Artists have always had a unique relationship with money. On one hand, the lack of it can be what holds them back from realizing their full creative potential. If art doesn’t pay the rent, a part-time job becomes a necessity. Before you know it, the part-time job becomes a full-time job, leaving little to no time for art. Sound familiar?
On the other hand lies the internal struggle of capitalizing on your creativity. For most artists, money isn’t the driving force behind creation ― it’s expression. But you know you have to eat, so you accept the “art as commerce” reality and just pray you don’t end up like KISS. Artists know they need money, but have a hard time accepting it, for fear that it will become the force that drives them. read more
When we interviewed Kristin Thomson back in October, the Future of Music Coalition was in the midst of a landmark research project designed to illuminate just how musicians make their livings in the 21st century. The earliest of those results have started to be published at money.futureofmusic.org, but Kristin Thomson and Erin Mckeown were kind enough to give us a walk through of some of their findings this morning. read more
Living for a good decade in Washington, DC, I was very familiar with the “do it yourself” music culture. In fact, I was an avid participant in a community that was constantly putting on shows, releasing records, silk-screening t-shirts, making our own packaging, and supporting each other. I loved it. read more
Freelance musicians once provided the backbone of New York’s classical music scene. Work was abundant for the top players and the lifestyle never routine. But faced with changing tastes and new technology, many of the regional orchestras, Broadway pits and jingle houses that employ freelancers have cut back or shuttered. This is forcing musicians to get a bit more creative and entrepreneurial.
To explain this state of affairs, host Naomi Lewin is joined by three guests: Miriam Souccar, a senior reporter at Crain’s New York Business; Jean Cook, director of programs at the Future of Music Coalition and Mary Rowell, a freelance violinist and host on Q2 Music. read more
[…] One of the more interesting bits of data presented during the panel had nothing to do with startups but should be looked at and analyzed more in depth. Kristin Thomson, an Artist Revenue Expert at the national nonprofit Future of Music Coalition, presented those in attendance with a new study that showed most artists earning over 100k a year counted their accountant, lawyer and webmaster as their three most important team members. This needs to be looked into further because as Thomson pointed out, there is no way of currently knowing if these artists have that level of success because of the accountant, or if they have an accountant because they have reached that level of success.
The Future of Music Coalition (FMC), a national nonprofit advocacy group for musicians, has launched the Artist Revenue Streams (ARS) project, a multi-phase research effort that aims to document how today’s musician earns a living.
In the project’s first report, performance rights royalties have emerged as one of the most dependable, longest lasting sources of income for songwriters and composers. The findings independently emphasize the vital importance of BMI membership for creators, many of whom rely on BMI earnings their entire lives.
The ARS project will reveal more data gathered from a second test group in May 2012.
We’ve told you a little bit about the cash flow of orchestras, but If you’re not a fan of classical music, Future of Music Coalition has just released some data that might be a little more relevant to you…
Future of Music Coalition has released the next data set from its groundbreaking Artist Revenue Streams research project: five financial case study profiles that provide rich, verifiable information about how certain musician types are making a living…
If you are a current investor, it may hurt you to hear this, but Pandora ceases to exist without access to artists’ music, and in no way can it (or should it) be the other way around. Ask yourself this: Will the music royalty checks decrease or stop rolling in if Pandora goes away? No. Will you stop listening, buying, streaming, borrowing, renting or stealing music if Pandora goes away? Now I feel you may be trusted to answer that question in any which way you wish — but try to be honest. read more
“Advancing the Creative Economy” was the theme of the Copyright Clearance Center’s OnCopyright 2012 conference on March 30, and an important first order of business seemed to be defining what, exactly, a creative economy is. For many, it became a matter of semantics: “piracy” and “stealing” vs. “infringement,” “individual” vs. “commercial,” “intellectual property” vs. “creative greater good,” and “copyright” vs. “licensing.” The philosophical implications of these words clearly depended on what roles panelists played in the creative economy, as did the preference as to whether copyright ambiguities be better defined, or remain vague and fungible… read more