INTHEBLACK July 2026 - Magazine - Page 22
F E AT U R E
“Being across revenue-generating opportunities, such as
offering VIP fan experiences to support regular ticketing
income, can improve [an artist’s] profitability,”
PAUL LUCZAK CPA, THE GILD GROUP
director of Sorrento Strategic Accounting,
as well as lawyers, marketing and PR
specialists, music publishers and distributors.
“It takes a village these days,” says
Thompson, a music-loving accountant
who has been supporting independent artists
for three decades. She encourages clients
to focus on good asset management in
addition to their musical skills. “In order for
an artist to stay authentic, it is important
for them to keep creative control and
ownership of their intellectual property.”
Thompson adds that musicians should
have a mindset of being “the CEOs of
their business”. While streaming has made
music more discoverable, she says it has also
devalued music as a product, making it crucial
for artists to prioritise touring, merchandising
and brand deals. “You have got to get out
there to try and make some money, because
streaming is not going to cut it.”
Butler’s wife, musician Danielle Caruana
(aka Mama Kin), agrees it is crucial for
modern artists to become entrepreneurs
who pursue partnerships and multiple forms
of revenue through a direct-to-market model.
“The burden and the opportunity for the
music industry is that now, more than ever,
the most important thing for artists is to
connect directly with their fans,” she says.
With the algorithms that drive Spotify
playlists, TikTok feeds and YouTube
recommendations determining what the
world hears, Caruana says such platforms
have become the new “gatekeepers”
of music choice, rather than record labels
and radio programmers. “You can have
30,000 followers, but your posts may only
go to 7 per cent of those people.”
When performing or touring, Caruana
never misses an opportunity to get fans’ email
addresses, postal addresses or other contact
details. This allows her to connect directly
with them, rather than spending money
on social media platforms.
Validation of this approach came last year
via chart success for her two-person band
Mama Kin Spender, with its album Promises
peaking at No. 2 on the ARIA Top 20
Australian Albums chart in August 2025.
“Not one of those sales, not one of those
metrics came from streaming platforms,”
Caruana says. “That was purely through
direct contact with our fan base.”
MUSIC AS AN INTANGIBLE ASSET
With the aid of accountants, Kylie Thompson FCPA, director of Sorrento Strategic
Accounting, advises entertainers to take advantage of music’s value as an intangible
asset. To do so, she lists a five-point plan:
1. Think of your intellectual property (songs and recordings) as a resource that
can be licensed repeatedly.
2. Build a catalogue sales strategy featuring different versions and remixes of songs.
3. Register and protect your copyright.
4. Look at potential sync-licensing deals through television, gaming, apps
and podcasts.
5. Maximise the value of back catalogues of recordings.
22 INTHEBLACK July 2026
