Mike Portnoy's income?

[SnakeEyes]

I was just watching the Portnoy interview that was just posted and I got to thinking about how Portnoy's income has changed now that he's not in DT.  I mean, that's one of the reasons the other guys wanted to keep going, because they make their money from touring.  So, now that Portnoy isn't touring with DT, does he a) make as much money as he did with DT and b) if not, will he be able to make it up with other projects?  

[njdtfan]

No offense Snake, but I am sure Mike is doing fine. With the projects in the works, I dont think thatsan issue. Either way, it is none of our business.

[SnakeEyes]

Why would I take offense?  There's nothing in your post that was rude or inflammatory.  By the way, I wasn't asking how much he makes, just whether his leaving DT affected him a lot financially.  I thought it would be an interesting discussion.  But, the mods will lock it if they think it's inappropriate.  My apologies if it is....

[Adami]

Why would I take offense?  There's nothing in your post that was rude or inflammatory.  By the way, I wasn't asking how much he makes, just whether his leaving DT affected him a lot financially.  I thought it would be an interesting discussion.  But, the mods will lock it if they think it's inappropriate.  My apologies if it is....

MP will still make as much money as he did from the royalties. What will hurt him is the touring. The A7X gig probably helped A LOT. But after that, he will most likely not be playing to crowds as large as DT plays to and as often, that will hurt him a bit.

[njdtfan]

Why would I take offense?  There's nothing in your post that was rude or inflammatory.  By the way, I wasn't asking how much he makes, just whether his leaving DT affected him a lot financially.  I thought it would be an interesting discussion.  But, the mods will lock it if they think it's inappropriate.  My apologies if it is....

No prob Bro. I hear where you are coming from, just feel it is none of our business either way. No offense intended.

[SnakeEyes]

MP will still make as much money as he did from the royalties. What will hurt him is the touring. The A7X gig probably helped A LOT. But after that, he will most likely not be playing to crowds as large as DT plays to and as often, that will hurt him a bit.

But, that's what I'm saying - I would imagine that DT made some pretty good money from touring since they have been getting progressively (no pun intended) more popular.  I would assume (obviously, I don't know for sure) that, in order to make the same amount of money, Portnoy will probably have to do more session work and guest appearance.  In other words, he'll have to play more. 

Right?

[Adami]

Yes, he will be hurt financially because of the touring changes. To what degree? Who knows. But yea, I'm sure he'll still be doing just fine, but there's no way he's going to capture the same touring capacity that DT has.

[rumborak]

I can't imagine the royalties factoring in that much into a musician's income.
So yeah, I think the income will have dropped significantly since his leave from A7X. And realistically, unless he starts a new band and got that going big, his side project won't be anywhere near what DT raked in.

@njdtfan: No offense, but DT aren't deities. I think this topic is perfectly fine.

rumborak

[Nick]

Simply put, no project MP has worked on (A7X excluded), or is currently working on will ever pull down nearly the income that DT at their current level did. I'd bet MP has enough saved up to do whatever projects he would like for awhile and not think about money, but in the long run I'd think he'll either have to take a step down in terms of standard of living, or he'll have to take a gig that pulls in some serious income again.

[SnakeEyes]

Yeah, Nick, that's what I was thinking.  It'll be interesting to see what he does, career-wise, over the next few years. 

[Adami]

Yeah, Nick, that's what I was thinking.  It'll be interesting to see what he does, career-wise, over the next few years. 

I would assume some instructional DVD's that aren't so DT focused. Possibly doing major tour work for a popstar.

[rumborak]

It all depends on what he will do. Right now he's calling in favors, and that will keep him afloat for a while musically (financially, who knows how well he managed his money). The big question comes when he has to start something substantial again. I for one am neither interested in his Allen nor his Morse collaboration, and I know I'm not the only one. However, I would give a new proper band of his a serious shot.

rumborak

[njdtfan]

I can't imagine the royalties factoring in that much into a musician's income.
So yeah, I think the income will have dropped significantly since his leave from A7X. And realistically, unless he starts a new band and got that going big, his side project won't be anywhere near what DT raked in.

@njdtfan: No offense, but DT aren't deities. I think this topic is perfectly fine.

rumborak

Never said they were deities. Dont have a problem with the topic. Just saying in the overall picture, it is none of our business. Just saying, who cares what Mike makes, it is his business. If he thought fiancially it would hurt him, in the long run, he weighed his options. So be it. Again, not trying to slam you dude. That is not my intent. Hope we are good.

[Infinite Cactus]

I tried searching for him at celebrity net worth but all I could find was JP https://www.celebritynetworth.com/richest-celebrities/rock-stars/john-petrucci-net-worth/. No sure how accurate that is but either way, I'd say that's a start.

[njdtfan]

It all depends on what he will do. Right now he's calling in favors, and that will keep him afloat for a while musically (financially, who knows how well he managed his money). The big question comes when he has to start something substantial again. I for one am neither interested in his Allen nor his Morse collaboration, and I know I'm not the only one. However, I would give a new proper band of his a serious shot.

rumborak

Calling in favors? From whom?

I can appreciate your take on the Allen & Morse stuff. I for one am interested in it. So again, we will have to agree to disagree.

Again, in the big picture, why are people so concerned about Mike's finances?

[robwebster]

I was just watching the Portnoy interview that was just posted and I got to thinking about how Portnoy's income has changed now that he's not in DT.  I mean, that's one of the reasons the other guys wanted to keep going, because they make their money from touring.  So, now that Portnoy isn't touring with DT, does he a) make as much money as he did with DT and b) if not, will he be able to make it up with other projects?  

Well, right now Mike Portnoy's doing exactly what he planned to do all along. Dropping DT for a year and making lots of music with sideprojects - so it's certainly something he always thought was financially viable. If he was going to voluntarily put the band to one side, he's unlikely to have made unsustainable financial sacrifices in the process.

Regarding the fact that he did - and the rest of them do continue to - make money from touring with DT... apparently, the last tour made a loss. Would that've been calculated after the members had each deducted a wage from it, or did they come to the end of the tour, realise they'd not got their investments back, and go "Right, I hope Rena likes porridge?"

I figure it's almost certainly the former, but if it's the latter then it's very possible Mike's slightly better off, financially.

[DreamerTV]

I know it's an OT but regarding this

apparently, the last tour made a loss

i've tried to talk about this a couple of time here, but i hadn't much answers... So, it's not only me, or we got confirmations of this?!. 'Cause i've found me thinking this about PN, not South American Leg

[hefdaddy42]

I've never heard that the last tour was a loss.  The only thing we've heard publicly was that the last ProgNation in North America pretty much broke even.  I'm sure that the rest of their tour legs were highly profitable; they just didn't tour again in North America, except for opening for Iron Maiden (which was pure profit).

[Odysseus]

Again, in the big picture, why are people so concerned about Mike's finances?

I don't think they are - it's just a question I guess, like the thread about DT's hair extensions hehehe....

I expect MP's income will reduce slightly, but the guy doesn't seem to lack any work ethic in terms of projects.  That said, he may have a little more time to spend with his family, which is never a bad thing IMO - time is our most precious resource... and it's finite.

[ariich]

Simply put, no project MP has worked on (A7X excluded), or is currently working on will ever pull down nearly the income that DT at their current level did. I'd bet MP has enough saved up to do whatever projects he would like for awhile and not think about money, but in the long run I'd think he'll either have to take a step down in terms of standard of living, or he'll have to take a gig that pulls in some serious income again.

While this is true, simply the abundance of projects is bound to rake in a reasonable amount. Plus he'll continue to get royalties for all the DT stuff that he played on.

[MykeHavoc]

Most major artists openly state that you don't make money off of album sales anymore. Merch and touring is where it is at.

[rumborak]

It all depends on what he will do. Right now he's calling in favors, and that will keep him afloat for a while musically (financially, who knows how well he managed his money). The big question comes when he has to start something substantial again. I for one am neither interested in his Allen nor his Morse collaboration, and I know I'm not the only one. However, I would give a new proper band of his a serious shot.

rumborak

Calling in favors? From whom?

Well, from exactly those people, Allen, Morse etc. That's currently his "friend circle" that he could easily phone up and suggest a project with.

rumborak

[Perpetual Change]

How is Allen in his friend circle?

[rumborak]

Didn't they tour with SymX extensively in ProgNation?
I'm not saying him and Allen are BFFs, but rather that he's calling and doing projects with people who he had made connections with during DT time ("hey, remember us talking about doing a project? You up for it?"). Nothing wrong with it, all I'm saying is that those things are mostly short-term projects, nothing like a proper band that would ensure work for the next 10 years.

rumborak

[bosk1]

Most major artists openly state that you don't make money off of album sales anymore. Merch and touring is where it is at.

This.  Mike's income has almost for sure dropped substantially.  I'm sure he made enough on the A7X tour to get by for a little while, but as far as what he has going on right now, I'm sure he is taking a hit.  Merch is the biggest profit margin, but you don't make much money on merch unless you're touring.  He might have been able to negotiate a cut on some future merch that is sold, but who knows?  He won't get the lion's share of it as he once did.  He also won't get the touring revenue.  Those are the biggest.  It is likely he will still get royalties, but as already stated, that's a relatively small amount--especially for a band like DT.

As far as the side projects, keep in mind that side projects usually don't make much money and more often than not LOSE money.  I highly doubt he's doing the side projects to earn income.  He is probably doing the side projects to keep his name out there so he can land something else (whether another band gig or some other project that will bring in income) that will pay.

[olliemedsy]

Yeah, Nick, that's what I was thinking.  It'll be interesting to see what he does, career-wise, over the next few years. 

I would assume some instructional DVD's that aren't so DT focused. Possibly doing major tour work for a popstar.

He has, he toured with A7X last year

[SystematicThought]

When it was brought up that PN 2009 broke even, that's pretty surprising to me. That had a lot of bands involved and the fact that it seemed to be their biggest show in terms of screens and lights. The light show was bright and extravagent, compared to the SC tour which seemed dark and sparsely lit

[goo-goo]

I think with Neal Morse he's a hired gun, which basically means he will get money out of it (recording and touring) even if the tour doesn't profit. I can't remember where I read something about someone's project that it didn't cover the costs of the hired guns, that's what triggered this possibility in my mind.

The same could be for the Allen/Orlando/Portnoy...Maybe Allen and Orlando had written something and just needed a drummer...I'm not sure how this project started.

As far as the DT touring monies, that pretty much ended. Also depending on the contract/settlement language, maybe MP will preserve the YTSEJAM bootlegs ( a la Robert Fripp overseeing pretty much everything) and share/split the earnings from the official boots.

[2Timer]

I'm sure he won't be hurting. Aside from music, he seems like the kind of guy who was smart enough to make some investments when DT starting making better money.

[rumborak]

I'm sure he won't be hurting. Aside from music, he seems like the kind of guy who was smart enough to make some investments when DT starting making better money.

Well, there's different kinds of hurting. If you have to pay regular mortgage for your mansion, having a sudden drop in your income is going to hurt.

rumborak

[SnakeEyes]

That's what I was thinking, rumborak.  ^ 

I mean, that house of his is gigantic.  It must be scary for him to not have that money coming in anymore (DT money, I mean). 

[njdtfan]

This topic is really getting old. I am "sure" Mike would thank everyone for their concern over his reduced income level. As we all know, Mike is meticulous in basically everything he does. Do people honestly think he would continue to do projects where he would continue to lose money. I mean talking about the guys mortgage etc. How do any of us know he even has one. Maybe with all the cash he made he doesnt even have one. Give it a break already.

[JasonScandopolous]

That's what I was thinking, rumborak.  ^  

I mean, that house of his is gigantic.  It must be scary for him to not have that money coming in anymore (DT money, I mean).  

I actually know people with houses like that in similar areas (south jersey rather than east PA)... wouldn't be surprised if it was less than $500k.

Actually, I took the time to get the actual value (using public records [you can do this for any house in the US, I believe]):

Previous assessments

    * $252,900 on 2010
    * $252,900 on 2009
    * $245,450 on 2008

So, this is actually a case of a very nice house being in a not-valuable area (too far from philly, not even close to NY), resulting in it having the same value as a piece-of-shit residence in a high-demand area (e.g. run-down house near a university, any suburban house on long island/north jersey/north philly).  For those not in the US or without a good intuitive feeling for the value of a $, this is probably an average price for a US household, and a below average price for a suburban household.

I should mention that this is not something that any of us should be caring about, I was just bored; I'm sure MP has been and will continue to be fine, financially.  hopefully everyone can say the same for themselves!

[SnakeEyes]

This topic is really getting old. I am "sure" Mike would thank everyone for their concern over his reduced income level. As we all know, Mike is meticulous in basically everything he does. Do people honestly think he would continue to do projects where he would continue to lose money. I mean talking about the guys mortgage etc. How do any of us know he even has one. Maybe with all the cash he made he doesnt even have one. Give it a break already.

No, your posts are getting old.  If you're not interested in the topic, that's fine - just stay out of it.  "No offense intended."  If any of the mods felt it was crossing the line, the topic would be closed. 

Jason: interesting. 

[njdtfan]

This topic is really getting old. I am "sure" Mike would thank everyone for their concern over his reduced income level. As we all know, Mike is meticulous in basically everything he does. Do people honestly think he would continue to do projects where he would continue to lose money. I mean talking about the guys mortgage etc. How do any of us know he even has one. Maybe with all the cash he made he doesnt even have one. Give it a break already.

No, your posts are getting old.  If you're not interested in the topic, that's fine - just stay out of it.  "No offense intended."  If any of the mods felt it was crossing the line, the topic would be closed. 

Jason: interesting. 

Never said it crossed the line, and i Have trust in the mods if they felt it was they would lock it. "No offense intended" Snake, I have just stated my opinion, if you prefer not to read my posts well then skip them. But please do not tell me to "stay out of it". Peace.