The average band member earns about $30 – $50 per gig. That requires about 30 000 gigs to make a million dollars. It’s far too many!
Larry Dvoskin, a successful songwriter, suggests that musicians should be writing more songs to boost their earnings. He points out that talent is a myth for songwriting success, using “Amazing Grace” as an example, which was written by a slave trader with no musical aptitude who had an epiphany.
Larry has provided us with an hour long master class on the art of songwriting.
But how much do successful bands earn that have already honed their songwriting? Blink 182 reportedly earns about $80 000 per member for a show. That means only about 13 shows are necessary to make a million. They could do that in a month!
But as Larry points out, gigging doesn’t have to be the only avenue of income. You don’t even need to have a hit song. Media producers are actively looking for new audio material to incorporate into their works. If your original music happens to catch the interest of a film prouder, you may see a potentially large payout for your efforts.
Larry addresses the issue of having a great vocalist on your tracks. He points out that it’s better to own 50% of something great, than 100% of nothing. He suggests hiring a vocalist if you’re unable to do your own.
