The term "executive producer" is commonly used in the entertainment industry, particularly in motion pictures and music. However, executive producers also work in the television and video game industries. Generally, an executive producer handles matters of business related to financing a project, negotiating contracts, securing rights, hiring personnel and deciding when a project is completed to satisfaction and ready for release to the public. How much executive producers get paid depends on whether they invested money, their contracts, and on how much a project earns in revenue.
Motion Picture Executive Producers
In the motion picture industry, an executive producer secures at least 25 per cent of the film's budget. Often, an executive producer may provide the financing for a film out of pocket. According to the Bureau of Labor Statistics, as of 2008, the median salary for producers was £55,861. Depending on the size of the budget, many executive producers earn percentages that allow them to make six-figure salaries from a film. Well-known executive producers earn several hundred-thousand dollars per film.
Music Executive Producers
Executive producers in the music industry have a variety of tasks ranging from selecting the promotion budget and outlining the distribution plan to hiring musicians and scheduling rehearsals and recording sessions. According to Inside Jobs, executive music producers earn between £27,878 and £72,312 yearly. Some music executive producers are salaried while others also receive a percentage from album profits.
Television Executive Producers
Executive producers in television have the task of choosing marketable television shows. Additionally, they may have the dual responsibility of raising financing and managing the production budget. Market size and experience has much to do with how much television executive producers earn. According to Payscale.com, the average yearly salary for a television executive producer is between approximately £37,050 and £81,900. In larger markets such as New York and Los Angeles, the average yearly salary ranges between £57,850 and £113,750 (New York) and between £48,100 and £99,450 (Los Angeles).
Video Game Executive Producers
According to Animation Arena, one of the fastest growing industries is the video game industry with revenues of more than seven billion dollars annually. Executive producers for video games are responsible for managing budgets, supervising departments and ensuring that deadlines are met. As such, yearly salaries start at £32,500 annually and may increase to as much as £53,300 annually after six years of experience.