Summary
Highlights
The speaker challenges the notion of being a 'sellout' for making money from music in non-traditional ways. He reveals that since 2017, he has earned over $1.5 million from 13 different methods, compared to just $2,576.66 from streaming. This diverse approach has made him a better musician and artist.
Fifty years ago (1974), musicians primarily relied on record deals or independent tours. Recording studios and equipment were expensive, limiting opportunities. Today, with home studios and accessible technology, it's easier to create valuable content for which people are willing to pay, requiring a shift in mindset beyond traditional album sales, streaming, touring, and merchandise.
The turning point for the speaker was when he started thinking like a business, focusing on selling products or services. While he still makes money from streaming (a product), he doesn't tour or rely heavily on merch. He highlights 13 other revenue streams on the service and product sides that contribute significantly to his income.
Service-based income includes: being a music director at churches, session musician work, production work, mixing and mastering engineering, offering critiques and feedback on music, hosting live events (seminars, recording sessions), and coaching/consulting for studio setups.
Product-based income includes: YouTube ad revenue, brand sponsorships (e.g., Presonus), affiliate promotions, and the two biggest sources: online courses (teaching recording, production, mixing, mastering) and membership programs for ongoing training and coaching.
The speaker shares examples of others, like Ben Holmes, who developed diverse skills (drumming, mastering) to create multiple income streams, and Tommy Z, who produces music for brands like Nike. He concludes that while his current path wasn't his 16-year-old dream of being a rock star, it's been fulfilling, creative, and has made him a better artist, encouraging viewers to explore new possibilities.