Hi folks. I was recently asked to produce 6 10 minute soundtracks for a virtual reality wellness space, but I have no idea what the going rate for original music is these days. The project is non-broadcast and they would have in perpetuity rights to the music, although I am not selling off ownership of the music. Music needs to be created to accommodate different physical, mental, emotional, and spiritual needs, so I don’t necessarily want to have to curate through an existing library. Can anyone tell me what the current value of 60 minutes of original music would be in this project?
Take a look at a few such projects on sounddogs, see what those artists charge. You’re probably not going to like what you find out, regarding price. There’s a whole lot of competition, driving the pricing down in this field. And many people (me included) tend to just buy loop-based program like SonicFire pro and let it custom-build my tracks automatically, one price, one time, no rights issues, built to fit any length, ready in seconds, clients usually love them. There is still a place for more elegant and creative, bespoke, hands-on music creation, but it tends to be for bigger-budget work than I get to work on.
Are you talking about composing original music from scratch or building a soundtrack from existing loops and elements? If the former, then there is no current rate. It’s whatever the composer can negotiate. 60 minutes is a lot and on par with an indie film score. In that scenario, with the composer retaining the rights, the cost can range from $2K – $50K. Meanwhile needledrop for non-broadcast might be as low as $50 per track (2-4 min).