Great first 2 articles!
I am particularly interested in earning from streaming as the miriad of services that are coming out and due to come out are very exciting for independent musicans. What are your views on sites like Musicoin & Choon?
Look forward to part 3!
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Great question!
Based on the current models of streaming that haven't remotely quantified the value of music creators in their economic framework, the projection of streaming being a viable source of income for earning a living from music in that disproportionate schematic seems rather pie-in-the-sky in reality. Some people succeed in it and corporations like Scamify like to publicise about them, but those cases are extremely rare, like the lottery.
With more decentralised platforms like Musicoin, there's an exciting potential. I haven't crunched the figures with them specifically (as in, how many plays it would take to at least cover all your bills), but they're far more promising than the old streaming models.
The real incentive for musicians these days is to find ways to get the listeners to place value on music again by reminding them that life without great music just isn't really possible (ask anyone to not listen to any music from any format known for a month and they wouldn't be able to do it).
We must create a culture of love & value of the arts again. And to do that we must value our own creations higher and more vigilantly.
All that being said, diversification of genuine income-generating products and services with a diverse range of platforms, plus niche-ing is the key for a longterm music career. In a capitalist system we must bodly cut out the platforms that are not providing genuine income, like any shrewd business-person would do in any other industry.