Welcome to our curated list of articles to help artists, songwriters, producers, and musicians set themselves up for financial stability. Use this as a resource to understand every possible income stream within the music industry and how to organize yourself accordingly.
Why Financial Literacy in Music is Important:
Though it may not seem like it from the outside, the music industry is very much a complex business, and it runs like one. Income streams are numerous and irregular, and making a music career your main source of income requires meticulous planning and organization, but can be absolutely be done!
What You’ll Learn:
We cover a range of topics that allow musicians to take control of their finances and cover all their bases:
- Budgeting and Planning: Learn how to create an appropriate budget and manage your income. plan ahead as you get a better understanding of when you will be paid.
- Knowing Your Income Streams: Find a list of the numerous income streams in the industry from gigs, merchandise, and streams to selling beats, receiving royalties, and getting sponsorships. Figure out which ones apply to you.
- Funding and Grant Opportunities: Explore the different programs and grants available to fund your projects, provide you with resources, and connect you with collaborators. Find guides on how to apply to these grants and secure your spot in artist residencies.
We want you to feel comfortable managing your finances in an ever-changing industry. Our articles will provide you with the tips and tricks to help you become financially literate.