The Changing Dynamics of an Artist’s Income

How artists make a living has changed drastically in the last 20 years. In the twentieth century, artists made a good percentage of their income from record and CD sales. That has all changed now with the advent of streaming and downloading music from the internet on sites such as Spotify and Google Play. Artists make very little money from these sources and instead rely on revenue from touring and selling merchandise, among other things.

Touring

Most of an artist’s revenue comes from touring. This has always been the case, but it is now more critical than ever as the income from streaming is relatively tiny compared to the old-time record and CD sales. While on tour, artists need to take care of themselves by healthy eating, exercise, rest, drinking plenty of water and good skincare.

Verso Skincare

Verso Skincare has a range of products that care for the skin, lips, and sensitive area around the eyes. Verso Skincare will help an artist look their best while protecting and enhancing the appearance of their skin. Verso Super C Serum contains exceptionally high concentrations of vitamin C, a well-known antioxidant. This serum visibly rejuvenates skin and adds radiance for healthy-looking skin. With natural plant extracts, it can be used on all skin types.

Other Sources of Income

Merchandising

Merchandising is another lucrative form of income for artists, whether at concerts or in online stores. A variety of items, from the famous T-shirt to other items of clothing, posters, stickers, mugs, bags, etc., are sold to generate more income. A few months ago Harry Styles was said to have the highest revenue from merch sales, amounting to nearly 23 million dollars.

Ways to License Music

An artist can gain an income from licensing their music in many different ways, including for movies, TV shows, commercials, and video games. The artist also benefits from more exposure which will help to improve their income from other avenues.

Businesses

Many famous artists are also successful entrepreneurs with a range of businesses, from clothing to restaurant chains. Jay Z runs a chain of sports bars, a record label, and a music streaming service. His wife, Beyonce, has an entertainment business that includes making movies, music, and clothing. Between the two of them, they are worth $1.8 billion. This is in comparison to Rihanna’s $1.7 billion.

Partnerships

Partnerships between artists and other brands are another way to make money. These collaborations are mutually beneficial, with the brand able to benefit from the artist’s online following. An example of this was the partnership between AT&T and Taylor Swift in the launching of the platform ‘Taylor Swift NOW.’

Although technology has changed the way artists make some of their money, the bulk of their income still comes from touring. How this may change in the future, only time will tell.

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