There was a time when people did not really discuss money in underground artistic and ministry circles, but I think it is becoming far more widely acceptable that many people make all or part of their living in the music and entertainment business. Everyone has their own opinions and viewpoints on where they feel comfortable, some feel their music should impact the mainstream, others feel it should be kept for ministry or artistic purposes, and most listen to all types of music, and find their own balance somewhere in the spectrum. If you want to make all or part of your living from music, you should understand, depending on your choices, it is not always easy, but here are a few options.
Get A Creative Job
Some work full time where others pay them for their work. Companies may have jobs available in the film, TV and radio industries. Sometimes music stores need front line sales staff. Some jobs pay well, others may be in the low end, and may or may not have perks. This offers some stability. Studios and record labels used to have jobs available too, but with the changing economy and technology, are not a very dependable option right now. There are a long list of creative jobs at every link in the creative chain, music gear distributors, songwriters for major companies, computer jobs, background work in the film industry and live shows, etc.
Get A Full Time Job
Some people are able to balance a regular full time job or career and keep music as a hobby. Time-wise this can be a challenge for most I think. But if you view your music as more of an art form and not a business, this might work, if you have time to do both.
Work Part Time
This is a great option for artists that want to have time to create but also want a steady paycheck. Some opt for jobs outside the entertainment industry if they offer a better paycheck. Others work in local clubs on the weekend Djing or performing, and this can sometimes be lucrative if you pull in a good size crowd or work for high end clients. Some run sound boards in live clubs, or book the acts and open for them, etc.
Start A Business
If you’re good at basic business math, and can stick to your goals, you might succeed in running your own business. Be creative in considering how to constantly improve and increase your business, while still staying focussed on your bread and butter products or services to keep existing business. This can pay off well if you are well organized and know what you are doing, or could be a struggle if you are not prepared, or too dependent on others to stay in business. It is also affected by market fluctuations, the economy, and supply and demand. Do everything you can to tip the odds in your favour by choosing a good business.
Own A Few Businesses
I always remember the story of a famous sculptor who used to own two businesses: one that made ordinary cups and plates out of pottery (where he probably hired a few employees), and one for his passion, sculpting, which he sold only occasionally for high prices. This model still works today. I’ve worked for people who own three related but different businesses.
Financial Freedom
Yes, you read that right. If you have a paycheck coming in with or without your physical presence that covers your living expenses, you are technically financially free. Popular options include real estate investing or owning a business where the employees can operate without the owner. Don’t laugh – U2 and probably most successful entrepreneurs in the music industry invest in real estate too.
Simultaneous Careers
If someone is a musician and an actor, singer and drummer, guitarist and hairdresser, DJ and chef, or any two things, they might actually have two simultaneous careers. Some might have even more, or overlap careers at different times in their lives.
Hire A Manager
Mostly I included this as a joke. I hope some of you laughed out loud. I understand this has worked out well for a few, but in my experience, if someone else controls my paycheck, I don’t get paid at all ever. If you can find a trustworthy person with a good work ethic and exceptional business experience who cares about your career even more than you do, you might succeed. There are a lot of acts that would be nowhere today without their manager. Beware the sharks and timewasters and only hire the real thing. If they don’t improve your business and career, fire them. You might be better off to employ some office staff if your business is too busy to handle and you can afford it. Be in charge of your own career.
Be An Agent
If you are good at sales and negotiations, you might like to represent other artists. Typically you are paid on commission on the price you are able to negotiate for your clients’ work.
Gigging Or Touring
Gigging locally to a regular crowd in a few clubs, or touring around where you draw a crowd. You might make money from door sales, tickets or a flat rate per gig.
Teaching Music
You might be able to cover your cost of living with teaching music one or a few days a week. The rest of the week is yours to create and do your thing. In fact…you could teach private lessons, a group of people, teach in a local business or music school, run seminars, teach a course online, teach as a full time career, or start a school. You could teach music, songwriting, or how to use music recording software. This is a flexible one.
Promoting Events
This is a business based on numbers. You sell x number of tickets and make a profit when your sales income exceeds your expenses.
Sell Your Music
Again this is based on numbers. You should expect to multiply your efforts through a variety of promotion streams. Some run independent labels or record stores online, selling other artists music too. A very famous and successful one is CDBaby.com. If you sell music you might want to also sell merch, such as Tshirts and anything you think people will buy.
Odd Jobs
I know a drummer that does extra work for film and TV on the side. Technically being an extra would fall under acting not music. The two together offer full time work, but separately each is part time work. Usually odd jobs are found through networking or classified ads or word of mouth.
Expanding Your Career
In the same way that famous athletes get sponsorships from sports clothing companies, you might find profitable sidelines. If you’re a musician, you might find speaking in schools to young people, publishing books, or anything related might increase your career. Even working with children locally might be incredibly fulfilling.
Contract Based
This offers some creative freedom. Scoring music for film soundtracks and producing records for other artists are some examples. This can be challenging if you work with clients that do not pay on time or at all. However it can be lucrative if you work for top clients. Remixing might fall into this category too, along with any project-based work such as designing websites, graphic design and printing, making music videos, short films, etc.
Multiple Streams Of Income
A combination of income streams. Teaching music lessons, gigging, a few contracts/odd jobs, and selling records and merch on the side is a popular one. All pro artists have multiple streams of income. If you perform live and sell records and Tshirts that’s three sources of income. If you DJ, promote events, sell your music, and remix other artists, that’s four sources of income. Be creative. If you have a part time job or business, or a few real estate investments, you might have a solid, winning combination. Just make sure all or most are profitable and sustainable.
Find A Niche
If you see an opportunity, something people need, or a hole that needs to be filled in the industry, you might be able to make a profit from it. This can be as basic as offering to do pro photography for other local artists, to designing a specific type of social network or online community, to offering a platform for artists to sell or showcase their work on a stage or on the net. Beatport, YouTube, MySpace, all distributors, CD/DVD duplication, merch companies, and most labels and agents fit in here somewhere. If you can be the link that brings together artists and audience, or makes things easier for artists, labels, club owners or managers, or simply supplies a needed item, it might be profitable if you do it the right way.
Create A Brand
If you’re extremely creative and original, talented in business, and driven, you might do well to create and promote your own brand. All the rules of business apply. If you view business as a game that you play to win, you might be an entrepreneur.
Entrepreneurship
If the words buy low sell high, fast cash, cash flow, long term growth, and profit are words you throw around like a football, you might succeed as a high level entrepreneur. This is an enigma to most people. But some people can jump from one venture to another and on to another in succession and make a good living at it. All business is based on numbers and sound financial practice. Some people have a natural gift and businesses are really a game to them.
Investments
This is where your money makes a profit for you regardless of what you invest in. Most people assume I mean the stock market, but you can invest directly in businesses, including your own. You can also invest in other artist’s careers. Investing always carries a certain amount of risk. Only consider this if you have money to spare. I only included this because wealthy, successful people always invest in something if not many things.
Buy And Sell
I will leave this one up to you. In this economy you could buy and sell real estate and set yourself up for life. If you buy and sell anything right, you can make a profit.
Something To Fall Back On
If you have skills that have nothing to do with your main interest in music you might be able to work in many different career fields. It doesn’t hurt to have skills that make you employable in other fields. However, don’t let others talk you out of your dreams by saying you should be a doctor or lawyer and give up music altogether, unless you really believe it’s what is best for you. For me that has always been an excuse, knowing that for me God’s calling on my life came first. But I am employable to some extent in other career fields. A lot of people work in the music industry when they are young, and then later settle into an easier, more dependable career when they wish to get married and have a family. In times of recession you can get a job if needed to sustain you until the economy turns around, or if you don’t get paid for a project, to pay your rent until next month when you do. Good planning always has at least one decent backup plan. Consider if you are multi-talented all your skills for which you could be paid. Most people could fit into a variety of different fields. Make a list of your skills and things you enjoy and you will soon realize what you are capable of achieving.
Non-Profit
This one may seem a mystery, but some people operate ministries where their income is literally based on donations. Only do this if you know it is God’s calling on your life. Some non-profit organizations do hire and pay salaries.
I am sure there are hundreds of business models and combinations as unique as the people who create and use them. These are the most common ones I can think of that do actually work for some people who work them. Business ventures are not guaranteed. It really is up to you. I highly recommend educating yourself as much as you can about business, and your specific area of interest, and only take advice from people who are successful. Business is based on numbers and your success basically depends on earning more money than you spend. That is sound financial advice in any industry. Be realistic about your skills and ability to keep up in an industry that is always changing and full of colourful characters. If you don’t think you can play to win full time, part time might just work out for you. I always think God gives people dreams for a reason. It may not turn out exactly the way we originally imagine, but God alone knows your future and what is best for you, and where your roads will lead, and His vision for your life. Commit your plans to the Lord and they will succeed. (Prov. 16:3) Consider that some of your ventures might succeed if others do not. (Eccl. 11:6) I personally approach my music career the same way I played soccer growing up… play as you like and be happy.