If you’re an independent or unsigned artist, you may wonder how much you can make off your music.
According to Forbes, independent artists make on average $12,860 per year from music sales. Major label artists can make an average of $23,913 per year.
These numbers may seem small. When compared to million dollar deals that some major label music artists receive.
It’s important to remember that these are averages numbers.
Independent artists face many challenges trying to make a living off their music.
With the rise of streaming services and the decline of physical album sales. Independent artists struggle to make a steady income from their music.
Why You Should Consider Staying Independent
When you hear these numbers, you may start to wonder if a record deal is worth it for an independent artist. It’s important to consider more than the financial aspect of a deal.
While a record deal may offer a higher salary, it may not be the best decision for you as an artist.
It’s important to consider what other opportunities a record deal may bring. Think about the percentage of your earnings you may have to give up.
Hustle Harder and Smarter as an Independent Artist
If you’re an independent artist, focus on hustling harder and smarter.
It may be difficult to make as much as a major label artist, but it’s still possible to make a decent income from your music.
It’s important to sell your own music and perform at shows to increase your earnings.
Selling directly to your fans and avoiding streaming will get you the most money.
Why You Shouldn’t Rely on Record Deals
Remember that record deals are not guaranteed. Even if you do get a deal, it doesn’t mean you’ll become a millionaire.
Many signed artists never become household names. Most never see the success they hoped for. It’s important to have realistic expectations. Don’t bet on a record deal for your income.
Factors That Influence Earnings
There are many factors that can influence the earnings of independent artists. Some of the most important factors include:
The artist’s genre:
Some genres, such as pop and hip-hop, generate more income than others.
The artist’s audience:
Independent artists with a large fan base can make more income from their music.
The artist’s business model:
Some independent artists choose to sell their music directly to their fans. While others rely on streaming services and other platforms to generate revenue.
The artist’s marketing and promotion efforts:
Successful independent artists invest time and resources into promoting their music.
Conclusion
It’s important for independent artists to remember they can make a decent income.
By selling directly to fans you can make way more money than streaming.
While record deals may offer higher salaries. It’s important to consider the other opportunities and money you may have to give up.
Always have realistic expectations and don’t rely on a record deal for income.
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