One rueful joke about the long-suffering music business holds that it’s a great place to make money … doing something else.
That’s to say that when you record an album, you won’t make much directly from even a hit song. Indeed, though streaming services such as Spotify and Apple Music have revived recorded-music revenue to the levels of a decade ago, few musicians are getting rich from their online streams.
Exene Cervenka of X told me a year ago that she might get a check of less than $500 for a million streams of one of her songs. The return on investment is so poor, she said, that she and her bandmates had decided not to record new albums because they could make more money in less time from concerts.
And that’s indeed where the money has gone in music (at least for musicians): live performances, merchandising and licensing of songs for TV shows, movies or commercials.
Read @ Forbes