On the other side will be everyone else. They call this "leveling the playing field."
So while you won't ever get that bazillion-dollar record deal that would set you up for life, pretty much no one else will either. Which will mean that everyone will have a much better chance of being appreciated for their work and merit rather than their valuable connections and/or label support.
Now, I want you to take a deep breath and say this out loud: "I am not in this for the money."
If that statement made you cringe, if you gagged a little bit at the thought that you were never going to live on the expensive side of Mullholland Drive, then I strongly urge you to go back to school and get an MBA and possibly your Series 7. There are a lot of great ways to make money, and music isn't one of them (it never really was anyway).
If it was easy for you to admit this, then the death of the music industry just made your life a lot easier. Now that files are shareable and the internet is wide open, you will have an easier time being heard than anyone who ever came before you.
Now that there is no way to protect data, the only way to real financial success in music will be live shows, the experience of which can't be replicated in e-file. In order to get those live shows happening, you've gotta get people listening to your stuff. In order to get people to listen to your stuff...you're gonna have to give it away for free.
Save up your money. Make a demo. Recording software is cheaper than ever. Then, by god, burn it onto CDs, post it free on the internet (Harvey Danger staged a relatively huge comeback doing this very thing), and ask every person you know to listen to it and pass it on. If you are worried about making $10 off your CD, then you're looking at things too narrowly (or you should be the president of TVT). If you're working at having a legacy and possibly getting booked at the big venues, then you need listeners.
These days, when you book a show, promoters rarely ask for your website anymore. Instead, they want your MySpace address. The reason for this is simple: MySpace shows the number of fans, listeners, and daily traffic you have. That's critical information for someone to have when they feast or starve based on the number of people who come through the door. The more people you can get to listen to your music--and again, it's never been easier--the better shot you have at leaving a mark on the music world and maybe making enough of a buck to quit Jiffy Lube.
The playing field has changed. In the next decade, the live venue will be the scoreboard that determines success, and the major money maker for musicians everywhere. The major label deal is trundling out like a Studebaker. Record sales are only for people whose fanbases can't operate Limewire (my parents, for instance, just love Josh Groban, and he makes a killing at Sam Goody). With less money for labels to cram music down people's throats, the internet is wide open for you to shout your message to everyone. It's all up to you. Put your music out for free. Get listeners. Get a buzz. Book the shows. Draw the followers. This is the new success, and it is within your reach.
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