LET’S FACE it: Unless you’re the 1% of the music industry, the rock star model is over. So where does that leave the rest of us?
Given talent and drive, if you manage your expectations, you’ll make prudent decisions that will lead to better opportunities for building a viable career. Of course, you need to work all of the angles, from touring to publishing. This means staying on top of evolving earnings models in the digital landscape.
In this month’s MasterClass (“Digital Paycheck”), we break down online distribution royalty structures and show you how to work them to your advantage.
If your recordings are getting digital distribution, income is being generated for you. There are safeguards in place, but you have to pay attention. You don’t have be an attorney to understand digital royalties. However, it’s how you apply that information that counts. And here is where it really pays to approach your career as a realistic, lifelong ambition, not a quick shot to stardom. For example, you might think going with a label is your best bet in the short term, but if you can hold on to your master rights, you might make out better in the long run.
Like in any business, you must carefully compare your options. You might not be a rock star, but you just might make a decent living as a musician.