💡✍️ADN #084: How Much Money Do You Want To Make?

adn084 artintoincome artist development artist development newsletter mailbox money making money money Jun 30, 2024

I hated math in school.

As I’ve gotten older, I’ve learned to appreciate it for its ability to provide answers to otherwise abstract ideas.

For example -

If I aim to earn $250,000.00 a year as an artist in the music business, math will help me calculate what that will take.

It also allows me to run comparisons on different scenarios.

For instance -

30k show guarantee

  • Tour bus — 7k
  • Crew pay — 1.8k
  • Rentals — $900
  • Per diems — $250
  • Commissions — 8.5k

= 18k+ in expenses

11k+ in profit

Depending on the gig’s location, flying could be more cost-effective.

For example -

30k show guarantee

  • Flights — 2k
  • Checked baggage — 1k
  • Crew Pay — 1.8k
  • Rentals — $1500
  • Per Diems — $250
  • Commissions — 8.5k
  • Hotels — 1k

= 16k+ in expenses

13k+ in profit

Most artists earn income from a handful of buckets.

These are typical buckets to earn from.

  • Touring
  • Merchandise
  • Recorded Music
  • Songwriting
  • Sponsorships

The simple question you should ask yourself is -

How much money would I like to earn in 2025?

Take each bucket you earn from currently and run the math on what your net profit would need to be in each to reach your goal.

From those numbers, you will be able to see -

  • How many tour dates you need to play per year at what net income
  • How much merchandise you need to sell (remember to back out your expenses from your sales after each show)
  • How much streaming revenue you’re bringing in monthly x 12 months (goal: release a new song every 6–8 weeks)
  • How much “mailbox money” are you earning quarterly on average from your PRO (Ascap, BMI, etc.)
  • What sponsorship goal per year you need to set and then do the necessary networking, pitching, and outreach to reach your goal

Only you can answer what amount of money you want to make.

When you do, use data and math to help build a business plan that turns your art into income.

See you next Sunday!



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