This morning I dug into the comprehensive report MIDiA did about the current state of songwriting, and it was super interesting. Here are the top 10 takeaways I gathered from the report:
1. Earning a Living is Tough
Less than 1% of songwriters earn a living solely from songwriting. Most songwriters juggle multiple roles such as producing or performing to make ends meet. Only the top 10% earn over $30,000 annually.
2. Creative Fulfillment Over Fame
For most songwriters, success isn’t about fame but about being creatively fulfilled and earning a sustainable income. The glamour of awards and fame takes a back seat to just making a living doing what they love.
3. Sync Placements are Golden
Sync placements (getting your music in TV shows, movies, ads) are highly sought after. They provide upfront money and boost back-end royalties, making them more attractive than chart hits.
4. Diversified Revenue Streams
Songwriters are increasingly looking to diversify their income. While back-end royalties from streaming are slow and small, front-end revenue from works for hire, studio fees, and sync deals are crucial for sustaining a career.
5. Social Media Presence Matters
Building a brand and fanbase on social media is now a significant focus. It’s not just for artists anymore. Songwriters are stepping into the spotlight, sharing behind-the-scenes content to engage fans and build their profiles.
6. The Role of AI
AI is starting to play a role in music creation, particularly in brainstorming and generating demos. While there’s some resistance, younger songwriters are more open to integrating AI into their creative process.
7. Need for Better Publishing Deals
Many songwriters sign publishing deals primarily for the assurance of royalty collection, rather than the added value services like sync opportunities. Publishers need to communicate and deliver more value to attract and retain songwriters.
8. Education and Knowledge
Understanding the music publishing business is crucial. Songwriters with more knowledge of the industry tend to earn more. There’s a need for better educational resources to help songwriters navigate the complex landscape.
9. Marketplaces are Game-Changers
Platforms like Soundbetter and Fiverr are becoming important for songwriters to sell their services directly. This approach helps them bypass the traditional, often complicated, publishing royalties system.
10. Managerial Support
There’s a significant demand for songwriter managers. Only a small percentage of songwriters have managers, but many more want one to help grow their businesses. Managers can help negotiate better deals and find more opportunities.
Personal Anecdote
Reading this report reminded me of my early days in music. I was juggling multiple gigs—producing, performing, and writing—just to pay the bills. Sync deals felt like a distant dream until I finally landed one. That upfront check was a lifesaver, and seeing my song in a TV show was surreal. Building a social media presence was another game-changer. Sharing snippets of my songwriting process on Instagram brought in a lot of new fans and even some collaboration offers.
Conclusion
The landscape is tough, but with the right strategies and a bit of luck, songwriters can carve out a sustainable and fulfilling career. Stay creative, stay informed, and keep pushing those boundaries!
If you’re an aspiring songwriter, remember to diversify your income streams, leverage social media, and never stop learning about the business side of music. And if you’re looking for tools and support to navigate this journey, check out what Soundraiser has to offer. Keep writing, keep creating, and keep shining!
