Grants, Fans Remain Key Artist Revenue Streams
Submitted by Steve on February 4, 2012
Here is a video presentation from the Future of Music Coalition's Kristin Thomson at midem 2012. It's a “first look” at FMC's survey of 5,000 US artists about where their revenues come from.
The survey notably reveals that “merchandise and branding is only relevant to a small number of musicians;” grants, and funds from fans, are their two key revenue sources. That said, sponsorship has proven to be one of the new sources to kick in where that from labels may have dropped off. “Corporate sponsorship of videos has been a total revelation,” said one US rock band. The survey also found that artists are “increasingly strategic about their brands“, investing for example in “dedicated merch guys”, to quote one respondee.