Yesterday (Feb 26, 2013), the International Federation of the Phonographic Industry (IFPI) released its 2013 Digital Music Report, noting that the music industry’s global sales rose last year for the first time since 1999. read more
Peter DiCola of Northwestern University School of Law and partner in the “Artists Revenue Streams”-project of the “Future of Music Coalition” has recently published a working paper entitled “Money from Music: Survey Evidence on Musicians’ Revenue and Lessons About Copyright Incentives”, which also will be published in the Arizona Law Review. Based on data of the “Artists Revenue Streams”-project, DiCola analyzes different income streams of musicians in the U.S. […]
[…] Artists still need to build a team to be successful. The 2010 Future of Music Coalition Artist Revenue Streams project concluded that high earning musicians ($100,000+ per year) were two times as likely to have certain paid or contracted team members.4 The results of the study suggest that while the Internet has enabled access to the market by anyone, revenue is still significantly affected by the presence of a team. read more
Last week, we launched a series of blog posts that are using Artist Revenue Streams to examine some of the common assumptions about musicians and income.
In part 3, we’re looking at the assumption that, in a post-Napster world, musicians don’t make any money from selling music. As with the other perceptions, there’s a grain of truth in this, based on the simple fact that income from the sales of sound recordings in the traditional sense – sales of physical goods in retail stores – has changed drasticallly in the past ten years. There are fewer retail stores, more online ways to get music for free and, according to the RIAA’s data, a steady decline in the dollar amount of CDs shipped from 2004 to 2010.
A few days ago, we launched a series of blog posts that are using Artist Revenue Streams to examine some of the common assumptions about musicians and income.
In part 2, we’re looking at the assumption that musicians make all of their money from live shows/touring. This is largely based on how the public interacts with musicians. They buy tickets to shows, and they see the size of crowds at concerts. Using basic math, a music fan can estimate how much a concert might be grossing. Coupled with the widely reported decline in album sales and the impact of unauthorized filesharing, seeing bands constantly on tour and even impressive stagecraft, many music fans assume that live performance money is musicians’ bread and butter.
With a backdrop of the radio royalty wars raging in Washington, The Future Of Music Coalition is digging deeper into the data derived from it’s Artist Revenue Streams project in an effort to debunk the often held popular myth of the rich and easy life of the professional musicians.
According to their survey of 5,013 working musicians, their average personal gross income for the past twelve months was $55,561. This includes income from all sources: jobs (music related or not), pension payments, investments, etc. Then by multiplying personal gross income by the percent of income, the FMC calculated average gross estimated music income (EMI) to be $34,455. That’s $5000 lower than the Bureau of Labor Statistics’ per capita personal income estimate of $39,945 in 2010. […]
In March of this year, Artist Revenue Streams co-directors Kristin Thomson and Jean Cook participated in a panel at South by Southwest called Brass in Pocket: Accessing More Musician Income. Drawing upon data collected through the Artist Revenue Streams project and the panelists’ personal experience, they talked about a handful common assumptions and myths about how musicians make money.
This week, the ARS team is expanding on the SXSW panel topic through a series of posts.
We’re starting by tackling the assumption that musicians are rich. This is a feeling that is reinforced by shows likeMTV Cribs, by annual lists from outlets like Forbes and Billboard that publish figures about the most well-paid musicians, and even by musicians themselves who reference luxury brands in their lyrics, or embrace high-priced lifestyles. Naturally, the public begins to assume that musicians – especially chart-topping, highly visible ones – are rich, based largely on what they see on stage, read about online, or hear on the radio. And even when the musicians aren’t rich, some embrace the stereotype because it adds to their own brand’s value.
There are some musicians who are doing very well financially (at least in gross earnings), and we applaud their success. But, just like the US population, there are very few at the top. While there are a handful of musicians who are wealthy, the vast majority of working musicians in the US are middle class earners.
[…]”Demand for music hasn’t gone down one iota. It’s actually increased. But it’s been effectively devalued,” Navarro said from his California home as he prepares for a swing through the Midwest this week. “To make it viable (has meant) a return to an old system, the oldest part of which is to do it yourself.” read more