Updated: Aug 20, 2019
In case you are trying to figure out how to make money as an artist through music the solution is to stop making music your hobby. Start acting like music is your business. Music pays.
Songwriting & Composing
1. STREAMING REVENUE
Interactive streaming is now number one driver of recorded music revenue worldwide. Paid streaming accounts for largest share of artist sales . Meanwhile in the 21st century consumers are dropping paid downloads & physical cd's and are turning to digital streaming.
There exists hundreds of millions of premium subscribers across digital streaming services worldwide. In fact the chance to blow up this already crowded market is relatively high. Of course with a unique music releasing plan.
2. LIVE APPEARANCES
Unlike streaming revenue, performing artists are basically paid a bunch of money for a live performance at a single go. Mainstream artists charge up to a million dollars just to showcase their talents for a couple of hours say 2 on stage . For instance tickets to Drake's shows are as high as $1,000.
Music artists including producers and deejays are booked to perform live in clubs, parties, events, shows, concerts and tours. Just to name but a few. 'Show money' is the backbone of performing artists.
Featuring more established artists on an up-coming musician's project is a key to success in rap career. Say you've worked your way up the music industry ladder. Other artists in the business pay to feature you in their releases including audios and videos.
According to Jay Cole and other sources for instance, he was paid up to $450,000 for the verse in Young Thug's project 'The London' .
" A verse for me is like 11 birds . I did the math it's like $2,000 every word, " Jay Cole's voice.
4. RECORD LABELS
Have you ever wondered how you will make money by getting singed to a label ? Record labels typically pay artists 10 to 25 percent. The label manages content distribution, promotes and heavily invests in artists and their music. They also pay a percentage of streaming royalties to artists. Most of mainstream recording, songwriting & producing artists are associated with major record labels namely Warner, EMI, Sony, BMG, Polygram and Universal. Labels pay an upfront advance to artists which can be up to $100,000 more or less depending on how established the artist is.
Many hip hop artists claim to be independent yet they are associated or affiliated with record labels. Just saying. That's actually non of our business but artists have to be popping to get a record deal.
However, as an upcoming artist recording straight from the basement "you can make millions of dollars through Tunecore !" According to Russ.
5. SPONSORSHIP DEALS
Inclusive of artist endorsements, advertisements and brand partnerships .