Musicians, Music And Money

An industry that was once top-heavy with ultra successful millionaire rockstars is quickly changing. The slow death of the traditional record label is proof of this phenomenon. Once again, the internet has revolutionized an industry and leveled the playing field for all talent. No longer do you have to jump each time you hear label scouts may be in the area. The record label is no longer useful to an artist, as the internet has destroyed their competitive advantage of worldwide distribution.

Independent musicians, this is your time time to shine and profit. Believe it or not, you can still make a nice profit from your music. Record sales are dropping like a rock, so how are you supposed to make any money? A successful approach should be at least four pronged and should include CD's (I know I just slammed this medium, but it still has a few years left), digital music sales, ad supported downloads, and live show promotion.

There is no reason you should ignore CD's just yet. There are still a few people who have not yet accepted the digital music revolution and still like a tangible product. These are the same people who like to print everything, just in case their computer crashes and all of the web servers and backup media somehow crash or disappear too. Old habits die hard, I suppose.

Digital music is clearly being accepted as a primary mode of distribution today. In fact, 2008 saw sales surpass 1 billion songs. PC's, Laptops, and most phones can now be used to download music, making it that much more convenient to purchase a song. Fans at a live show can purchase a song on their phone without even leaving their seat.

Ad supported music is trying to catch on but it's having a hard time in this rough economy. It is the most logical next step for music. It is apparently very difficult to sell digital music, as services such as Limeware illegally make it available for free. So if you can't sell the music, sell the attention that your music garners. Companies are always trying to get inside the heads of consumers. Music makes targeting a specific market possible, as artists often attract only certain demographics. While websites that have attempted this approach have had limited success, there is nothing stopping you from going out and selling advertising in your community. Add advertisements to your banner or your promotional materials.

Finally, if you can't sell your music to make money, use it as a promotional tool. Give snippets away to attract people to your shows. If you're a new and upcoming band, most people have probably not heard you, and will probably not buy your music or attend your shows until they do. The internet provides free worldwide distribution, so make your best songs available to download for free and let them spread like wildfire.

The music industry is quickly changing, but that doesn't mean musicians can't still make a living from their art. It simply takes a little more creativity now.

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Band Finances.

Take a moment to see where you are in your music career and what you need financially to get you where you need to be. I am sure that one or more then one of these methods listed below will help with your music funding without having to seek legal advice with regard to having to refinance or formulate a debt management plan.


I'm sure that you are aware that the types of music career choices as an independent musician can have many financial expenses and in even many cases it is very difficult for many up and comers in the music industry to be able to finance their music dreams. 


Prior to 'cutting to the chase,' there are a couple of seemingly easy, convenient and easy ways to raise funds for your band. The first is a pay day loan. These generally entail a relatively small amount of money being loaned to you for a short period of time. If you take it upon yourself to go for a pay day loan then be it on your own shoulders...not the shoulders of the band or your manager who I am sure would all be none too pleased.


In this entry I will go over a few ways in the hope that one may be able to get music funding to help pay for some of the things that may be needed to help move their music career along. Every thing that I talk about in this article can immediately be implemented if chosen to.


Additionally, seeking cash advances from seemingly 'helpful' sources generally bite you on the backside further on down the road. Any band member who takes it upon themselves to take out a loan, irrespective of ho attractive it seems, in the interest of the band are psychologically distancing themselves from the band. It will lead to unrest.




Like I said, there can be tons of fairly high expenses that a musician may occur when pursuing their music career. Listed below are a few examples of what I'm talking about.

Studio Time - $35-$100 an hour
Music Lessons/Vocal Lessons - $30-$100 + an hour
Sound Equipment - $200- $1,000's
Studio Equipment - $1,000's
Instruments - $100 - $1,000's
Touring Cost - $100's - $1,000's
Promotional Items - $100's-$1,000's

These are just a few of the many examples of how expensive having a music career can be and this is exactly why investing in your music may be needed to accomplish certain tasks related to your music.

Here are some music funding methods that you can try to obtain that can help pay for some of all of your expenses.

A Grant - This is one of the best ways to receive music funding due to the fact that in most cases the grant money does not need to be paid back. Many musicians miss out on this opportunity because they do not take the time to research grants and ho to go about obtaining one, but you should know that grants are real.

Loans - Another great way to receive some music funding is using loans. A small personal loan is not that hard to get. Make sure you go prepared and make sure you know your credit score. Let them know what your plan is for the loan and how you plan on paying it back. The type of loans that I speak of here are not the pay day loans and cash advances that I referred to earlier.

Small Business Loans - If you have a business established for your music career then you can apply for a small business loan. You can also qualify for a loan through the government which will

have a very low interest rate. It's worth searching the internet to locate your nearest local provider of such a service. This is an area for your management to be dealing with.

Credit Cards - They can be a great way to fill short term financing gaps. Try to find a credit card with a low APR or better yet an introductory offer of 0% APR. That way you can get what you need and pay it off later with the lowest amount of finance charges. Again, your management should be dealing with this area....obviously in consultation with your band.



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