The #1 Reason Music Artists Stay Poor

Curated By Ralph

Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

5 to 100 people of those streams are Going to view your page they're going to View your website they're going to view Your Instagram and probably get check Out a link in your bio so that's our Percentage right 5% out of those people Let's say that only uh 10% of your fans That are fans will Buy Equals $250 per month Per Song Hey friends it's will hopefully You're having a great day today in this Video I want to share with you guys some Calculations on the good old whiteboard About offering your music as digital Downloads now we're actually going to Jump in first by looking at this article It's charting the last 50 years of Music Industry revenues from total revenue From 1973 until 2022 so actually uh you know We're about a year and a half 2 years Off but as we look by year uh and you go Through from that time period to now you Could see that um the CDs and the and The cassettes and the vinyl records are Actually a very minuscule amount of the Revenues in 2020 and Beyond I'm going to Actually share with you guys uh the paid Music uh subscription model uh that you Can use for your music that I think you Guys will really enjoy so let's break it

Down here on the Whiteboard so we got One song as an example all right so if You have one song that gets released uh And this Song let's say on average for your Average artist it gets Between 100 2,000 Streams does that seem reasonable for The independent artist does that seem Reasonable for your every everyday Artist I think it does you're getting uh You know thousands then adjust Accordingly but so let's just say that Out of these 100 to 2,000 people that Are streaming your music 5% of the People that are listening to your music I think this is very conservative Because uh I believe that a lot of the People that listen to your music are Going to know of you and be your fans But let's just say only 5% are actually Fans so that would put us at between Five And uh 20 wait no 5% so five and uh 100 uh Fans people that actually listen to your Music actually like your music does that Seem reasonable for you as an Independent artist that you have this Many people that actually listen to your Music at this time for the everyday

Artist I think it does okay so uh let's Just say on average um let's say that You create something that looks a little Bit like This it Includes Unreleased Music it Includes a Group Chat let's say that it also includes DS From your music if you're a producer or You you have people that like your music Your fans that are producers and would Want to remake your songs let's just say Let's say also if you if you are a part Of this you get uh Concert Access okay and then let's go ahead and Also Say Verifiable on the Blockchain Okay and let's say on average for Somebody to buy this all they get Unreleased music every single time they Get a group chat every time you have a New release they get the stems they get Access to any of your concerts they have A collectible that's verifiable on the Blockchain whether or not it increases Or decreases in value is really uh you Know it's it's not uh something you Could really determine of course if your

Career grows then the value of that can Grow access all these really cool things Like unreleased music unreleased music Videos let's say uh you Pay let's say $10 per month Uh I really like this one guy who's been Making music his name's Nick D and he's Been making music on a while uh for a While and he has something called like The Freddy fam and his subscription for His fans is $10 a month so this is his Business model uh and he also has a book That's I think $30 and so he has Something going there that is quite Interesting but uh let's just say you Know this is this is the numbers right 5 To 100 people of those streams are going To view your page they're going to view Your website they're going to view your Instagram and probably get check out a Link in your bio so that's our Percentage right 5% out of those people Let's say that only uh 10% of your fans That are fans will buy 10% would be Between .5 right so half a fan and Uh And 10 Buyers and then let's just take an Average of this number let's go ahead And say that it's out of 1,000 stream so Let's just take the number in between

Here so we're we're looking at five if You if you create an offer you create Something like this that they can go Look at every song that you release it Has between this many streams if you're Doing marketing to those people and Directing them to your Instagram or to Your your your Tik Tok or to the link in Your bio and then they get to see this Offer if it's a good offer they like it You're looking at five Buyers for every song now you might be Saying well will if I get you know five Buyers at $10 a month uh you know that's That's $50 per Month right that's not a whole lot of Money right but actually what we're Looking at here is every person that Subscribes to your music business and Wants to be a part of your music get Unreleased songs get access to videos They are all going to stay for uh in Extended period of time or for sometime So we can actually assign what we would Call a lifetime value for each fan and Let's just say on average that they stay For $50 or sorry five Months five months on average so that's Actually $50 Uh Per fan per customer that buys so if you Have $50 per customer that buys and You're getting five buyers for every

Song that means you're getting $50 time Five Equals $250 per Month per Song If you create this marketing Strategy Now you might say well that's not going To pay my rent all right if you're doing A song a week you join the song a week Challenge for example I'll leave the Link down below you got here's the Option number One four Songs per month this is on monthly basis Four songs per month out of those four Songs you're going to break them down Into and I was just running the same Exact breakdown of content strategy with With a client I was working with and It's really funny because it actually Ties perfectly into what we're talking About here let's say we have 20 short clips that you're able to make From those four songs so each one you Make five Clips a week for each song Right that puts you at uh you know that Many pieces of content those four songs Uh they're going to be music videos if You'd like those clips are going on all Plat forms right put them everywhere on Every platform that has short form Content and then uh you're going to also Be uh building your email list because

Every person that joins this community Builds your email List and that's going To Build Brand and Cross Promo all right so so why is that Important well now this number Becomes compounded because you're Growing by building your content and Building your audience and this number Of streams increases so this number Increases but also you're you're cross Promoting and you are now growing on Multiple platforms so you can you can See this number increase so let's just Say that you're doing four songs so that Is four S this is option one right four Songs you have you have times 50 that Could be increasing your music Revenue By $1,000 per Month every month that you that you do This if you're getting this many Streams so now the math kind of adds up For subscription model of offering not Only streaming streaming is aside from This this is on all platforms streaming Is free but the fans the people that Want to be a part of uh you you get Access to all of the uh benefits that You're offering and the special things That they get access to when they join Your group for that amount per month and

For this right here uh will equal that Much per song and you're getting that Much all right so that's the first Option you could you can build your Music subscription business by doing This Okay um and so so this is with the song A week strategy if you want to run the Song a week strategy definitely um go Ahead and join the song a week challenge Down below if you would like to Basically it just breaks down how to Release a song every single week And then how to do monetization around The songs how to build uh your your Catalog of Music but let's go ahead and also say That we have um let's let's this is Option two let's say that you Are Um you are uh only wanting to create one Song per month so just one song Some People are like this they only release Four songs a year or something like that I don't want want to do a song a week But you want to make more offers and Sell your music then this could make Sense for you so from here you basically Take one song uh and you Do Um you do four videos based around your Song so rather than doing four songs one Video each you do four videos for one Song and you break each one down into uh

Into clips and and then you do the same Thing as far as your promo but you're Doing it only with one song so why is This powerful well what are these four Videos well I'm not going to make four Of the exact same music video I got you All right so you can do Acoustic you can do um media Interview you can do uh Unofficial video and and an official Music Video and you can do one of these each Week to keep it simple um and now you're Doing a lot of marketing for one song And so rather than um than having the Results of four songs over the course of Four songs $250 per month you're saying I'm going to go ahead and get not five Buyers but I'm going to Get 25 buyers from One Song and that would Equal uh that would equal um 25 Time Um or is that right yes $25 or 25 Buyers sorry 20 buyers 20 buyers per Song which um would put you 20 buyers on 50 would be $1,000 per month right so that actually Is the same thing as releasing Four at uh was song a week doing this Marketing System and then this is just Doing it in a way that you're offering

One song and doing all the marketing Around It right so so I think that's really Powerful I think that this is something That that I would encourage you guys to To try and embrace in your music system Uh while it's great to sell your music Let's say with like vinyl records or you Create a product around your music and You offer it the problem is is that You're having to do that every single Song and while streaming and getting Engagement on those songs can be Passive what one thing to uh realize is That the sustainability of growing your Music career basing it around monthly in Recurring revenue is going to be much More uh um reliable for you as an artist To be able to sustain your work ethic if You're getting monthly payments as Opposed to uh trying to get a lot out of One song and then leaving it for a while And it's not any recurring Revenue it's Just maybe merch sales or streaming Revenue or what have you versus let me Create a community that's recurring let Me create something that I'm bringing Value consistently inside of what I'm Already doing which is making music and Then how can I go ahead and create Um an offer around each song that gets Them to be directed from the song to This community and then they become a Part of this community I'm building but

At the same time I'm bringing them value At the same time I'm getting more money And return on a recurring passive not so Much passive because you're putting Active work right but it's a residual Income that is there recurring every Single month that's going to do it for This video guys if you enjoyed make sure To hit the like button make sure to Subscribe down below I really do Appreciate you all thanks for uh over 1,500 Subs uh it's been an awesome way To grow on YouTube and I appreciate you All I'll see you guys in the next video And don't forget for those of you that Are interested in offering your music on The blockchain do check out the Blockchain beaker.com uh and definitely Look at how we're doing this system on a Daily basis inside our own music Business trying to grow uh and also how Uh you can do it on a weekly basis by Joining the song a week challenge it's a 5-day challenge for free down below Thank you guys so much and I'll see you In the next video peace out

Categories NFT

Leave a Comment