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Posted by Joseph Hwang Joseph Hwang

How a K-Pop Artist Gets Paid

 A contract may say that an artist receives 50 percent. Before doing the math, ask what the percentage applies to. The amount a promoter pays, the amount left after expenses, and the amount an individual group member receives are three different figures. Imagine an agency receives $10,000 for a group performance. The agreement allows $2,000 in expenses to be deducted and gives the group half of the remaining $8,000. The group receives $4,000. If four members split that amount equally, each receives $1,000 before any individual taxes. These numbers are hypothetical. The calculation changes with the contract. When reading a settlement statement, check three things. Who received the payment? Which expenses were deducted, and how were they allocated? Can each artist trace the final figure back to the underlying records? For a fuller explanation of what artists and agencies agree to, explore Music Business Through K-Pop on Kindle. Explore Music Business Through K-Pop on Kindle ...
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Posted by Joseph Hwang Joseph Hwang

Inalienability

Joseph Hwang


Inalienability is one of the most essential things in the entertainment business. It’s why some entertainers are worth more than others. Inalienability is also related to an entertainer’s intrinsic value and the differences in economic value between celebrities.


The general principle of economics is also applied to this attribute. There is no exception to how value is created, even in the personality of the human being dominates this industry and market. Inalienability is the essential resource that makes scarcity possible. Scarcity gives economic value based on the law of supply and demand, the golden rule in the market system. Inalienability is the most important key factor in the entertainment and media business.


Regarding inalienability, we need to consider and focus on why and how we can build the value of the intangible asset, which is our unassignable personalities and characteristics as human beings.


Even the most beautiful woman in the world would lose her value if all women were gorgeous. So, on the intangibles related to the visualized concepts, such as the beauty of appearance and the attractiveness of shapes and colors, the value of these things is affected by the portion of the population. However, feeling-based concepts like individual characteristics, uniqueness, or originalities tend to be less affected. After all, people feel and judge the value of the intangibles combined with the visualized and feeling-based concepts, but the combination ratio is different.


For instance, the impersonator looks like Tom Cruise, the actor! Even though he closely resembles Tom Cruise, his performance fee is not like Tom’s. Never, ever! Because the impersonator’s originality is different from Tom’s. So, what comes the value from the entertainers? Let’s think about it!


Of course, value and price are absolutely not the same thing. However, the volatility of value can affect the performance fees (price) that entertainers get in the real world.


The value of entertainers comes from the inalienability of human characteristics and personalities. From an economic viewpoint, this forms scarcity, and then the value of scarcity determines the prices of entertainers in the market by the rule of supply and demand.

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