Dizzyjam, an online merchandising firm that caters to musicians, asked 207 bands (mostly from the U.S. and U.K.), about their financial situations. Seventy-two percent of them said they earned some money, but not near enough to live on; 23 percent lost money making music, and only 4.3 percent earned enough to live solely off their music. You already knew that making a career out of music would be difficult, but it's doable, especially for persistent bands with a decent following. Even if you don't make it big, touring the country is a priceless experience. Here are three ways to raise the necessary funds to get your tour started:
The crowdfunding industry raised $2.7 billion in 2012 and $1.5 billion in 2011, and the financial consulting firm Deloitte estimated that 2013's crowdfunding efforts would raise $3 billion total (we have yet to see exact numbers for last year). The money is there, if you put forth the effort—5,067 music-related projects were successfully funded on Kickstarter in 2012, the most across all industries. In 2012, Amanda Palmer (of the alternative rock duo Dresden Dolls) raised more than $1 million via Kickstarter for her tour and record. It can be done.