What Is a Music Entrepreneur?
An entrepreneur in business is often thought to be a visionary, someone who believes that you must take risks to earn rewards or an innovator seeking to provide solutions to everyday problems. Jeff Bezos and Mark Zuckerberg, as examples, founded Amazon and Facebook respectively.1,2 While there is no question that these two individuals were entrepreneurs, it is important to note that one does not need to follow directly in their footsteps to have a great career as an entrepreneur.
For instance, the artist Toby Mac has written and sold several books, is the founder of Gotee Records and even has a clothing line.3 But it is important to remember that being an entrepreneur in the music industry will look different for every person.
In my experience, to be a music entrepreneur means to embrace the hyphen. Creating and performing music (aka the fun stuff) are just parts of what a successful music entrepreneur does. This role combines the skills of a creator, performer, producer, engineer, manager, promoter, marketer, fundraiser, accountant and more. For starters, they need to understand graphic design, contracts, promotion, marketing and how to manage social media. In short, they need to be comfortable running a music business, not just great at writing and performing music.
In This Article:
The Business in the Music Industry
According to the Recording Industry Association of America (RIAA), in 2018 the music industry contributed $170 billion in value to the U.S. economy and supported 2.7 million American jobs.4 This means there are plenty of opportunities to diversify one’s income as a music entrepreneur. In his book, “How to Make it in the New Music Industry,” Ari Herstand lists 100 jobs in the music industry that are not recording artists or performers.5 Likewise, there are 139 differed types of music industry jobs.6 These positions include artist and repertoire representatives, booking agents, session musicians, audio engineers and assistant engineers, graphic designers, music producers, songwriters, collaborative keyboardists and music bloggers, just to name a few.
While not everyone may thrive in each of these roles, they can offer aspiring entrepreneurs an opportunity to engage with the industry while advancing their performing career. More importantly, each opportunity is a well-respected position that can help build connections and can be a lot of fun, all while giving someone an opportunity to work within the music world.
The Reality of Music Success
As music consumers, we often have the perception that success in the music industry is somehow related to wide-scale notoriety stemming from a place of obscurity. For example, we see an artist like Billie Eilish and her brother, Finneas, win five Grammys in 2020 for an album they produced in a bedroom. We are then led to believe if we have a home studio and record in our bedrooms, then we too will have that kind of success.
While this is an inspirational back story that may lead to more bedroom studios, it would be difficult for most artists to reproduce because there are not many individuals who possess Finneas’s high level of skill with recording equipment and digital audio workstations. Understanding that this type and approach to success is only true for a small percentage of artists and bands will go a long way to individuals developing a great career as a music entrepreneur.
Becoming a Music Entrepreneur
The current music industry is ripe with potential for artists who enjoy connecting with others and do not mind putting in some work behind the scenes. While gaining the title of a music entrepreneur is relatively easy, since it does not require generating an income, having a sustaining career in the music industry takes perseverance, dedication and hard work. I would encourage anyone interested in a career in the music industry to embrace the duality of creating art while embracing the business side of music. Becoming an entrepreneur of music begins with a focused mindset and as with most things in life, commitment is the key!
When considering what part of the music industry to focus on, be realistic. Begin by reflecting on your skill set and creating a list of potential jobs that fit. In my experience, one of the best ways an aspiring music entrepreneur can use their talents outside of writing and performing is by working as a music director. Sure, it takes a bit of skill, but you don’t have to consider yourself the best musician on the stage to be a musical director. You just need to be willing to put in the work and be open to learning on the job.
If music directing seems like a good fit, dive in full force to searching for a music director position and think outside the box if necessary. Imagine, for example, working as a music director on a cruise ship and getting to travel to exotic destinations while working on your craft and networking. What fun! Oh, and by the way, according to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for music directors and composers was $62,590 as of May 2023.7
As another example, entrepreneurs who aspire to have a solo vocal career can make connections while using and refining their talents by moonlighting as recording session singers or live backing vocalists. The BLS states that musicians and singers can earn a median hourly wage of $39.14 as of May 2023.8
Concluding Thoughts
There are some practical steps that music entrepreneurs can take when starting out in the music industry. You could seek out a program designed specifically to train you in the basic skills necessary to work in the music industry, such as the Bachelor of Arts in Commercial Music at Grand Canyon University.
In the commercial music program at GCU, you will be taught core music skills such as songwriting, arranging, and how to use digital audio workstations to fine-tune your art. At the same time, you have the opportunity to gain important entrepreneurial skills, including how to leverage social media communities, the fundamentals of advertising skills and self-promotion, and best business practices for professional creativity.
To become a music entrepreneur, you must be ready to broaden your skill set. Rather than focusing on individual success, focus on having a music business mindset. This does not mean you should forget about writing a performing music, but rather become a student of the music industry and be willing to try new things. Spend time studying music theory, find a mentor in the music industry and make connections. You never know when meeting someone new may lead to a songwriting collaboration, performance or recording opportunities, or even a life-long friendship. After all, who would know better the life of music business entrepreneurship than a like-minded music entrepreneur. And don’t forget to embrace the hyphen!
1 Britannica Money. (2024, Sept. 16). Jeff Bezos: American Entrepreneur. Retrieved Sept. 17, 2024.
2 Slack, S.J. (2024, Aug. 1). Who is Mark Zuckerberg? Investing.com. Retrieved Sept. 18, 2024.
3 TobyMac. (n.d.). TobyMac Nothin’ Sweeter. Retrieved Sept. 18, 2024.
4 Stoner, R., and Dutra, J. (2020). The U.S. Music Industries: Jobs & Benefits. RIAA. Retrieved Sept. 8, 2024.
5 Herstand, A. (2023, Jan. 17). How to Make it in the New Music Business. Retrieved Sept. 8, 2024.
6 Careers in Music. (2024). Music Careers: The Complete List. Retrieved Sept. 8, 2024.
7 The earnings referenced were reported by the U.S. Bureau of Labor Statistics (BLS) Music Directors and Composers, as of May 2023, retrieved on Sept. 15, 2024. Due to COVID-19, data from 2020 to 2023 may be atypical compared to prior years. BLS calculates the median using salaries of workers nationwide with varying levels of education and experience. It does not reflect the earnings of GCU graduates as music directors and composers, nor does it reflect the earnings of workers in one city or region of the country or a typical entry-level salary. Median income is the statistical midpoint for the range of salaries in a specific occupation. It represents what you would earn if you were paid more money than half the workers in an occupation, and less than half the workers in an occupation. It may give you a basis to estimate what you might earn at some point if you enter this career. Grand Canyon University can make no guarantees on individual graduates’ salaries. Your employability will be determined by numerous factors over which GCU has no control, such as the employer the graduate chooses to apply to, the graduate’s experience level, individual characteristics, skills, etc. against a pool of candidates.
8 The earnings referenced were reported by the U.S. Bureau of Labor Statistics (BLS) Musicians and Singers, as of May 2023, retrieved on Sept. 15, 2024. Due to COVID-19, data from 2020 to 2023 may be atypical compared to prior years. BLS calculates the median using salaries of workers nationwide with varying levels of education and experience. It does not reflect the earnings of GCU graduates as musicians and singers, nor does it reflect the earnings of workers in one city or region of the country or a typical entry-level salary. Median income is the statistical midpoint for the range of salaries in a specific occupation. It represents what you would earn if you were paid more money than half the workers in an occupation, and less than half the workers in an occupation. It may give you a basis to estimate what you might earn at some point if you enter this career. Grand Canyon University can make no guarantees on individual graduates’ salaries. Your employability will be determined by numerous factors over which GCU has no control, such as the employer the graduate chooses to apply to, the graduate’s experience level, individual characteristics, skills, etc. against a pool of candidates.
Approved and verified accurate by the author of the blog, Dr. Mark Huggins, on Oct. 22, 2024.
The views and opinions expressed in this article are those of the author’s and do not necessarily reflect the official policy or position of Grand Canyon University. Any sources cited were accurate as of the publish date.
