I have worked in the music industry for 13 years and one thing I often get as a response from artists is "It's not about the money", which I also used to buy into. I want to tell you why you need to be bothered about money: 1.) You're more likely to collect money from places you didn't know you were earning such as a performing rights organisation, publishers or royalty statements. 2.) Being tapped into your earnings from your music means you're more likely to generate some revenue you can reinvest into your career whether that's marketing or new equipment to take you to the next level. 3.) If you can generate enough income you can start using this to achieve your goals whether that be launching a record label, mentoring and helping others in music, setting up an event, music promo company or anything in between. If extra income can help you progress and take those next steps to being full-time or pursuing your passion projects then surely it's worth getting clued into the best ways to earn money in music and building those revenue streams right!? This doesn't mean you need to be greedy or inauthentic it just means you need to be comfortable with realising the benefits of being tuned into monetisation and revenue streams. #musicmarketing #musicindustry #musiceducation #monetisation
100% agree with all this. I think the apathy is often a defense mechanism.
I hear you but for some of us it really isn't about the money.
It’s kinda the only important thing that anyone should focus on
know your worth. totally agree
Unless you have a benefactor or patron it is always about the money - at least if you want to make music your career. If you want to keep it as a hobby then cool - it’s not about the money. Here’s an article I wrote on this which might be helpful: https://www.linkedin.com/pulse/my-advice-last-thing-you-need-hit-conrad-withey-8kkme?utm_source=share&utm_medium=member_ios&utm_campaign=share_via
Insightful points Jack. Understanding your revenue streams in the music industry is crucial. Knowing where your money comes from helps you reinvest in your career, achieve your goals, and maintain authenticity. It’s not about greed; it’s about being strategic and using your earnings to fuel your passion and growth.
Agreed. As someone who is finding their feet in publishing (alongside a full time job), money has to be one of the main focuses alongside the passion for music and networking. Without money, I'm not progressing anywhere! Shout out to those who have given me a chance in this early stage of my career 👏
Agree completely! I also think that considering monetization helps build structure that can keep more music in our lives long-term, even as responsibilities and priorities change around us. It reminds us that our skills provide true value to others as well, and we deserve to always make space for them.
As important as making money, is all the money you can possibly deduct and save if you manage your art as a business. In the US at least, you can write off expenses like marketing, consulting, home studio and other such costs.
Music Producer, Singer-Songwriter and Multi-Instrumentalist.
3wMy big take-away from uni (music production), which was told to me by one of my lecturers was that as an artist and a producer, I should always aim to get paid, and to avoid doing things for free. This is my work and I need to be able to make a living from it. I don't always ask for cash - I sometimes take payment in the form of royalties on songs, which is often better for my clients, and better for me as it means that I am building a solid referenceable portfolio, as well as building a trickle of income through streaming royalties that will hopefully increase over time.