Exactly - the estimate above just counts the time to make the album towards the cost, but there are many additional costs to add to that: from a financial perspective, the cost of pressing CDs, making sleeves, any marketing costs (making posters, paying for designers, buying ad space, perhaps hiring a marketing person), hiring a plugger (someone who plugs your record to radio stations, magazines, etc. for plays or reviews). For someone self-releasing, the time to do all that themselves (plus some minimal fixed costs, e.g. printing, pressing CDs for sales at gigs, etc.) would need to be accounted for.
Finally, there would still need to be some minimal admin around the publishing to make sure the author rights are protected. I'm not sure there's a DIY route for this other than setting up your own publishing company and getting someone to administer it (but there may be.) This would also take time and/or reduce earnings.
Exactly - the estimate above just counts the time to make the album towards the cost, but there are many additional costs to add to that: from a financial perspective, the cost of pressing CDs, making sleeves, any marketing costs (making posters, paying for designers, buying ad space, perhaps hiring a marketing person), hiring a plugger (someone who plugs your record to radio stations, magazines, etc. for plays or reviews). For someone self-releasing, the time to do all that themselves (plus some minimal fixed costs, e.g. printing, pressing CDs for sales at gigs, etc.) would need to be accounted for.
Finally, there would still need to be some minimal admin around the publishing to make sure the author rights are protected. I'm not sure there's a DIY route for this other than setting up your own publishing company and getting someone to administer it (but there may be.) This would also take time and/or reduce earnings.