Want an enlightening look at where the money in the music business goes? So does the Future of Music Coalition. They are studying the results of an in-depth research project to establish what the revenue streams are for musicians in all genres of music – from classical to indie rock.
The Future of Music Coalition, founded in 2000, is a national non-profit that focuses on education, research and advocacy for musicians. They also produce an extraordinary annual summit attended by musicians, music industry heavyweights and government policymakers.
Here is the breakdown on how survey results were compiled:
More than 5,000 US-based musicians and composers were surveyed between Sept. 6 – Oct. 28, 2011. read more
For these studies, the FMC worked in depth with five people in the industry who make their living full-time with music. Using data provided by the professionals, the FMC then graphed and wrote up explanations of how money flowed in, from where, etc. As with any case study the results aren’t necessarily broadly interpretable but it’s nice to have some detailed data to go with the more general surveys we usually see.
He plays as a salaried member of multiple bands, and also derives significant income from solo performances. He writes, sells CDs, does session work, occassionally teaches, and seems like he’s on the road non-stop. And he also doesn’t have health insurance. read more
…There seem to be more ways than ever for the independent artist to bring in cash. The Future of Music Coalition, an artist lobbying group, announced during SXSW the results of two years of research into how musicians make money. Jean Cook, one of the architects of the project, said the research revealed 42 potential music revenue sources. No single artist is, of course, benefiting from all 42. A classical artist, for instance, may have access to only two or three, she said. But a singer-songwriter may be able to pull from as many as 25 revenue streams. read more
In a rather fascinating case study by the Future of Music coalition, they published a very thorough breakdown of an indie musician’s annual salary through four years. This individual, whose name and actual dollar amounts were shrouded in the study due to contractual agreements, makes 100% of his income off of music, has no health insurance, and has been a touring, creative member of several bands over the past four years.
Many of the conclusions one could draw from these numbers are obscured because there is no raw dollar amount to ground the percentages. What can be gleaned, however, is what aspects of the music business are currently profitable for indie musicians. read more
The US-based Future of Music Coalition has been running a project called Artist Revenue Steams (ARS for short) to dig into how modern musicians are making their money. As part of that, FMC has published five case studies of individual, unnamed artists: a jazz bandleader/composer, an indie rock composer/performer, a jazz sideman/bandleader, a professional orchestra player and a contemporary chamber ensemble. The case studies are based on 4-12 years of accounting data provided by the musicians, breaking down their music income and comparing it to their expenses. There is plenty of detail to explore via the link below, but key findings include the importance of performance as a revenue stream, as well as its spin-off benefits like selling CDs on the road.
Future of Music Coalition is a national nonprofit organization that works to ensure a diverse musical culture where artists flourish, are compensated fairly for their work, and where fans can find the music they want. One of their recent projects has been the Artist Revenue Streams Financial Case Study - a multi-method, cross-genre research effort that’s examining how musicians’ revenue streams are changing, and why. The research is fascinating and extremely valuable for artists and all stakeholders in the music business and helps us understand the financial landscape for creators and what it takes to sustain their work.
The Future of Music Coalition has released data from its Artist Revenue Streams research project, where financial case studies drawing from 4-12 years of accounting data provide information about how musicians are making a living today. These five case studies provide a financial profile of different types of full-time musicians. Each case study graphs and explains the musician-based sources of income over time, and the results tell a lot about the state of today’s music industry.
The case studies reflect the working lives and income streams of five different types of full-time musicians: […]
Future of Music Coalition has released the next data set from its groundbreaking Artist Revenue Streams research project: five financial case study profiles that provide rich, verifiable information about how certain musician types are making a living. […]