10 Myths About the Music Business and Being a Full-Time Career Musician Debunked
The music industry is full of myths, many of which can discourage or mislead aspiring musicians. Here’s a reality check to help you navigate the path to a full-time career in music.
Myth 1: You Need to Be Signed to a Major Label to Succeed
Reality: Many successful musicians thrive independently by leveraging platforms like Spotify, Bandcamp, and TikTok. Tools like distribution services and social media allow artists to control their careers and keep a larger share of their profits.
Prioritize building catalog and releasing new songs frequently.
Study successful musicians and how they’ve built their independent career.
Research all the potential revenue streams and focus on the ones that align with your vision.
Myth 2: Viral Success Equals Long-Term Stability
Reality: While going viral can provide a temporary boost, longevity comes from consistency, building a catalog, and developing a loyal fanbase. A one-hit wonder fades quickly without follow-up work to engage your audience.
Build a catalog of songs so that when you do have a viral moment, your audience has a chance to develop a deeper connection and depth with your music.
Instead of chasing virality, create as much good content as possible. The exposure will add up over time.
Myth 3: You Need Expensive Gear and Studio Time
Reality: Affordable and accessible technology has leveled the playing field. Many chart-topping hits have been produced on laptops using budget-friendly software and gear. Creativity and skill matter more than price tags.
Myth 4: Touring Is the Only Way to Make Money
Reality: Touring can be lucrative but is not the only revenue stream. Sync licensing, streaming royalties, merchandise sales, Patreon, and teaching music are viable ways to earn income as a full-time musician.
Myth 5: You Must Stick to One Genre to Be Taken Seriously
Reality: Versatility is an asset, not a liability. Artists like Doja Cat and Post Malone thrive by blending genres. Experimenting with different styles can broaden your appeal and expand your creative horizons.
Being versatile allows you to collaborate with a wider variety of musicians.
In my experience, becoming knowledgeable on how to create in as many genres has opened many doors and allowed me to build a lucrative career.
Myth 6: You Can’t Make Money from Streaming
Reality: While per-stream payouts are small, consistent releases and building a large catalog can result in a steady income. Submitting music to playlists, focusing on niche genres, and engaging with fans amplify the financial benefits of streaming.
If you own a large percentage of your masters, it is possible to make steady, consistent royalty income from your distribution.
Prioritize having a catalog so when someone does discover your music and like it, they have more music to stream. This can increase your likelihood of creating a recurring listener. One of your goals with building a successful career in streaming is building an audience that frequently returns to your catalog and new releases.
Myth 7: Networking Means Attending Fancy Industry Events
Reality: Networking is about genuine connections, not exclusive parties. You should collaborate with other musicians and engage on social media. These grassroots efforts often yield better results than industry mixers.
Network with people around your size or smaller.
Provide value to the people you want to network with.
Treat people as people instead of as opportunities to further your career. Be genuine and take time to build strong, long-lasting relationships.
Myth 8: You Need a Massive Social Media Following to Succeed
Reality: Quality engagement matters more than sheer numbers. A small, dedicated audience that supports your work is more valuable than thousands of passive followers. Focus on building meaningful connections with your fans.
Focus on building a deeper connection with your target audience.
Provide your fanbase value and foster community.
Myth 9: A Music Career Means Sacrificing Financial Stability
Reality: A structured approach to monetizing your skills, such as teaching, licensing, and releasing a steady catalog, can provide stability. Many musicians diversify their income streams to ensure long-term security.
As you begin to make money in music, research good financial habits. Think long-term, plan for retirement, and spend your money wisely.
Myth 10: The Industry Is Too Saturated to Break In
Reality: While competition is fierce, every artist has a unique voice. Focus on authenticity and carving out your niche. There’s always room for artists who bring something fresh and relatable to the table.
Conclusion
The path to becoming a full-time career musician is challenging but not impossible. By debunking these myths and focusing on strategy, consistency, and authenticity, you can build a sustainable and fulfilling career in music.
