is there just too few people looking on the positive side?
Check out this diagram from http://m.theatlantic.com/business/archive/2011/11/how-musicians-really-make-money-in-one-long-graph/249267/ (or see below)
NOTE: Please check out the diagram first before you read the rest of the article – thanks.
If you are from Australia then basically just double all the numbers on the page to help it be a bit more numerically relevant.
When I first read this I though “Wow, don’t bother putting your music on Spotify” and “how is a musician meant to make money”?
But then I realised – here is eleven different ways to earn income from my music and if I managed to nail all eleven of these then I would earn eleven times the minimum wage.
OK – realistically you may (most likely will) not hit the numbers on all of them, but this is fantastic, I can do all of this without having to wait to be discovered by a record company and having a recording contract.
But wait – there’s more, if I own my own record label – “Ooh yeah baby” then I am in the running for the little grey pieces of pie in the diagram and wait there’s more.
If I know what I’m doing, register my songs, report performances and receive mechanical rights to the songs that I 100% own then I will get a little bit more on top.
This seems like a hell of a lot of work – but I’m up for the challenge.
So let me get this right, If I can get even one third of these results (times by 2 and a bit for Australians) in this chart then I can potentially earn over 3 times the minimum wage. In Australia 2013 the minimum wage is $33k (ish) before tax. Mmm interesting. http://www.fairwork.gov.au/about-us/policies-and-guides/fact-sheets/minimum-workplace-entitlements/minimum-wages
Can someone work out the maths if I only manage to get 20% of the results below for all eleven – how does that add up?
Now ignoring all the numbers, I thought artists could only earn money from live gigs and merchandise sales these days.
Anyone out there doing this and making it work. I’d love to hear from you.
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