All of those things paint an extremely dismal picture, BUT it's not all bad. True enough it's hard for even the biggest mainstream musicians like Bob Dylan and Eric Clapton to sell a million records, which just a few short years ago could be done in a week or two. Artists aren't even selling gold, which is half of that, even months after their album comes out.
The reason that I say it's not all bad is relies on your willingness to reprogram yourself on how the industry works. I'll break down some strategies that are not necessarily new, but for many artists a refresher is in order.
Be independent: With all of the successful examples of independent record label success, many artists are still shopping demos and breaking their necks to get signed to a major record label. The reality is that major labels are only taking chances on mega artists with huge followings and proving sales records, and even those mega artists are finding less support from the majors. For new artist, or those who have been dropped from the majors, starting an independent label is the way to go. Don't be afraid or embarrassed of being on a smaller scale, because there are bigger rewards and dollars in it for you. Take an artist who sold 300,000 albums, but was considered a failure on a major label and was subsequently dropped. Just think if he starts an independent label and sells that same 300,000, but this time he keeps all the profits. At $5 to $10 a copy...well you do the math. Let's say that you don't have that huge following, but you got what it takes to sell one, five, or even ten thousand albums or better. You're making more than some people make at their jobs.
Make your name a brand: Artist are and have been attaching their star power to products to sell everything from clothes, soda, movies, and even gold and platinum teeth. Too many think that record sales and performances are the only ways to get paid. Even on a small scale, independent artist with significant buzzes can make small fortunes hawking merchandise like T-shirts, bobble heads, g-strings, and even mouse pads via their online and offline presences. Having said this, don't focus on merchandising as an income. Utilise it as a free advertisement tool. People buy your t-shirt with your name on it. How many people do you think will see this? Lots. How many people may be curious about you (as yet) unknown name? More than you think. Any profit that you make on merchandise is, of course, always a bonus.
I truly wish you well.
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