A music industry study has found that 76% of new artists say that their music career is financially unsustainable.
The figures were released in April as part of Toolroom Academy’s report ‘From Mix to Mainstage – The Blueprint for Emerging Electronic Artists’.
The report, researched in collaboration with Audience Strategies, aims to “identify and understand the barriers that emerging artists face and provide actionable strategies for overcoming these challenges, ultimately paving the way for sustainable careers in the industry.”
The data is sourced from surveys with over 250 ‘new’ artists, as well as interviews with more established artists, educators and industry professionals.
The report helped Toolroom Academy to quantify what it had learned through running its academy, working out that “there is a significant gap between talent and recognition.” Following April’s release of the report, Toolroom Academy announced recently (June 5) that it will be opening up a new Artist Development Masterclass.
The 12-month programme has been designed in response to the findings of the report, helping artists to create a “complete business plan”, and covering a range of topics from things like music law, to basic strategy and networking.
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