When becoming a musician, you will start hearing music industry misconceptions that you might know are not true by personal experience. Here are some common ones:
1. The Industry Always Pays Well
Some artists are paid well but there are many more that are not. The main goal of many artists is to have their music land on a Spotify playlist, be heard by millions, and make lots of money. However, the amount of money you make per stream may surprise you; musicians earn about $0.00437 per stream, which means you need about 2,500 people to listen to your songs to make the same amount of money you could make off of selling one album. Imagine playing to an arena of 2,500 people and getting $10 for your trouble.
2. I Just Need One Hit
We all know about the one-hit wonders. But what about the stars with two and three hit songs? Many of them are still barely scraping by.
Whether you have a hit song or not, if a record label doesn't sign you, all of the booking, marketing, recording, and business tasks are your responsibility. Getting signed to a record label may feel like last decade's goal, but it is a good point when you truly think about it.
One hit is most often not enough to retire on. Knowing what to do after the hit is what makes or breaks a musician, especially if you are on your own.
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