Music Industry is a dying business why? Read my conversation with another industry professional

Me: Basically. And it tells you that you really need a hit record to go anywhere. But it also tells you that you need to have a lot of passion to be in it.

Anonymous: Unfortunately it is a passion and no longer a way to make a living at your passion. It tells you that it is a dying industry that barely functions by not paying people.

When the market can no longer support full time producers and professional song writers you wind up with songs no one wants to buy. But as the tide turns it will be acts and musical groups that survive due to touring – everything else will be incidental.

I think the key will be finding new ways to monetize your songs – the traditional methods really don’t support making a living. Even at say 40K a song – how many can you sell per year? Say at your peak it is say 10 0r 20 a year – major acts make that in a week.

I still think the only way to make $ is the 360 deals – they just have to be well funded.