I’ve realised just like the powers that be have made it very difficult for us to afford a home of our very own and a mortgage and to get married (they’ve broken up the family unit by the way) and have a family of our own, they’ve made it extremely difficult to make a living or any income from the music business through record sales.
There’s more income from the “tools for the job” in the music business now such as sample packs and/or music equipment. The digital music format has killed the music business and the chances of it ever recovering are very slim! Unless physical products/goods return that can’t be easily copied, then I don’t think much will change as the music business is saturated with artists and bands vying for attention.
The traditional way worked best when music was readily available on vinyl, tape cassettes and CD’s. There is still an income from radio play and third party licensing agreements, but I can’t see things improving for the foreseeable future. Record deals and music publishing deals are hard to come by and the live sector has been hit hard by this scamdemic (fake pandemic). I would not advise becoming a musician and artist. I don’t like to crush anyone’s dreams, but I am being realistic. There is no money in being an artist or band unless you’re signed to a major record company and subsidised. The income is from the “tools for the job” now. It’s a rude awakening, but I am glad to be woke.
I wouldn’t encourage anyone to enter the music business as an artist or band as there is little scope for success and the music dream is way beyond our reach now. It’s virtually impossible just like it is to afford a home of our own and a mortgage and to get married and have a family. Digital and the internet has screwed many things up and taken jobs from people that they once could make a living from.
If third party companies such as Spotify, Apple Music and Amazon unlimited start licensing music from the creators, it might save the music business, but until then, it’s a dying industry and the bubble has well and truly burst on the music industry. The game is up so to speak! R.I.P the music business.