Fewer Than 30,000 Artists Are Making A Living
Topspin CEO Ian Rogers reported this weekend that fewer than 30,000 artists are making a living from music. Citing data from Songkick cofounder Ian Hogarth, who examined his database of bands, the types of venues they played, and the likely incomes affiliated with those venues, Rogers presented this data and determined that this number is probably correct.
However, he added, the number could be lower or higher depending on how you define what making a living is. Along with this stat, Rogers argues that while the cost of production and distribution has come down, the cost of marketing has risen. It takes much more money and time these days to create and maintain a successful campaign. Worse yet, as it is with all promotions, the results are highly unpredictable and despite an artist's or their manager's best efforts, the whole thing could fail to produce the sales needed to recoup the marketing costs.
This is, of course, the problem that major labels have been dealing with for years.
It takes money for the record industry as a whole to take an artist serious, but even if various entities get behind the marketing of an artist, the plan could snowball once it hits fans. Thus, indie artists face the same uncertainties.
via Music Ally