Most aspiring artists intuitively understand that there’s value in building an audience for the long-term rather that focusing solely on short-term revenue. Bands offer free downloads, play free shows, and spend countless hours on- and offline interacting with listeners in hopes of developing a fan base that will support them over their careers.
But how much is a fan actually worth? How much should an artist be willing to sacrifice (or spend) today to acquire fans? And how many fans are needed to be able to make a living as a musician?