The music industry has become quite a volatile place to earn a living from. If you’re an honestly talented musician trying to put your stuff out there, you will soon find yourself being trampled upon by bigger artists and people illegally downloading your work through the notorious torrent streaming sites. Even the biggest artists to rock bands don’t earn like they used to. The digital age has it’s pros and cons, and though you benefit greatly by being able to freely market yourself, when it comes to making decent earnings out of it, you will be at the losing end of the deal. In the beginning it might be all about spreading the good vibes, but at the end of the day, you need proper remuneration to continue doing what you love.
But you can take a page out of the book of artists out there today. No one can deny that the pop and hip-hop scene has taken over every other genre – including trance and EDM (in fact, EDM is dying a slow death as we speak). But why do you think musicians in pop and hip-hop are doing so great? Their music isn’t anything new, the lyrics are basic, repetitive and at best, super-sexual and yet they sit comfortably on top of the musical food chain. While other genres of music like rock, metal, indie, folk, etc. are trying desperately to stick to the music and make their mark, pop stars are raking in the moolah, earning millions in a single year.
Beats By Dre earned Dr. Dre over $100 million in one year
To understand how this dynamic is taking place, take a look at the likes of the richest out there. They all have something in common – they’ve diversified. Dr. Dre, for example, still makes music and that occasional public appearance, but today he is known more for his Beats By Dre products than anything else. It has, in fact, earned him over $100 million dollars. There are others as well who have followed suit, though taking other consumer products into consideration – Jennifer Lopez has a fragrance and so does Adam Levine from Maroon 5. Still others have forayed into fashion – Kanye West with his Yeezy brand and now Beyoncé with her IVY PARK line.
Fragrances by different celebrities including Nicki Minaj, Katy Perry, Britney Spears, Jennifer Lopez that earned them millions of dollars, increasing their annual income.
There is no doubt that it is a difficult world out there, and earning a substantial income from music is not easy. You may not want to sit at a 9 to 5 and work your ass off for the rest of your life. However, since you are creative and want to use your talent, do so in other aspects as well. Not everyone gets to be a Taylor Swift or Rihanna, and yet even they are using their name and fame beyond official merchandise to make that extra buck. It’s a legit income that will broaden your portfolio and make a name for yourself beyond the horizons of a musical career.
