My insight into the business aspects of being a musician is relatively recent. As a dedicated Apple fan and a designer, I once believed that having a paid Apple Music account would guarantee fair compensation for musicians.

However, the reality falls short of this expectation. This longstanding issue has been a continual source of frustration for musicians, even though it remains relatively unknown to the majority of music listeners. It is my hope that this blog will shed light on the situation for those outside the music industry.

Streaming: I won’t delve into an exhaustive list, but it’s essential to understand that streaming revenue typically ranges from $0.01 to $0.0011 per stream, often with minimum requirements (such as Spotify’s 1000-stream minimum).

Purchasing: When music is purchased on online platforms, musicians are promised a more substantial share, often nearing 50% according to platform claims. However, a complex web of factors can reduce the actual income substantially before it reaches the musician’s account. So, it may be prudent to consider halving this figure.

Bandcamp: A refreshing and honest platform in this landscape is Bandcamp. In recent years, it has been a boon for musicians, offering artists over 80% of the sales revenue.

Surprisingly, Bandcamp remains a well-kept secret among those outside the music industry. Although it has garnered attention, recent acquisitions and staff layoffs have cast a shadow of uncertainty over its future. As is often the case with large corporations, changes may eventually prioritize profits over the well-being of musicians.

Links about Bandcamp changes: LA Times, Jazzfuel

So, what’s the optimal strategy for musicians to sell their music?

The answer is simple: Your own website.

This approach ensures that 100% of the revenue goes directly into your pocket. Establishing your online shop and organizing product delivery is a straightforward process. However, the challenge lies in attracting traffic to your site, especially in the fiercely competitive music market. Effective SEO is a necessity, but successful promotion is the key:

• Leverage social media to share posts with links (refer to our blog about social media).
• Promote your albums at every gig and provide ordering information.
• Utilize event platforms like Jazz Events Live to showcase your work.
• Create flyers and business cards with direct links to your website and webshop.
• Build an email list and send out newsletters regularly, directing readers to your webshop.
• Capitalize on discount periods, such as Black Friday, holidays, or your birthday.
• Educate yourself about online promotion.

Get creative; you’re not just a musician but also an entrepreneur. Push your music sales and set clear goals, like emptying that box of CDs by year-end.

Should you disregard the major platforms now?

Probably not, but consider a more subdued approach. Keep your presence on these platforms but don’t promote it anymore.
Make sure to prioritize promoting your webshop at every opportunity you get.