Multiple Streams of Musical Income

I really have Deborah Russell, whom I met in Los Angeles, to thank for the term.

Here's the article:

I had been trying for years to break into the music industry. Many people, as is the case with a lot of artists, gently told me not to bother. Even professionals encouraged me to keep it a hobby, such were the perceived barriers to entry.

But I persisted. After doing the music business course at Wits, I had newfound knowledge and energy which allowed me to keep moving toward my stated objectives and goals. More than a year after finishing the Wits course, I went to Los Angeles for a music conference. One of the most valuable lessons I learnt there was the concept of multiple streams of music income (MSMI). The basic idea behind MSMI is that instead of artists hoping to earn an income solely from record sales and gigs, they find other music-related ways of making money.

Given the downturn in sales from CDs and the increase in illegal downloads, the advice given was: find alternative sources of music income until you reach a critical mass where you can sustain yourself from CD sales, legal downloads and gigs alone.

Enter the opportunity to conduct research for the Gauteng Government on the music industry: this was a great way for me to earn an income doing something music-related (as long as it’s in music I’m very happy; the minute it’s not music-related I become frustrated). Not only that, but it also gave me the chance to increase my skills base concerning the local music industry, collect and gather research data for my PhD in music marketing and branding, and grow my music industry network, while also becoming more of a recognised face in the industry (because it’s a very small industry, actually).

The research also gave me the opportunity to continue working with Jonathan Shaw on various music projects including the Music Business Academy (MBAC), hone my skills as a music business entrepreneur, and position myself as an expert in the industry. This, together with teaching vocals, doing gigs, selling CDs and merchandise, teaching music business courses and consulting to the industry has created a sustainable income within the broader scope of music, while I’m waiting for my proverbial ship to come in. In the meantime, I am still in music, having fun, making money, and living happy.