Music Business

We need a Creative Survival Index for musicians

Christ Castle outlines a new mechanism for tracking economic fluctuations month to month as they apply to musicians.

Guest post by Chris Castle of Music Tech SolutionsI had such a positive response to the post Why Songwriters Should Care About Inflation Protection for Mechanical Licenses that I developed a number that we will use for reference. I call this the Creative Survival Index and I will update the index monthly as new data comes in for all the categories. I’ll also track the monthly change (“MOM Change %”).

Realize that this is just a reference point that adds together all the different inputs I cover in the post. It’s just a way to have a single number to refer to for easy reference. The number itself does not tell you anything about the underlying data and I’m happy to have any input on how to make it better.

Remember I discussed the potential for stagflation hitting the US economy–the International Monetary Fund announced today that it reduced the global Gross National Product projections to 5.9% from 6% one sign of stagflation.

MORE: Why songwriters need to care about inflation protection for mechanical licenses

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