Variety‘s Phil Gallo reveals that the real money in music these days is in getting your songs in movies and TV shows. This allows indie acts to as much as triple their income and produce the sort of albums the once thriving record industry would probably have paid for itself.
Variety: Developing alternative revenue streams first is no longer a case of putting the cart before the horse for recording artists, especially the independent acts who are finding that placements in television and film provide a bit of financial freedom.
Obviously visual media provide immediate paydays, and the return on investment for an artist, especially one working outside the major label system, can easily quantify the impact of a song placement.
“Double, triple,” guesses Nashville-based singer-songwriter Katie Herzig during a conversation about her annual income since she landed songs in “ER,” “Smallville” and on two episodes of “Grey’s Anatomy.” “It gives me freedom and takes pressure off me having to live off touring and record sales.”
THE “MOVIE MONEY” as several young artists call it, is having a dramatic effect on the direction they take with their albums. The bonus money provided by placements has led to everything from major label signings to enhancing the sound quality on an album to being in a position to offer downloads for free.
Business Insider Emails & Alerts
Site highlights each day to your inbox.