One of the great things about Production/Songwriting is the possibility of stable income.
Music is just like any other industry.
The cycle continues!
If you continue to push out great content for the bands and artists you work with, they will keep coming back to you for more work. The key is to always be learning, to keep on top of things you need to work on and keep abreast of the industry’s leading products.
Aside from your initial ‘Track Fee’ there is also the potential to make consistent income by building up your royalties.
10% from the profits of one song may not sound like a lot, but 10% of 100 songs is a different matter. Building up your royalty base over time is an amazing way to get paid while you are sleeping! Over the course of your career this can really start to accumulate to the point where you are receiving a substantial income.
Songs you produce can also be picked up for TV or streaming services. These are called ‘syncs’. These syncs can either be one-off payments or be paid everytime that song is played. This is another form of consistent income that starts to add up.
Managers can be a great asset in helping to push your work onto those platforms.
Many producers also create YouTube channels to start a community around them. Depending on the amount of views, these videos can generate a great residual income.