Make More Money In The Music Industry - So You Can Do It Full Time!

music business Feb 24, 2021

I've heard a lot lately about Spotify and it not paying very much, and why would you put your music on there? Here's the thing.. if you're just recording, putting out music and relying on the money that you make from streaming or sales, chances are, you're gonna be a starving artist. 

With the exception of having a hit, the music industry is saturated with artists meaning that it's much harder to get your slice of the pie which means you need a few different flavours of pie! 

If you want to make a living from music, it is possible, I make a 6 figure living from music, but that is not all in sales of music and merchandise. You need what we call multiple streams of income. If your love and passion are in the music industry, then those income streams can be within the industry. 

Artists need to be smart with their careers, spread themselves over the industry a little more, do some teaching, get some gigs, create cool merchandise, look into demo recording, and sell writing sessions. There are many ways to make a good living in the music industry, but it won't come from Spotify. 

Use platforms like Spotify, iTunes, Google play, and social media to build your brand awareness and don't use them foremost to make money. When you build your brand awareness then you can start charging a little more for each gig, a little more for each lesson, you gotta build cred! (credibility) and you gotta build your fan base, that way you have more chance of growing your income and reinvesting in yourself, which is also what you need to do to grow your income. 

So cred = more money.. Spotify = a tool to build cred! 

You can definitely make money in the industry .. but it's not a wise strategy to pull all your eggs in the one basket. 

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