Hey Steve! Alex B here. I got surprised just like Tony at how little money people say it's enough for them to go full time in music production. But it certainly varies from place to place, as you said. 2,000 US dollars a month here in Brazil would be enough for a decent living for most people, but probably not enough for a very comfortable life in the USA. Anyway, thanks for sharing your precious advice and your experiences with all of us. Quality over quantity is certainly the best tip for me. I think we can get faster and more prolific as practice working with quality in mind.
Thanks Alex, yeah the quality aspect is just so important for real, substantial results! Man, it's crazy how much cost of living varies around the world. It's why you see a lot of folks moving to Mexico and central/south America lately! Rent and cost of food has gone completely crazy in US and Canada.
Great and useful advice, thanks! I see that your colleague Daniel from stock music licensing advocate setting a timer to getting stuff done and working faster. I tend to lean towards quality as well but its difficult to balance it. Its a constant struggle I guess :)
@@Steven_BeddallI hear ya. I had to use subtasks to keep track of the different fields/data elements for each cue, so it just became far too unwieldy. But, I gave it shot 🙂
People underestimate how much $$$ it really takes to go full time. For example, in the US, you usually have to pay federal, state, and local taxes, both the employer's and employees' share of Social Security and Medicare, plus health insurance, and operating costs before you see a dime. Generally, you need to gross at least 2-3X your net take home. As for time management, check out Christian Henson's latest video called "Burnout". Great advice there!
Thanks for sharing Tony, yea the taxes really take a nice bite out of the pie at the end of the day. Having a great accountant is a real blessing and can be an integral part of the business👍
In the USA: The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.
In the USA: The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.
Great video! If it is not too personal, may I ask, how long did it take you to be able to cover all your monthly expenses solely with the income coming from music? I recall your conversation with Eric on one of the Podcasts about how you started so I assume it took some time to have a reliable income...
Hi Aleksandra! Yeah it took about a year or so after I quit my job in order for me not to constantly dip into my savings, I was making money but not quite enough to pay the bills. After about a year and half there was enough momentum, but I still put in lots of time and hustle before I quit my job too! Ps I will review your track today! Looking forward to it ☺️
@@Steven_Beddall this is good to know, thanks for sharing! I'd like to suggest making a video about your struggles/rejections/false expectations etc. throughout your music journey (I know you already talked about it in the podcast with Eric, but maybe some extra video, more specific and detailed one). I keep on rewatching your "2021 Year In Review" video to get some encouragement that it's possible to make a living out of music, but on the other hand once in a while it's good to remember that nothing comes easy and it requires struggles and dedication. I think such video will also serve as an encouragement to not give up!
For me, keeping the quality and composing for the libraries don't really go with eachother. The genre, vibe and mood that I do the best is not amongst the best selling ones in the libraries. If I want to make the best music I can, I have to stick to the genre I do best, and that kinda hurts my sales in a way. I'm confused a bit
@@Steven_Beddall New Age, Neo Classical. I usually make Sad/Romantic music. I assume this genre will do well in Sync libraries. But not in Stock. I'd really appreciate your idea about this.
@@hamidrezakhosravimusic Well Eric from Make Music Income does pretty well with his classical music, especially seasonal music on libraries. I think it depends on what you’re willing to try. I’m assuming you’ve got the skills to try your hand at more licensable genres, I’m always encouraging folks to try new things, it’s what keeps things fresh and fun!
✅ FREE ‘Intro To Music Licensing’ Course ►► bit.ly/freelicensingcourse
Hey Steve! Alex B here. I got surprised just like Tony at how little money people say it's enough for them to go full time in music production. But it certainly varies from place to place, as you said. 2,000 US dollars a month here in Brazil would be enough for a decent living for most people, but probably not enough for a very comfortable life in the USA. Anyway, thanks for sharing your precious advice and your experiences with all of us. Quality over quantity is certainly the best tip for me. I think we can get faster and more prolific as practice working with quality in mind.
Thanks Alex, yeah the quality aspect is just so important for real, substantial results! Man, it's crazy how much cost of living varies around the world. It's why you see a lot of folks moving to Mexico and central/south America lately! Rent and cost of food has gone completely crazy in US and Canada.
Дякую. Твій приклад надихає мене 😊
Dedicated time slots during the day is key. Great advice.
GREAT POST..
Great and useful advice, thanks! I see that your colleague Daniel from stock music licensing advocate setting a timer to getting stuff done and working faster. I tend to lean towards quality as well but its difficult to balance it. Its a constant struggle I guess :)
Thanks for the comment, yes it is always a struggle! I just think a little extra love goes a long way in this business 👍
@@Steven_Beddall Yeah I think you are 100% on point. 👍
This was awesome, man! It got me thinking about reorganizing my cues using google sheets. I'm using Asana now, but it's overkill for me. Thanks again!
Cheers! Yeah Asana was just too much to look at for me, I just couldn’t get into it
@@Steven_BeddallI hear ya. I had to use subtasks to keep track of the different fields/data elements for each cue, so it just became far too unwieldy. But, I gave it shot 🙂
People underestimate how much $$$ it really takes to go full time. For example, in the US, you usually have to pay federal, state, and local taxes, both the employer's and employees' share of Social Security and Medicare, plus health insurance, and operating costs before you see a dime. Generally, you need to gross at least 2-3X your net take home. As for time management, check out Christian Henson's latest video called "Burnout". Great advice there!
Thanks for sharing Tony, yea the taxes really take a nice bite out of the pie at the end of the day. Having a great accountant is a real blessing and can be an integral part of the business👍
In the USA: The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.
In the USA: The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.
I wanna buy the new course but it's saying that it's not available for purchase.
Great video! If it is not too personal, may I ask, how long did it take you to be able to cover all your monthly expenses solely with the income coming from music? I recall your conversation with Eric on one of the Podcasts about how you started so I assume it took some time to have a reliable income...
Hi Aleksandra! Yeah it took about a year or so after I quit my job in order for me not to constantly dip into my savings, I was making money but not quite enough to pay the bills. After about a year and half there was enough momentum, but I still put in lots of time and hustle before I quit my job too!
Ps I will review your track today! Looking forward to it ☺️
@@Steven_Beddall this is good to know, thanks for sharing! I'd like to suggest making a video about your struggles/rejections/false expectations etc. throughout your music journey (I know you already talked about it in the podcast with Eric, but maybe some extra video, more specific and detailed one). I keep on rewatching your "2021 Year In Review" video to get some encouragement that it's possible to make a living out of music, but on the other hand once in a while it's good to remember that nothing comes easy and it requires struggles and dedication. I think such video will also serve as an encouragement to not give up!
@@Steven_Beddall thanks, the track review is received! 🙂
@@aleksandra4396 great suggestion, thanks 🙏 I’ll try to cover that topic at some point!
Hi Steve! Do you have to be in America to be an Artlist artist?
No they accept applications from anyone!
For me, keeping the quality and composing for the libraries don't really go with eachother.
The genre, vibe and mood that I do the best is not amongst the best selling ones in the libraries.
If I want to make the best music I can, I have to stick to the genre I do best, and that kinda hurts my sales in a way.
I'm confused a bit
What genre is your best?
@@Steven_Beddall New Age, Neo Classical. I usually make Sad/Romantic music. I assume this genre will do well in Sync libraries. But not in Stock.
I'd really appreciate your idea about this.
@@hamidrezakhosravimusic Well Eric from Make Music Income does pretty well with his classical music, especially seasonal music on libraries. I think it depends on what you’re willing to try. I’m assuming you’ve got the skills to try your hand at more licensable genres, I’m always encouraging folks to try new things, it’s what keeps things fresh and fun!
@@Steven_Beddall Thank you 🙏🙏🙏
🔥🔥🙏🙏❤❤