“Probably won’t make no money off this…”
Updated: Sep 21, 2022
(I'm really hoping you caught the Beyoncé reference there...)
"Can you still make money from music?"
The short answer? Yes.
The long answer?
It depends on what you're doing and how.
Are you a producer? Singer? Songwriter?
Are you independent? Are you signed? If so, how does your contract work?
In the digital age, it is a LOT easier to put your music out there and this is true for most people. Gone are the days where you can sell a CD for £10. You would need around 1000 streams (give or take) to make that same £10 on Tidal and even more on another streaming platform. (Tidal apparently pays the best royalties at approx 0.01284 per stream).
Aside from streaming though, there are other ways to make money from your music. One of the best is live performances. You can put on a show and sell tickets and merchandise to make money. You can also be booked to perform at shows and festivals. The festivals don't need to be massive headliners like Glasto or Wireless. There are other festivals out there that are willing to pay performers their rate for a show that you can put all of your best artistry into and put on a hell of a show. You can submit your music for television shows, adverts, movies etc. I met a guy whose music was played on Love Island and on an Apple advert. This not only paid but gave him exposure for his music to be discovered and explored.
There are other intricacies like whether or not you're independent or what deal you have (if any) which is whole other kettle of fish. (Read about the role of record labels here)
What if, like myself, you don't sing or rap? You can earn money by producing music; selling beats or samples to artists or even creating packs for other producers. You can collaborate with other artists and bands and, if you're a musician, you can make money by joining a band and performing or even teaching. If you're not musical at all but do love the field, there are many transferrable skills you can use within music business that are not only essential but have potential to pay well. i.e management, A&R, press officer..
So, can you make money from music? Absolutely!