According to a recent Citigroup report, the music industry generated a record $43 billion in 2017, but recording artists saw just 12% of that revenue, or $5.1 billion, and the “bulk” of their revenues came from touring.

Can you make a living in the music industry?

The average personal gross income of the 5,371 musicians surveyed was $55,561, of which $34,455 per person came from musical work. More than half of all respondents reported generating income from at least three different jobs.

Do music artists make good money?

In summary, the average working musician earns $35,300 USD gross revenue annually from their music career, counting income from a variety of sources.

How much money do musicians make an hour?

The average wage for a musician in the United States is around $27.58 per hour.

How much money can you make in the music business?

Competition is high, but if you hone your craft, network with the right people, and put in the hard work, here are some music business careers to consider and what compensation you can expect out of them.* * Salary information is from the 2016 Edition of Music Careers Dollars and Cents by the Career Development Center at Berklee College of Music

What do you need to know about the music industry?

You need to have some pretty good business instincts/skills as well, because above all, record companies are out to make money, and you need to prove to them that you are in essence a money making proposition. It’s a business. Also, understand you will likely be rejected…a lot! Don’t take it personally.

What’s the best way to start a music career?

For musicians, it can be a great way to start your music career as artists such as Justin Bieber and Carly Rae Jepson have shown. It’s one of the more popular methods you can use if you want to know how to make money as a musician. Firstly, plan your content and make sure that you keep it interesting and engaging.

Is there more to a career in music?

There’s more to a career in music than just performance — it can involve one or many disciplines. The more versatile you are, the more opportunities you will have to work in the music business.