Last updated on 12/17/22
The music industry can be overwhelming. Just like running your own business (because that’s what it is!), there are a lot of things to think when it comes to managing your enterprise. When you’re working solo and can’t afford to build a team yet, it helps to have a solid overview or plan on how you should go about making a living from your music.
As an independent artist, you have 4 general business models you can adopt to mold and build your music career around. These aren’t “official” models, but it should provide some clarity about which approach is best for you.
Although I will talk about them distinctly in their purest form, their characteristics aren’t mutually exclusive. This means you can technically incorporate different aspects of all four models at once. Certain characteristics will overlap so there’s not a black and white distinction between each model. In time, more business models for music will certainly emerge as the industry and technology are constantly evolving. For example, the rise of blockchain technology and NFTs in Web3 will certain reshape how the music industry operates in the near future. Read More