Doing Audio on a Budget Part 2 – Cut the Cord from the Cloud
Ramit Sethi’s book “I Will Teach You To Be Rich” explained the value of one-time purchases over subscriptions. I’ll note that despite the book’s title, it has very little to do with making money and everything to do with saving money. The key is that money saved with compound interest offers far higher gains than small pay increases. For audio professionals, is there some way we can profit by simply cutting our costs?
Ramit recommended cutting cable subscriptions, and instead purchasing individual seasons of episodes of our favorite shows on Hulu, iTunes, Amazon, etc. The logic here is that while paying for shows might be expensive up front, it saves more money in the long run by forcing us to directly evaluate what we watch. It’s the convenience of monthly cable and satellite bills that keep us paying for TV, even when we don’t watch it.
I advocate for cutting any subscription services for audio software products and services. More companies, like Adobe and Avid, are using the cloud pricing model, charging for monthly subscriptions over single licenses. These companies make substantially more money charging for products on an ongoing basis as opposed to charging for a one-time license fee. Customers opt in more easily and stay around long after the cost has exceeded the value of the product.
If you absolutely need Adobe Audition or Pro Tools 12, then, by all means, use them. When given a choice, however, it’s generally best to avoid products using subscription services. On average, (and yes, you are probably average) they end up costing more money in the long run.