Ep. 29: Chicago Musicians Uncover 300+ Income Sources

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Randy Chertkow and Jason Feehan are musicians, authors, journalists, public speakers, instructors, and consultants. Their recently released book, Making Money With Music ​(Macmillan), shows musicians how to tap over 100+ revenue streams, grow their fan base, and thrive in today's music environment. They also wrote the ​The Indie Band Survival Guide​ (1st & 2nd Editions, Macmillan), The DIY Musician (Random House), are columnists at Electronic Musician Magazine, and write a newsletter at www.MakingMoneyWithMusic.com.

They professionally speak and consult on music business and musician revenue development at conventions, music organizations (The Recording Academy -- grammy.com), cities, and schools, including speaking at venues such as Carnegie Hall. Their band, Beatnik Turtle, released over 500 songs spanning 20 albums, licensed music to Disney and Viacom, and wrote music for TV, film, and theater including Chicago's Second City. In 2007, they released a song every single day of the year.

Topics discussed:

  • Building a DIY music career
  • Licensing music for Disney
  • Writing a book with a major publisher
  • Over 300 sources of income for musicians
  • The entrepreneurial mindset
  • Teaching music business in Chicago
  • When opportunity meets preparation
  • Recording 20 albums
  • What it looks like to pursue things beyond music
  • There is no shame in generating income outside of music
  • Speaking at Carnegie Hall
  • 14 registrations to collect royalties
  • Active vs passive income
  • Forms of passive income
  • Consistent vs inconsistent income
  • “What stage of artist are you?”
  • Startup vs Established vs Professional
  • Leveraging your likeness
  • Artist with a fanbase vs business-to-business
  • Live vs recorded music
  • Different forms of royalties
  • Starting your music business for $0
  • Having a team
  • Merchandise
  • Minnows, Dolphins and Whales
  • The importance of offering high end items
  • Inventing value
  • Anchoring
  • Developing a persona
  • Healthy detachment
  • Tap, boost and reduce

Resources & names mentioned:

Connect with Randy & Jason:

www.MakingMoneyWithMusic.com

 

Thanks for listening and keep thriving!

 

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4 Simple Steps to Save an Emergency Fund

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