I released my first mixtape on different colored burnt CDs when I was 13. Classmates bought it for $5, and everyone called me "Noodles" (my artist name, then) forevermore.
20 years (and several genres of music) later, I've formed an Indie Record Label (LLC).
Musicians, like me, love to lament that "there's no money in music." And while I suspect a AAA-act like Taylor Swift doesn't share that complaint, it's always been easier, even for indie artists, to earn a living touring and booking shows.
Where income-generation in music remains difficult - is for recording artists.
The revenue sharing model of the major streaming services is a pittance compared to the hours of writing, recording, mixing, and mastering. Or, indeed, compared to anything! And with Spotify STILL LOSING MONEY, quarter after quarter (by the way, it takes me about 75 streams to make a $quarter on Spotify - no wonder I never funneled my fans there), none should expect pay-per-play earnings to get any better anytime soon.
So, what are the indies doing?
A: Vinyl.
But, like the Goldilocks Zone for sustaining carbon-based life in the universe, you need the right number of fans to sell the right count of vinyls, containing the appropriate amount of music and art. So not anyone can press some discs and call it a profit.
Pressing any fewer than 500 copies in America/Canada is not cost effective and generates zero returns. At a print run of 500, I can breakeven around 220 units, only by disregarding all effort and time spent into making (recording, writing, producing, mixing, mastering) the music itself.
Supposedly the music is the most valuable part! Just not according to the market.
Then, only by all artists involved forgoing profits and working for credit can I make a profit on the remaining 230 units. You (I) MIGHT end up with $7500 all said and done, by passing shipping, handling, and sales tax costs to your customers. All that does is pay for your next project.
And how many times a year can you do that without growing your fanbase? Not too many. They have other musicians they want to support, too. If you can even hold their attention while they wait 6-to-12 weeks for the vinyl plant to catch up to your measly little order given the exploding demand from the major labels.
So - fanbase growth via social media marketing becomes inevitable. You can't just be a local act anymore -- not even in New York City.
More reflections soon...
Til then, gaze upon the prototype of our first vinyl release, coming Q4 '23/Q1 '24.
- Dane