This week we learnt about royalties. If there is one thing I have come to realise, it is that artists/musicians are often not getting the amount of money that they should. The main areas of income are sales, broadcast and live performance. Things have changed a lot in the past few decades. The model has switched: musicians used to make their money from sales of records and would go on tour to promote those records. Nowadays, it’s the touring that makes the money because the sales of records has decreased. Some artists focus on their merchandise because they know this is one of the main ways they can make some money. T-shirts, mugs, posters etc are becoming just as important as the actual music.
There is plenty more information on how this all works on the Networking Music page so take a look!