On the eve of World IP Day for the year 2015 for which the theme is Music. This made me wonder “How much do the musicians actually earn and if they do , How??”
If you are wondering the same thing I am, then you are at the right place. I have prepared a list of ways musicians earn their livelihood.
Music sales as a source of income
This might have been the main source of income for the musicians back in the day but music sales have seen better days. The sale in the form of vinyl, cds or digital is still seen but the numbers show a decline in the revenue. The music industry has had to adapt itself with times-a-changing initially from vinyl to tapes to cds and then to digital sales. Now the sales have also gone down, so the industry men are having to re-invent themselves.
Merchandise
Band merchandise including t-shirts, sweat shirts, wrist bands, etc are some of the most sold merchandise. They are bought by fans at concerts, stores or from online. This stays a common source of income for musicians.
Streaming
Online streaming of music is one of the sources of income for musicians. Subscribed users actually listen to their favourite tracks in exchange for a surcharge. Some of the top music streaming services are Spoify, Rdio and Rhapsody. Well if you are a fan of Jay-Z, the rapper he too is launching a music streaming service named the Tidal.(And btw people are betting on the service to flop big time).
Merchandise availability
Band merchandise including t-shirts, sweat shirts, wrist bands, etc are some of the most sold merchandise. They are bought by fans at concerts, stores or from online. This stays a common source of income for musicians.
Licensing
Almost everyone from India must have heard the song “Chayya Chayya” from Dil Se composed By A.R.Rahman and with Shah Rukh Khan gleefully dancing on the train with Malaika Arora. Well the reason I have mentioned this song is that the song was used a theme song for the movie “Inside man” starring Denzel Washington and Clive Owen. These kind of use of songs in movies involves licensing for the composers are paid. This is another source of income for the composers.
YouTube streaming
Now-a-days anyone and everyone can upload videos on YouTube and you can have your own channel as well. For the ads which are displayed for your video, the musician earns a share. Though these ads might be irritating for us viewers, who cares as long these guys are earning their share.
Sponsorships
A musician always needs an audience and the fan base which the musician creates for himself is what symbolises his legacy. To stay connected with the fan base, musicians are sponsored. It can be either cash, any goodies etc.
Music Lessons practised
When you are good at something why not spread it and teach the sones around you and what harm is it gonna cause if you earn some extra dough on the side. Music lessons are a good way practice your craft as well earn some money.
New product line emerged
Product line by celebrities is the current trend in the market. From the phenomenal Cristiano Ronaldo to Victoria Beckham to Justin Bieber have their own line of products. Their celebrity status helps them record the sales. Justin Bieber has his own perfume line for women and Beyonce, Britney Spears and Jennifer Lopez too have done it the same way.
