Electrical Audio Pays Off Mortgage All By Itself

By Michelle Meywes Kopeny in Arts & Entertainment on Sep 2, 2011 4:00PM

The folks at Steve Albini’s recording studio, Electrical Audio, are celebrating (apparently while Albini sleeps) after receiving the official letter that their mortgage has been paid off, without any one's help.

The announcement was made on their message board, oddly enough in the same thread that was started a year ago by Tim Midgett, of the band Silkworm, to kickstart a campaign to “Pay Off Electrical.” The studio was quick to point out that they were not in any financial distress and this was not for charity, just simply a call for a generous gift. As Midgett said, “So many great records, made at this studio, for so little money. So many friendships and romances, forged on the pages of the Electrical Audio forums (which are FREE to use). Let’s see how close we can get to paying off the remaining balance of the studio’s mortgage.”

After pledges stalled, Midgett called off the campaign (none of the money was collected unless the goal was actually reached), but the studio was able to do it all on their own. Who says recording studios ain't still profitable?