It’s no secret that breaking a new artist costs money, but the exact numbers are pretty astounding. According to the above graph from global label trade group IFPI, the average major label is spending anywhere from $750,000 to $1.4 million on a newly-signed artist.
Every aspect is expensive, but the lion’s share goes to marketing and promotion. Check out the numbers above, read what exactly is going into that marketing/production budget below and get a more complete breakdown of spending over at DigitalMusicNews.
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[via DigitalMusicNews]
