Looking beyond streaming and live gigs, we explore how musicians and music creators can make money from their music.
Independent artists increasingly have portfolio careers – they need to manage multiple revenue streams to build career momentum.
For independent artists, streaming is their primary source of income at 28%. Live revenue is second at 18%, which means they are less exposed to lockdown’s impact than established label artists. But the key for today’s artists is to make revenues from multiple professions, such as publishing, session work, sponsorship and merchandise.
Artists should think of themselves as small entrepreneur businesses, and they may need four or five income streams to get off the ground.
Vic Galloway - BBC broadcaster, journalist and musician
Sandra Croft - Coordinator for Europe and the UK at CD Baby
John Maxwell Hobbs - CEO at Delic
Mike Burgess - Independent Business Affairs and Rights Management Advisor
Gee Linford Grayson - UK Creator Partnerships at Patreon