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Talking dollars

I always appreciated people speaking unambiguously about their income, like Maciej Ceglowski who on stage at XOXO honestly and unapologetically told the audience that he made $181,000 last year. It’s out there and the taboo is gone. It must be freeing to him and to some extent I’m sure to the people around him too.

Talking about money is something individuals in our industry often awkwardly avoid. We all know there is a lot of it going around, but everyone’s just in it for the love of solving problems and making the world a better place, riiight?

I’ve been thinking of opening my books too, considering that I’ve been very transparent with everything else happening behind the scene. Having spoken to a lot of folks in the tech world, there is a bit of a misconception in that some people think Offscreen is very successful in dollar terms. Those who are vaguely familiar with how traditional publishing works understand though that ‘success’ in this field is closer to ‘making it sustainable’ than ‘getting rich’.

So, here it goes. Here’s how ‘successful’ Offscreen is in numbers. (Don’t forget to read my notes below.)

Income through magazine sales (online and retailers): $138,963.08
Income through sponsorships and other channels: $42,880.53
Total revenue (financial year 2012/2013): $181,843.61

Printing costs: $36,526.17
Shipping/packaging costs: $42,701.87
Other expenses: $37,774.34
Total expenses (financial year 2012/2013): $117,002.38

My profit/income for the last financial year was $64,841.24 before tax.

Some important notes to keep in mind:

  • The financial year in Australia runs from the 1st of July to the 30th of June the following year. All numbers in US dollars, converted from Australian dollars at the current rate of 1 AUD = 0.939 USD.

  • This may seem like a high salary in some places in the world, like Berlin where the cost of living is low. Offscreen is based in Melbourne, Australia, where the cost of living (in my opinion) is closer to that of New York City.

  • The financial year above covered the expenses and income of three issues of Offscreen.

  • Offscreen is my full time job. I currently don’t have other sources of income.

  • Offscreen does not employ any staff. I hire freelancers and contributors to help get an issue done. Their cost is reflected in the ‘other’ section of the expenses above.

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