The average musician spends more time marketing than making music.
We’re told thanks to streaming platforms such as Spotify the music industry is experiencing a revival.
So, musicians industry-wide must be getting rich – right?
Well someone’s getting rich, but chances are if you’re a musician working under the current streaming model, it’s not going to be you!
In fact, recent figures from the Music Industry Research Association has revealed that the average musician currently makes between $20,000 to $25,000 per year from music-related sources such as downloads, gigs, merchandise and streaming. Compare that to the average Uber driver who apparently earns $30,000 per year, and it becomes clear how little reward artists receive for their talent and hard work.
Comments from our musician members make it clear that between low streaming payouts and having to spend up to 75% of their time marketing and promoting their music, they’re left with very little time to write new songs and perform.
With this being a common scenario for the majority of musicians it’s no wonder few can afford to give up their day job.
So, what’s the future looking like?
Well for those sticking with existing music platforms much of the same. For those willing to broaden their horizons there is an alternative, a new platform in development from Go To Hear. You can find out how Go To Hear compares with other music services here.
It’s a chance for musicians to break the cycle. With an inbuilt marketing and promotion mechanism, viral sharing and a network of promoters, labels, musicians, fans, and listeners to connect to, you can reduce how much time you have to spend managing your profile and getting your name out there.
Join our community-based ecosystem where you can earn through monetising your fan base, you can even incentivise your fans to promote your music, leaving you time to be creative.