“How do I make enough money as a musician so I can transition into a full-time music career?”
I imagine that’s the big question many aspiring and emerging independent artists wonder about.
After all, it’s believed by some that there’s no real money in music. After seeing the total music revenue in the U.S. dip in 2006, things have started to show growth again since 2015.
According to a 2018 report cited in Rolling Stones:
- U.S. listeners are spending more money on music than ever before: over $20 billion a year.
- Total music revenues have risen to about $43 billion a year, which includes on-demand streams, CD sales, radio play, live events, advertising.
There’s definitely money to be made from music, but unfortunately, most of that money isn’t going to the artists themselves. Artists only take home $5 billion, or about 12 percent of total music revenues. So what can you do about it? Read More