Jordi Cubino: "My concept of saving is having investments"
The Catalan producer explains his relationship with money and work
His mother owned more than 1,000 classical and operatic records, and at home, Montserrat Caballé, Beethoven, and Tchaikovsky were always playing. So it's no surprise that at just 12 years old, Jordi Cubino (Sabadell, 1966) was already playing in an orchestra at weddings, baptisms, and first communions: "I started earning little money, but I was earning." At 16, he recorded his first album: "It was number 1 in sales in Spain," he explains in an interview withCompaniesSince then, he has always been involved in the music industry.
Throughout his career, Cubino has produced many works and several musical hits, including pieces by Luis Fonsi and songs for Estrella Damm. All of these hits They've made him a lot of money, but the most profitable topic was Latin HeartDavid Bisbal's album. Even so, what he is most satisfied with is the La Marató de 3Cat album: "I've been one of the producers for 20 years now. It doesn't give me money, I don't earn anything. But, on the other hand, it gives me a lot of satisfaction."
The current director of the 3Cat talent competition Euphoria He asserts that jobs with the highest media pressure aren't always the best paid: "For example, television appearances are important and pay well, but they're not the highest-paying jobs." "Media presence is an investment in myself," because, Cubino says, it leads to new job opportunities that compensate him: "I get another job through the studio that pays very well, with 20% of the effort I put into television." The same is true for advertising, the most profitable job he does. "Money isn't the goal. It's the consequence of a job well done. And I've never placed much importance on it," he explains.
"The work I enjoy most is making television. What I like most is producing in the studio. What I like least is being a businessman. I don't like it at all. I hate it. I delegate all the financial aspects," says Cubino. The producer from Vallès runs a company of 14 employees: "It's a very high volume of work. Between programs and production, we can produce 16 or 18 shows a week. One person alone can't do that." During the COVID-19 pandemic, the company's activity came to a complete halt, and he had to reduce his staff to 6 employees, but he didn't suffer financially because he had already made investments.
"Money can't stay in the bank."
In fact, he believes money should be circulating, not sitting idle: "Everything I earn I invest. Money can't stay in the bank, because then the only ones who win are the banks." He invests the most money in recording studios, 40% of the company's profits: "Another 40% or 45% goes into real estate. And I save the rest, but it's not much because I don't like to. My idea of saving is having investments." He maintains that housing is a very good place to invest and make money because you can buy it, fix it up a bit, and sell it for much more: "No bank will give you that kind of return (...). When banks give you 8%, that's already amazing. But this way you can earn 35% or 45%." However, he acknowledges that there's a housing crisis: "It's very sad because young people have a very hard time accessing housing. There are investors willing to buy luxury apartments for millions of euros."
On the other hand, he invested in the stock market for five years: "Making a lot of money and losing a lot of money. In the end, I was back where I started. All this suffering, for not gaining anything, is absurd." "If you play the stock market, you have to be a professional who's on top of things every day, and I'm not," he emphasizes. According to the producer, buying a car is the worst investment you can make: "The moment it leaves the dealership, it's worth 30% less." But it's his indulgence: "I used to have three cars in the garage. One day I said, 'Why do I want two cars that I only take out two weekends a year?'" Now he has one that he changes every three years.
Cubino emphasizes that he's in a very good place professionally, but his fast-paced lifestyle has repercussions: "The pressure I'm under is making me lose my personal life. Right now, I'm sleeping five hours a day, from Sunday to Sunday. And I'll be like this until May, until we finish." Euphoria"Economically, he could retire now, but he doesn't want to: 'I like my job, and if I stopped, I would feel useless.' He has many projects he still wants to bring to fruition."