only talkin' about a 6 month to 1 year period here, folks.

But let's switch gears and talk about the cost of actually making a music video. Now, if you're just starting out or you're a regional artist, you could probably whip up a decent video for anywhere between $2k to $50k. But, if you're trying to pull out all the stops and get some big-name performers on board, you could be lookin' at a price tag of $200k to $500k.

If you're curious about the nitty-gritty details of what goes into the cost of a music video, fear not! I've done some digging and compiled the following breakdown:

Per day cost in USD (approx.)

On top of those base costs, there are a whole slew of other expenses to consider, such as camera and lighting equipment rentals, location rentals, prop rentals, permits and licences, on-location catering, and post-production costs. Naturally, the price of these things can vary wildly depending on the size and scale of the production.Typically, a music video is shot over the course of about 10 days and is ready for release within a month.

And let's face it, folks - with the potential for double the profit on your investment, plus free publicity and a deeper reach for your music, it's no wonder that music companies are hopping on the music video bandwagon and churning out more and more of 'em!

Alert ! I am introducing a new segment in this newsletter called,

Pearls from the Past

In this segment, I'll be presenting you with some fascinating trivia and facts from the golden age of the media and entertainment industry that have been buried deep in the sands of time. Get ready to delve into the unknown and forgotten parts of history !

The first Cinema Hall opened in India was in the year 1907.

The Elphinstone Picture Palace , also known as Chaplin Cinema was constructed by a person named Jamshedji Framji Madan on 5/1 Chowringhee Place, Kolkata. The cinema hall was later renamed as 'Minerva' and became a hot spot for Hollywood films. Mr. Madan, who built the cinema hall, was eventually dubbed the Father of Indian film Production. Sadly, the cinema hall was shut down in 2003.

That concludes this newsletter. I hope you enjoyed reading it as much as I enjoyed writing it. I'll see you next Friday.

Bye

Vipul