Come on in, the water in a Royalty Pool is fine.
I like a puzzle.
I was one of those Rubik’s Cube kids, who spent all of recess in elementary school competing with my fellow geeks to see how fast we could solve that six-sided colored puzzle.
That’s why when I started studying the economics of Broadway back in my early Company Management days, Royalty Pools became my new favorite toy.
Maybe it was the mathlete in me that liked calculating all those percentages and points . . . or maybe I just liked figuring out how much creatives could make on a show and imagining me getting a check like that someday.
They weren’t always easy to figure out. The first time I sat down with a Pool in front of me, I felt like I was taking the SATs all over again . . . and I just couldn’t get it. I even asked a producer supervisor of mine to help me crack the code . . . and he admitted he didn’t even quite understand them.
But eventually, I got it.
And thank goodness I did, because it’s one of the most important parts of the budget of all the shows I work on.
If you haven’t quite figured out how a Royalty Pool functions, or even what one is (it’s a formula unique to each production that allows for the payment of creative royalties based on profit), you should tune into my next webinar, Diving Into Royalty Pools, next Wednesday, December 14th at 7 PM ET.
During this hour-long webinar, I’ll discuss the ins and outs of Pools, including:
- The history of The Royalty Pool and why it saved Broadway.
- Who gets what and how they are calculated.
- When you should be on a Pool and when you shouldn’t.
- Three words: Amor-ti-zation.
- What’s next for The Pool?
Oh, and at the end, I’ll give you a real life example of a Pool and ask you to calculate the profit, just like the questions asked on the ATPAM Company Manager entrance exam! Will you pass? Do you have the skills to crunch numbers on Broadway?
This is an important webinar for anyone interested in producing or management . . . and for all those writers and directors out there so they can understand where the bulk of their compensation comes from.
To register for the webinar, click here.
If you’d like to get this webinar for free, join TheProducersPerspectivePRO and sign up for the 30-day trial. BIG NOTE: Because of the popularity of PRO, we are eliminating the 30-day trial as of January 1st. So, if you ever wanted to kick its tires, get all the webinars in the archives, as well as the newsletter, and more, this is the last chance you have to do it for free. Sign up here.
Oooh, just writing this blog has got me all tingly about solving one of those Pool puzzles!
See you next week! Register today.
(Got a comment? I love ‘em, so comment below! Email Subscribers, click here then scroll down to say what’s on your mind!)
– – – – –
–– Listen to Podcast Episode 100 with the “Wicked Good” Broadway Producer, David Stone! Click here.
– Listen to Podcast Episode 101 with the Tony Award Winning Director and Diversity Advocate, Kenny Leon! Click here.
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