Phrenzie.com

I was reading an article, “Confessions of a Wedding Planner: 5 Signs a Couple will Crash and Burn“.  One of the 5 signs was that the bride blows 1/2 of the wedding budget on the dress.  It made me think of my wedding

I wanted a big wedding…until I found out how much it costs.  So my wife and I decided to spend “a lot” on a few – quality over quantity (originally, her preference).  We wanted the people closest to us to be there.  For me, that meant my brothers, a few other family and friends.  VERY small.

The whole theory was that our wedding day was “1 day”.  So to blow $30,000 on one day seemed ludicrous.  The real fun and excitement was going to happen in the years after…and many of those days wouldn’t cost us anything, except time.

Nonetheless, my wife did a masterful job of containing costs (we wanted to pay for the wedding immediately; not finance it through debt).

Here are some of the ways we saved money (in no particular order):

1)  Invited a few people (about 60 people in all).  Since it was a destination wedding, only the people who really wanted to be there, would (barring health issues).  For that matter, we kept the wedding state-side (Florida) so it would be easier/cheaper for people get there (no passport issues, many flights available, etc.).

2)  My wife, Cerece, let me dress down for the wedding.  I really wanted to be relaxed and I wanted a suit that could double as business attire.  I knew I’d save money – I’d wear a suit more than a tux, for sure.  Even if I rented a tux, I wouldn’t save as much money over the mid and long-term.  Besides, being in a tux, outdoors in Florida in the spring was NOT my idea of relaxing.

3)  Cerece and her best friend, Kamishia Lee, made wedding invitations.  Kamishia is an art teacher and she did an AMAZING job on these puppies.  Man!  I wish I could scan one and post on the web.  She’s on Facebook, so if you want something nice, look her up.

4) Cerece got her gown used or at a discount place (I forgot which).  She got the dress she liked for a FRACTION of the price.  Neither of us expected to remarry (“some” people don’t), so her thought was, “Why should I blow a lot on a dress I’m only going to wear once???”).

5) Cerece hunted for flowers, decorations, etc.  She actually went to other places besides the ones the wedding planner suggested, and got MUCH better deals and a better selection.  Apparently, this particular wedding planner, got a finder’s fee if we used her people (maybe they all do it; all I ask is just disclose it).  The planner eventually got pissed and made up some argument about how we owed her more in fees.  I would NOT use her ever again.  So unprofessional.

The wedding was beautiful and both the bride and groom were happy and relaxed – Cerece did all her work upfront and was going to relax come hell or high water, and we did the math, I knew we got a $30,000 wedding for $16,000 (thanks to Cerece!).  I LOVE a good deal!!!

Given that CD sales have been tanking, it was inevitable that labels were looking into getting more of the pie by structuring what are called 360 deals. Basically, labels would give more money as an advance to an artist, but get it back in recorded music sales AND concert tix, merch, advertising, etc.

360 deals are good for artists who can be called brands…maybe the music isn’t that good, but the artist is a character. 50 Cent is a current example. MC Hammer comes to mind too (although, back then, I doubt if he had a 360 deal).

Historically, artists relied heavily on concert tix sales and other non-recorded music sales to put money in their pocket, since the recorded music sales were subject to recoupment of the advance.

I would expect to see more 360 deals, within limit, since not all artists can be seen as brands (multi-talented who can act, perform well, pitch a product, etc).

What’s more interesting is that I would expect more labels to be acquiring non-label companies. Some labels are beginning to do this. One I know recently purchased a merchandising company to bring this function in-house. Imagine that labels would own businesses within the verticals…advertising companies, ticketing companies, merchandising companies, etc. As labels need to grow revenues and profits, acquiring a vertical that can be accretive to earnings immediately or shortly afterwards will be key and expected…barring any regulatory rules, that is.