Financial Advice for Creatives w/ Chris Mermer
Welcome to the Cloud Machine podcast! Your all-access pass to the music industry, brought to you by Eights, the innovative agency behind some of your favourite live concerts and tours.
In this episode, host Mat Landry sits down with Chris Mermer, a CPA, bookkeeper, and the creative mind behind Vertigo Blue. Chris shares his journey in the accounting world, the launch of his new artist-services venture, Gemini, and the importance of financial literacy in the music industry. He also dives into valuable financial advice for all creatives and how his artistic side influences his professional endeavors.
Episode Highlights
Wakes a Good Live Show: Chris shares his thoughts on live shows, including the performances of The 1975 and Turnstile.
Looks & Cooperation vs Talent: A thought-provoking quote segment on the intersection of looks, cooperation, and raw talent in the music industry.
The Music Industry's Future: Chris discusses the changing landscape of labels, publishing, artist transparency, and the balance between quality and quantity.
Chris's Journey in Accounting & Gemini: Chris explains his transition from accounting to launching his artist-services venture, Gemini.
Financial Health Indicators: How to assess the financial health of a creative business.
Budgeting in the Music Industry: The importance of budgeting and staying financially stable while navigating the music industry.
Taxes & Financial Regulations: Navigating taxes and the legalities of running a creative business.
Balancing Accounting & Creative Work: Chris talks about how he balances his work as an accountant with his creative projects.
Saving vs Reinvesting: The decision between saving money and reinvesting it into your creative business.
Advice for Young Creatives: Chris’s tips for creatives dealing with debt and financial pressure.
Diversifying Income Streams: Why and how creatives should diversify their income in the music business.
Staying Updated on Financial Trends: Chris shares his strategies for staying informed on finance trends, including the role of AI in the industry.
Chris’s Top Financial Advice: The importance of cash flow and starting to invest early.
Key Takeaways
Understanding financial health and budgeting are essential for creatives in the music industry to avoid burnout and sustain long-term success.
Reinvesting in your business can lead to exponential growth, but balancing it with saving is important.
Diversifying income streams and staying updated on industry trends can help creatives navigate challenges like debt and fluctuating revenue.
The future of the music industry includes a growing need for financial literacy among artists and creatives, as well as better access to accounting services.
Chris’s top financial advice: cash is king, and investing early can lead to better financial security.
Guest Spotlight
Chris Mermer is a CPA, bookkeeper, and the creative mind behind Vertigo Blue. With a passion for both numbers and music, Chris has merged his expertise in accounting with his artistic side, helping creatives navigate the often-overlooked financial side of the music industry. He recently launched Gemini, an artist-services venture focused on providing financial advice and support to musicians and creatives. Chris is a firm believer in the importance of financial literacy and is dedicated to helping artists build sustainable businesses.
Instagram: @chrismermer
About Cloud Machine
Produced by Eights Creative, Cloud Machine is your go-to podcast for music industry insights. Each episode blends education and entertainment to inspire and inform musicians, creators, and fans.
