KEN Mode Drummer Writes About the Business Side of Being in a Metal Band
It’s pretty well known in metal circles by now that brothers Jesse and Shane Matthewson of Canadian noise metallers KEN Mode are quite savvy businessmen who run the monetary side of their band with a certain attentiveness you don’t often see in metal world (or even music at large). They’ve talked about here and elsewhere quite a bit, but never before have we gotten the nitty gritty of exactly HOW and why they do it.
In the inaugural edition of a new column for Gear Gods, Shane — who is a Chartered Accountant — starts tackling some of the most common questions he’s been asked about how to most efficiently manage a touring band’s finances. For example, he offers the following on keeping track of the money a band spends while out on the road:
In conversations I’ve had with friends in touring bands, one thing that has become immediately apparent to me is that most bands don’t know what the “operating costs” of their band are. Everything from the gas mileage of their van, to amounts spent on food, all the way down to drum sticks; every dollar spent on the band, whether it’s “band money” or personal funds from the members themselves, should be recorded. Keeping receipts for expenses is important, especially for tax purposes, but particularly in order to have an accurate record of how much was spent and on what.
Makes perfect sense, right? If you’re in a touring band looking to get a handle on how to earn more money while out on the road (or at least lose less money), we highly recommend you read the rest of Shane’s article and stay tuned to Gear Gods for future installments.