When you talk about revenue streams, the biggest source of revenue for the majority of major artists these days is live performances and touring. Compared to traditional spins or record sales, you may sell a million records as an artist, which could take a year to sell. Or, maybe you get a million spins, and it could take 10, 11, or 12 months to reach that point.
An artist who is getting that level of sales and performance royalties is most likely able to sell out Madison Square Garden. An artist will make more in one night at Madison Square Garden than they will in the first six months of releasing a song. Every big artist realizes music is the business card that gets you in the door to touring and really generating income. At the end of the day, an artist will end up making more money in one month of good, strong touring than they will in a year of spins and performances on the radio and likewise.
The best advice that I could give to any aspiring artist is to make your live show great. The way that you make a live show great is to play live. There’s no secret — that’s how you do it. The old adage in the music industry is a band that plays 100 shows live is a completely different band than the one that plays their first live show. A lot of times when big artists tour, you’ll find that within the first couple of weeks of the tour, they’re playing secondary or tertiary markets. You may ask yourself, “Why is Rihanna in West Palm Beach and San Antonio as opposed to New York, Dallas, Boston, Los Angeles — the major media mecca centers?” That’s because artists always want to gather steam, get the machine running smoothly, get the kinks out of a show, and really make it run well. With today’s shows, that’s no small feat. Between the pyrotechnics, the sound, the lighting, the staging, and all the things that go on, it’s really important that all pistons are firing at the same time to make the show great.
Online Music Education: How to Build Your Fan Base
I understand that you guys aren’t all going to sell out Madison Square Garden like Drake. You need to make your live show compelling on the club level. It doesn’t matter if there’s five people there, 50 people there, or 500 people there. That means you rehearse. That means you build your following. That means you slowly build your audience outside the epicenter of your home base. For example, if you’re a New York-based band, you shouldn’t overplay New York. You should play a show in Brooklyn, maybe a show in Manhattan, then take a little break. Do you play a show in Westchester? Yes. Maybe try and hit Philly. Maybe you go to Hartford. Maybe you go into Boston, and slowly build your center out. That’s how you build your fan base.
Build a Base at Home First
A great story that I love to tell is a friend of mine has been a manager in Chicago for many years. They’re a very big manager and have managed a lot of really great acts. Artists would call him all the time in Chicago and say, “Hey, we’re looking for a manager.” And he would say, “Can you sell out the Metro?”
Those who don’t know, the Metro is a historic club in Chicago. Every great artist has come through the Metro. It doesn’t matter if you’re the Smashing Pumpkins or Kanye. It’s about a 900-person capacity room and very famous. And every great artist that has come to Chicago has sold out the Metro. More often than not, the artists say, “Well, no, I can’t sell out the Metro. I can sell like 300 tickets.” And he would say, “Well, when you sell out the Metro, give me a call again.”
You’re not going to be the biggest band in the world if you’re not the biggest band in your hometown. Build your fan base locally. Build those fans, the real fans who are going to stick with you through thick and thin before you try and take over the world. Everybody starts with 1,000 real fans and builds out from there. You need to do the exact same thing.
Get critical feedback about your show. Make sure your show’s great. When you play, make sure it’s an event. If you overplay, nobody’s going to want to see you anymore. On a long-term basis, that’s how you’re going to make a significant amount of money in the music industry if you’re a performer. If you’re a manager, that’s also how you’re going to make commission.
