How to acheive a 6-figure income composing! ($$$)

[kevinmathie]

I don't know if there are any threads already like this on the board, but since I didn't see any I thought I'd start one. I hope this is the best section of the forum in which to post this.As musicians, the main focus -- in fact, almost the exclusive focus -- of our past training has probably been on creating a good product. We practice, we take private lessons, we gig, we read, all in an effort to make the best music we can possibly can.But, very little effort is ever spent on marketing that talent. On turning it into cash. For those of you who have been to college as a music major, how much of your time there was spent on the business aspects of the music industry? At the university I attended, they didn't offer a single Business-of-Music class. Indeed, even as an undergraduate I could tell that my professors were completely clueless about how to make it as a musician in the "real world". They taught others how to be musicians. That's how they made their money in the music industry. That was their niche.I think the fact that we're part of Taxi, and perhaps other professional email groups and forums, means that we recognize that we need help in this regard, and are taking steps to solve the deficiencies in our education.Hence, the purpose of this thread.How do we as composers make a nice living at what we do? For the purposes of this thread, let's say that "nice" means 6-figures. I'd be happy with upper-5-figures, but as long as we're having the discussion, let's shoot for 6, shall we?Of course, there's always the possibility of getting a record label to pick you up, and catapult you into Billboard's Top 10 for weeks on end, thereby giving you an upper-7-or-8-figure income, but for most of us that's not very realistic. I'm interested in discussing realistic strategies that a composer like myself can use to eventually earn a 6-figure income on a consistent basis. For the purposes of this thread, let's say we've already done the work to perfect our music-making skill to the point that it's highly marketable -- something I, personally, am still working on.What do we do after that? I imagine that Taxi can be part of the solution, but I also imagine that there is much more to the story. I'm guessing that submitting songs to Taxi is only a fraction of what someone needs to do to acheive a 6-figure income as a composer.Some specific details that would be of interest to me:1) What can I realistically expect to earn from music libraries? What kinds of deals are the best? What deals should I stay away from?2) What can I realistically expect to earn from ASCAP, via underscoring music for Television? How accurate is their "sampling" process?3) Assuming I learn to become a marketable songwriter, how does this effect my income from music libraries and ASCAP?4) Shooting for the moon, let's say that I write a song for an artist that gets radio play, and even makes it into the Billboard 100 somewhere? How much money does this translate into (recognizing that there are a lot of variables in this broad hypothetical situation).For those who are older and wiser -- or just wiser -- than I am, what are your thoughts and strategies?

[matto]

Boy Kevin this is a L-O-A-D-E-D question! Entire BOOKS have been written on this topic. My best advice is attend the Road Rally to get some answers to some of these questions. Buy some books too while you're there... The problem is there are so many variables in things you can do as a composer within the music industry...so many variables in how much a "placement" can make...so many variables in the "size" of an underscoring gig from student film to Hollywood bluckbuster...Everytime you'd mention a "figure" you'd have to type up a page of disclaimers to put that figure in perspective...Plus then there's the question of how much background knowlegde one should assume in the reader...would they know the basic PRO terminology as it's used on your ASCAP or BMI statement? Or should one begin the story at "Adam and Eve"?In other words I'd like to help you and everybody else who's interested in this topic (which must be just about everybody on this board )...in as much as I'm qualified to do so (there's that first disclaimer already )...but where to start and how to find the time for the lengthy dissertation required?If anybody has any suggestions let me know... In the meantime the most extensive amount of real world info I've managed to share up to this point is in this thread:http://taxi.proboards27.com/index.cgi?b ... 35705Maybe this will get you started?matto

[onoffon]

Then, there's the whole "left-brain/right-brain" conflict as well.Can truly creative people also be savy business people?If, as an artist, you are writing for the specific purpose of selling, don't you then stifle your own creativity? Some of the most brilliant artists time has ever known didn't give a rat's behind what other people thought of their art - they were creating for the sake of art itself.There have been books written about that as well and probably many more to come...

[matto]

Quote:Then, there's the whole "left-brain/right-brain" conflict as well.Can truly creative people also be savy business people?If, as an artist, you are writing for the specific purpose of selling, don't you then stifle your own creativity? Some of the most brilliant artists time has ever known didn't give a rat's behind what other people thought of their art - they were creating for the sake of art itself.There have been books written about that as well and probably many more to come...True enough Von, but I think from the OP's question we can assume he's interested in using his musical talents and craft to make a living and provide for his family, not so much in creating "art pour l'art"...two entirely different approaches...

[kevinmathie]

Matto,Thanks for the link. I loved your answer on that thread! Very informative.In fact, that post has me thinking, but before I formulate my next question, I need to absorb your answer on the other thread better.Thanks!Kevin