Struggling To Make Money Through Your Music During Covid? Here Are 3 Reasons Why You Shouldn’t Give Up
If there is one industry that Covid has done a number on, it’s the music industry. The statistics show that artists and bands make most of their money from live appearances and concerts.
And Covid caused all that to stop.
Concerts were canceled, tickets were refunded, the whole world stood still.
Toilet paper left supermarket shelves like never before, Lysol cleaning agents were practically non-existent and artists started to appeal to their fans over social media to buy their merch to keep some cash flowing in.
However, with people being let go from their jobs and unemployment at the highest it’s been in recent years, fans haven’t been able to support their favorite artists.
With all that being said, is there any hope for artists moving forward?
Here are 3 reasons for you to keep doing the thing that you love!
Revenue is projected to increase over the next few years
A study by Goldman Sachs, a leading global investment bank, estimates that the industry is set to reach as high as $142 billion over the next decade.
Additionally, streaming services and telecommunications have released better services and this will allow you to connect to your fans faster and reach out to other artists around the world.
Mentorship resources and networking opportunities are easily accessible
Due to the most viable music revenue stream being interrupted, many artists have been searching for alternative ways to get more income. The global pause has allowed artists to reassess their business strategies and seek out solutions for issues they were having.
Industry professionals have taken it upon themselves to set up workshops and networking opportunities to allow artists to come together and learn from each other. You can tap into the resources that these sessions will make available to you.
Grants for artists are now at the forefront
While many artists have figured out how they can transition their music business, they don’t have the cash to get the resources they need. Funding is now being made available for artists to tap into — and while getting the grant isn’t guaranteed, there is nothing for you to lose by applying for one.
If the previous three reasons didn’t inspire you enough, then there is an upcoming music conference that will provide you with a wealth of resources to choose from.
The Music Entrepreneur Conference is expected to feature some of the leading professionals and musicians in the industry and they will walk you through all the tools and resources you can use to get ahead.
