by Mike Masnick
Wed, Feb 4th 2009 1:25am
We recently wrote about Corey Smith, a musician who had gone from a weekend amateur to supposedly earning $4.2 million last year. We took that number from our source, though some folks in the comments questioned it. Bruce Houghton was kind enough to republish my post, and there was some skepticism in the comments there as well. So, Smith's manager stopped by Hypebot to clarify: it turns out that Corey grossed $4 million last year, not $4.2 million. Specifically, it was $3.5 million in touring and $0.5 million in merchandise. He also clarifies that these are gross, not net, numbers, but I don't think anyone was assuming otherwise. Even if we assume (for sake of argument only that the margins on all of this is 10%, he still did damn well, and I'm guessing the margins are significantly higher. One point that I did want to clarify, which Corey's manager didn't do directly, but which led to some confusion in my initial post: while he does offer $5 tickets to his shows, it does not mean that all tickets to all of his shows are $5. That may help to explain some of the discrepancy as well.
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