How to Earn Money being a Musician?
As an independent musician, a lot of the time you’re making music for the passion; you love what you do and it loves you. But there comes the time when you need to ask yourself “how am I going to make a living out of this?”
Which is what we thought here at Ditto Music – so we opened the vaults of our data and studied well over 100k releases and found out how an independent musician can make the most money from their release.
There were quite a few interesting data points we found:
- iTunes is the runaway leader in royalty generation for artists – it outperforms all its competitors in every genre and remains the main store when it comes to music sales.
- Soundtrack is the highest grossing genre of music by a long way, bringing in 58% more than average for a release.
- With the debate over Spotify’s royalty distribution in the news, it’s interesting to see that the store pays out far below the average when compared to its rivals.
- Hip-Hop’s popularity over the last few years has seen its stock rise significantly, with a Hip-Hop artist looking to net themselves 11% more than average per release.
Recommended: Modern Music Industry Success
We’ve picked through all the data and presented it in a much easier to digest manner, analyzing which store is best for your genre, along with how much each genre makes on average.