Thursday, November 16, 2017

How do musicians make money?

The Breakthrough
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https://www.ultimate-guitar.com/static/article/news/1/63261_0_wide_ver1498891289.jpg@534
Though many bands in the picture above are household names now, they all had humble beginnings. There was a time when they were still practicing poor covers of their favorite bands’ songs, using 2nd rate equipment. A time when they still had to work retail or at a fast food restaurant to finance their dreams. Eventually, somehow, they made it. But how did they “make” it? Of course they had to build a fanbase that supported and purchased their creations, and much work is put into this goal becoming a reality.
First of all, a band/artist needs to get signed to a record label. Usually sending an extended play or sample of their music, they hope and pray that a label will give them a chance and sign them. After that, the label will supply the artists with funds needed to record an album or body of work. This investment is based on the expectation that the band will use the funds to make the most profitable music for the label. A lot goes into the recording of an album: the band will have to find a studio or location to record their music which can cost quite a bit of money depending on how much time they spend in the studio. They will need the proper equipment and instrumentals to make the music they are going for. Technical engineers need to be hired to make sure the songs’ sound quality is the best it can be for what the band is aiming for. Producers will be needed to help the artist with the making of the song and give advice. This can be anything from song lyrics, tone/sound of instruments, engineering the music, giving constructive criticism, or even performing on the song.

After the label has approved what the artist has recorded, there might be advertising or marketing costs for promoting the product. Music videos might be made, and press could be done to shed light on the work. Usually a tour or series of live performances is expected, so the band can promote its new release, spread its presence throughout, and maybe gain new fans.
A certain percentage of the record sales will go to the artist, while a good amount or majority of sales money will go to the record company. A band can make a large amount of its income from a tour if they are popular and can attract a large crowd. These two processes were how bands/artists from the 1960’s to 2000’s made the vast majority of their money. How have record labels changed music now, and how is listening to music different now in this wired world?

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