Why Musicians Go Broke | Losing Everything

[@adamivy]

Has this been an issue for you in your music career? Is the financial stuff such as forming a business or reporting taxes frustrating for you? Let me know in the comments or as a reply to this comment.

[@MacDeath_666]

I can't find the money to invest in my music ATM.

[@Powers_That_Be]

I am 42 years old and reentering the rap game. I may be out of my mind, but my gut tells me it's the right thing to do. Is there any specific advice you would give to someone over the age of 40 just entering into the business or more importantly re-entering into the business. on my own I am learning things of drastically change since 2007, which was the last time I performed. At that time we were still selling CDs out of the trunk (is disc makers still in business?). I'm an old dog learning new tricks and I've come to appreciate your channel over the last few months and I was wondering if you already had some videos that covered issues specific to old farts like me? If not what advice would you give?

[@LEEDAVEY1984]

@@Powers_That_Be Age means nothing in the music game Tony. Obviously if 'The Machine' is building a fresh faced boy band, they are not going to look at the likes of you and I. But check out this video Adam did kzbin.info/www/bejne/h4nTd5mAqMafpLs and it just nails it. I live in the UK and tracked Julian down to see if it was happening like the video, and he's a really nice guy, It was this video (and my music is a million miles away from Julian's) and speaking to Julian that made me contact Adam and enlist on his course. Adam is no snake oil sales man and he is no shark. Never ever felt pressured by the dude and he is so human. I sincerely encourage you just to watch the video if you have the age bud digging in your ear because I did until watching it!!! And I'm no employee of Adam's etc, this is not a commission. Just glad to see that it wasn't only me who thought I'm over 40, the ship has sailed.

[@stevieflowersbeats1506]

@@MacDeath_666 sometimes the grind starts just like it does for everyone with any kind of goal. Put in those extra hours at the 9-5

[@premiumdnb]

Good video adam, this is a discipline. Happy holidays.

[@BigShotBeats]

Many want to make the million but don't know how to manage 1 dollar. Taxes are extremely important and cant be overlooked!

[@adamivy]

Exactly!

[@migzart1434]

Ironically enough, managing money isn’t my issue. It’s making money off my music. On a side note, Dave Ramsey, Minority Mindset, and Steven Graham are great KZbin channels that teach financial literacy.

[@kidbrian4213]

when covid ends you gotta start doing live events. youve gotten really good at speaking! so engaging!!

[@adamivy]

Thank you!

[@beatsby23]

There's nothing to add. He is a very good speaker. Very motivating!

[@jamesrainmusic4977]

The time varies, it's more of a motivation thing. I sit and write songs all day just for 5-6 people to listen. Living off $300 every 2 weeks. Fortunately in a position to be comfortable with help from family. I've had to learn everything from scratch. Photoshop, Graphic Design, Music Theory, Getting a degree in Writing, how to mix and master on pro tools, how to edit videos etc. Making mistakes almost everyday. Being creative is absolutely the most draining activity when I think about what I'm doing it for. Am I just doing it for recognition and money? Or do I just like writing what I feel. I hate this feeling and it makes me want to just quit. I constantly lose motivation but something inside gets that fire again when I see someone comment on my posts or I hear a beat and I need to write a song to. Your videos really help me Adam. I need to focus on the importance of my life. I need to find balance and not burn myself out. I have to manage myself because no one else is going to. Hope you have a great Holiday Season and a Happy New Year. To you and everyone here working the grind. #2021isyouryear

[@Itsboyprince]

So true

[@DaveChips]

In my 10 years of making music... I don't think I have a single song on my channel cuz I always feel that it never enough... But what makes me happy is that time when I play true a song... And I'm happy with it... There is no need to add in anything... Take out anything... Make anything louder or quiet... The track just plays from start to finish without me judging it... That's the best feeling ever 😁

[@jamesrainmusic4977]

@@DaveChips that's what its all about

[@luckirye]

Damn hit hard James. I’m going to check out you music and give you some feedback. Keep up the grind but do it smarter

[@raccoon4679]

HEEELLLLLLLLL YEEEEEAAAAHHHH. always love to see a new Adam Ivy video in my notifications.

[@AdamizedBeats]

Fr

[@dc70]

Same 😎💪

[@nawsh2252]

Working on the financial setup! Just paid off $2,500 in credit card debt with my holiday bonus. Working on getting my finances back under control so maybe one day I CAN quit the "dependable" day job.

[@GeoZero]

That's the way it is with any self employed business - restaurant owner is customer by customer hoping for people to come back again and again... literally every business is like this. THE ONLY EXCEPTION is something that provides residual income, and these days that is film, sync music, orchestration, KZbin, or some online "master class" course. That's it.

[@jonnykanesantos]

I’m actually pretty good at this. To the point where I should take some more chances on like buying ad space, etc. My lady says I’m too hard on myself financial, but you know your Boi gets a new guitar every couple years at least! lol

[@gowthamg2261]

Every time I see Adam, I come out of my comfort zone and start working on music! Adam's videos are part of my growth!

[@PartyObeyAwesome]

Life is not hard. It is what you make of it. Solutions in this video is to minimize your expenses. Dont buy a car/house you can't pay, get cheaper phone plan, have emergency money, and invest in roth IRA or some long term investments to retire earlier, this shit is easy. Just be frugal and read a couple of business/finance books to get smarted. A couple of books i would recommend is rich dad poor dad, four hour work week and Dave ramsey total money make over. Great video keep uploading bro good thing you learned this lesson now.

[@saintperezmusic]

Are you doing well financially?

[@Dead-dudes]

This is fuckin hilarious

[@rolandmarckwort]

I think the real question is yes, all these skills are fabulous and worthwhile and have value - but how to convince people to part with their cash to actually put monetary value on these skills we all have? Seems there is zero money to made these days in music given the current scenarios. So much has been devalued or clients seem to think "oh I'll just do it myself" be it mixing a track(s), editing video, or doing promo work....

[@loveme1641]

Appreciate the advice. I have a feeling this may come in handy in the near future. Also, that shirt 😆😂

[@skiesengine1836]

It is especially important for those, who are "starting to succeed". The t-shirt rules 👍

[@sundaynightcoffee]

This is definitely something that a ton of people need to hear, not even just musicians/beatmakers. Having financial security definitely leads to a sense of freedom in your life, to live that much more stress free. Like you've said in a past video breaking down 24 hours, its doable to treat it even as 2 jobs, 1 full time the other even part time (4 hours) is alot to of time to accomplish helluva lot. Preach it Adam, amazing big brother like life advice.

[@tapesone2]

Been through all of this bro. Everything you said is accurate. Its no joke.

[@johnjohni7779]

i have a lot of song,composing and at the end im broke on spending for music but the 2020 was hard for everyone and we lose a lot ..a lot

[@SanathKumarNaibhi]

Thank you soo much for this! Artists can't live without Art but they can't survive with just Art. You can succeed only if you survive. Many artists, including me, realise this late.

[@FXWLL]

Well the name of the thing that is happening that can't be named has meant my job as a live sound tech is no longer viable so I'm currently in the process of setting up a small sample pack business plus looking into other revenue streams in music to feed into my own music promo. My fiancé is working so we can live humbly on her wage until my multiple streams become profitable. It's definately not easy and I didn't expect it. However it has given me the boot up the **** that I needed.

[@jaytorantino]

Im an artist I would like to know how can I love forward with no equipment, camera or anything cause right now I'm broke and there's nothing I can do What do you think I should do Adam Ivy

[@mya5325]

You had a way to post this comment, put it to use. Whether it be a laptop, phone, camera, there are ways to make it happen man. Work hard, you got this!

[@MoCityJonesbeats]

Use what u have til what u have pays for what u want is what he would say

[@adamivy]

Mya hit it right on the head. Stop making excuses and use what you have.

[@AdamizedBeats]

Collab with someone who is trying to build themselves up too. Yall help eachother out

[@colinrussell2017]

"You want to be rich? Live like a student." - Mark Cuban

[@JFredric]

I work side carpentry jobs to float studio time , support two children , live in Los Angeles , do commercials as an actor ( when fortunate enough ) write - produce - its 120% full steam ahead or into a collision 💥... rinse repeat 🔁 fail 95% of the time .. I succeed in the space where majority give up .. It . Is Constant. Hustle. Most are not cut out for the journey if fame is your beginning goal 🥅 Cheers !

[@NicoSantanaMusic]

Great video! Practically, save 3-6 months worth of expenses before you start splurging on things you don’t need. If you’re an entrepreneur, 6-12 months for those dry months.

[@TiagoReeves]

I’m an onboard musician on a big cruise line, also I make my own music independently. With my onboard musician job, I’m getting richer and richer, because I use that salary from the cruise line’s job to invest in crypto and real estate, so yeah, you don’t need a label to live from music

[@shanebyrns2638]

This was so good, Adam! I definitely know the struggle. Had to keep my day job as a public school music teacher until I had more clients come into my studio.

[@afrosensei5308]

I'm definitely not there yet. Besides the occasional beat sale, most of my income comes from the day job, and I'd probably need to have more than the monthly income to quit and do music full time because as I've come realize, drag ain't cheap:).

[@suzerain]

Just what I needed! Thank you, Adam! 👊

[@trevorbrown716]

I'm 100% feeling this man, it's been a rough month but you put things in perspective. It's that time of year when artists aren't really worried about buying beats or working on music. I need to get better at saving money because it's not always coming in for me. Appreciate this video and everything that you have helped me with brother, it means a lot! ✊🏾

[@adamivy]

I appreciate you too man. Seriously. 2021 will be a booming year for you. You still gotta get on TheCharts too. ;-)

[@novmelab]

Please pay attention to this. Adam is telling something important that happens in every country, every place and the music industry in general.

[@lucasvaleti]

I needed to Hear that man. I made $7k last month songwriting thought I’d make the same this month but it’s literally half this month and I need $2k more for a music video shoot in Dubai in 20 days. Thanks brother!!!

[@rolandmarckwort]

How are you making $7k a month songwriting? Thats not easy or typical....

[@lucasvaleti]

Roland Marckwort It’s been 3 years of grinding moving out to LA meeting clients building up my business. Only started making money off of it like last year September. Been making music for 11 years now. I’m 21.

[@dongohvfv8914]

I just start making originals and posting it on soundcloud to build a fan. Base then an old sinus infection hits me and it got so worse that I can hardly hear my own self but hopes are high nothing is broken I will if I try and most of us musician have no job security I have a request to all of the artists music producers beats makers build a community of artists and producers working and helping together

[@brian_b_music]

I see your videos all the time and I’ve never clicked on one. I’m glad I clicked on this one, I’m in the process now of getting a better job just to have more to really do what I want with my music. I’m out here in the social space getting good feedback from listeners and other artists alike. It’s just like you were saying though, I want longevity, a real music career. That only comes from keeping my priorities straight! Thanks for this video man!! If no one else needed it I definitely did!

[@ZoneDiem]

Save it all

[@bboymac84]

Organize it and the right people will come. Help the right people me make connections and teach people. Use your surroundings and don’t sleep on what you can do. You capable of big moves. Trust me

[@shangodanieldelysan]

Bro, I just laughed at myself, at 2:35 when you are mentioning the age of your audience and yours... I'm digging your videos, and taking your advice as a brand new person... though I'm already 44, jajaja... but feel like a millennial for this matter!!!

[@shangodanieldelysan]

I meant 2:22

[@AudieBOfficial]

Thank goodness for notifications 💯💯💯🖤 Yesss tysm for the video drop

[@linfr8066]

Pristine advice🎶🎶👍🏻 well said. It's a wonderful feeling creating & loving what we do in the music world but we have to put things into perspective first then one can flourish then reap the rewards 🤗🙏🏼

[@Similee]

Lost my job a few weeks ago. Of course I swallowed each day there with pride to just coast while I go to Berklee college of music online. Going all in with no option. It’s time. It’s a transformation period. And so far I feel more lost than ever. Even though I am active and listening to advice. I still feel lost. These videos. Truly help bridge the gap and keep the motivation to find a way. Thank you for relating to us. I’m coming back for the next one. And I’ll give you an update

[@mj11222]

Hang in there...God Is With you. He Will Take Care of you. Keep The Faith. I'm speaking from experience. Blessings to you! 🙏

[@FergalNash]

Online promo is a big issue for me. Which one's are worth investing in to increase your sales and profits? I'm considering Music Gateway, some people telling me they are one of the most genuine. Any experiences here?

[@AdrianHogstrom]

Thanks buddy needed to hear this, yes this has been a real thing in my life! I solved it by getting myself a job again and go back to being hobby musician until pandemic is over :)

[@arthurmain8639]

It's really hard to balance between 9-5 job and music career + everyday things that needs to be done. I am still new in all this online stuff but I make myself a schedule for every hour in a day and I can tell that helps a lot! I would suggest everyone to do the same no matter what you do! Great video Adam! Thank you !

[@estebanmolina7748]

Patience is part of the key. One of my favourite videos, you`ve opened my eyes!

[@lukej.hughes7761]

Adam, I am just getting started with my music career. I subscribed to you because you keep me motivated and focused...looking forward to the coming videos!

[@r.c7703]

ths guy actually wants us to succeed! thanks for all the advice !

[@officialmaar]

this is a good topic

[@adamivy]

Thanks! I get a lot of emails and DM’s about this. Hope this helps a lot of people.

[@AfterlifeStudios]

This is great info🔥 I dig that you dive into the business side of making music. I feel it’s super under represented on KZbin. Thank man❤️

[@relaxationdaily]

I'm really enjoying your videos! Budgeting is something I've always been pretty good at luckily. I've never really been a "binge spender" or whatever you want to call it. Sometimes I do get the urge though, but it's for things I really need to improve my quality of life. I think I'm on the correct path to financial freedom for sure and fulfillment with my music which I'm grateful for every day. Your videos are motivational and have good reminders to budget wisely, stay humble, and keep grinding.

[@elkabeatz135]

i feel you man. I had a pretty good black friday in sales, but now its very low actually. Also AGaust was pretty horrible. cheers from MADRID!!!!

[@mya5325]

Aye, saw it and clicked immediatly. Gonna be a constant supporter always.

[@adamivy]

Thank you! 🙏🏼

[@GodsUnrulyFriends]

After a bad year, things were picking up for me in 2019. I'd even finished composing my first symphony, and was negotiating with some orchestras. Then the pandemic threw a monkey wrench into my plans. In addition to my music, I work as a radio engineer. I'm glad I have that gig; it qualifies me as an essential worker, and I survived the pandemic financially as well as health wise. Now, I'm working my way out of "Fall back and regroup" mode.

[@montieblanc4074]

My girlfriend already does this. Great advice. I’m going to open a savings account RIGHT NOW it’s free for students anyways🤷🏼‍♂️🙏🏼

[@confidenxxvevo1bup]

Hey Adam I'm from Jamaica I'm always watching your vedios. But I I'm young artist and I'm sign to bmi.. but I dont really know how to start get pay for my music.. im young I don't have a manager but I work with some good young producers that are getting my songs distributed.. No one will share the knowledge with young artist how to actually start getting paid

[@rungleingamtuikhar]

I'm an aspiring rock singer from India. I don't know how to begin marketing or monetize through music? I do covers on KZbin but there are all copyright claimed. And I don't get any views at all. I'm so stuck and frustrated about what I need to do and where I should go. I would really appreciate your advice.

[@growsomeplace9987]

One of the most difficult things to deal with is change. Expect to learn something new that you will need moving forward that is new and different at the minimum every decade, probably every 4 or 5 years. i.e. vinyl, 8 track, cassette, video disk, CD, internet file, mp3 etc. Oh, yeah all those have passed, there is a new thing comming to music and it is just around the corner, those who learn it will learn it will profit, those who dont will be left trying to catch up.

[@baobanger]

Honestly Adam been keeping it real since like 2015 I been a fan since way back. I think since like in HS and I am graduating college this spring 🙂

[@adamivy]

Congrats on graduating college man!

[@baobanger]

@@adamivy thanks man!

[@rileykrischmusic]

you really do give incredible advice

[@wilsonfoss9177]

Very helpful video!!! Thank you Adam!! I just turned 18 and I am moving out in the next month, I just put 50% of my last engineering session in my savings and will continue to do so!!

[@BOBANDVEG]

Are you an artist, or are you in show business. Its 2 completely different things. I got a buddy who was in a pretty heavy, heavy sludge band. They played a few gigs, but didn't make much. One day a guy asked if they did weddings. Butterfly kisses, celebration, chicken dance, forever young , etc.... most of the band said hell naw. So my buddy and his bassist found a drummer and took the gig. They're in high demand now, been doing weddings and bday for years. They still love the metal scene, but they got to make a living. His gf now does photography

[@confidenxxvevo1bup]

Your like a mentor to me I really take your vedios seriously and I would love to start making some cash even feature on one of your beats, how do you feel about dancehall music? Please hit me up or something dont just leave me stranded.. blessed me brother🙏🙏

[@NoEmotion954]

Marry Christmas brother to you and the family

[@jerseymusicman3332]

I really appreciate your videos. I’m not there yet, I have so much recorded but no website, just opened linked in, gotta work on so many things. But these videos help me focus. Thanks!

[@PRODTRI77Y]

oh my god Adam did i neeeed this one!! like u just saved me a whole lot of headache. its hard to distinguish whether i need to save or spend sometimes and this video just really sent home why i HAVE to save almost EVERYTHING I make in order to make this my year. appreciate this one man.. you did one hell of a deed

[@nickis0]

I had 1300 saved in change from carhopping and instead of investing it i used to buy everyone Christmas gifts cause i hadn't before. While i don't exactly regret it i definitely could use that money right about now

[@AbelOkugawa]

Good talk. You are spot on. November through february is very slow in my business of music licensing.

[@josephvibinverghese2612]

Not in this phase yet but planning to be into music and your videos are informative I saw you today for the first time (subscribed 😊) Your videos are helping me out to plan my future Thankyou so much With love ❤

[@nomoresaul]

Music will always be the main work, but yet the side job. So the real dilemma is, how does one find the energy for two full time jobs, one they love but pays nothing, and one they don’t really care about but lets them make music in a home and not an alleyway? It really isn’t a matter of money at all when you think about it. It’s a matter of energy. I could do everything if I had the energy, like my dad has, or like Solar from Mamamoo has. Energy is king. I’ve been cursed with a low amount of it…

[@Champ593]

Finances are so important. Not making that much money but I decided to let this ending year be the last year I do minijobs bc they just leave me depressed and sad, even if the money is good. I do not believe in working for many but I do believe in working up your passion until it makes u money and getting more skilled throughout this process.So with all this time, I focus on getting my career as an artist to the next level in every imaginable aspect. My financial goal for next year is to be debt free and to really be able to live off my music, bc then I will have so much more money to spend and invest freely.

[@auntjenifer7774]

😂Equipment is at least 10X more expensive than it should be, that's why musicians are broke !

[@pankajbeatz]

Merry Christmas ya filthy animal

[@GotBettaBeats]

Great video 💯💯💯

[@chrisfreeq399]

Still deal with this, was never good at saving money. Well, that's another goal then for 2021! 🔥🔥🔥

[@TreckMusic]

The summer time is when I got a lot of my viewers and subscribers here on KZbin. But that is when I really started building my music industry and brand

[@Prunebaboon]

Thanks for the video mate, very relevant and very informative. As are the comments of your subscribers. So thank you to your subscribers too. Subscribed!

[@Nenkanuko69]

Not so long ago I was not paying too much attantion for my epenses, now I'm kinda broke because I was thinking my life would be better, but it wasn't. I feel like I stop growing and take some psycological problems, so you should realize as soon as possible that financial education is important

[@cmakesmusic]

Felt this video deep in my soul for real.

[@k9trainer215]

While you doing this your other hustle can be gig work like Door Dash UE ect. Now you have money to put into your beats. This is how Im keeping hubs a float on the road.

[@gtslikemike4649]

Went from a solid day job with benefits to unemployment in March. Building my music career from the ground up since then, hoping to be financially independent making beats full time by this time next year. Thank you for sharing your insights

[@julienverardo6432]

I just discovered your channel. Man I love your videos. Thank you so much for all the advice and taking time to help the community 👏🏻🥇

[@dannybardon2934]

I love that shirt!

[@alexzuniga5208]

Wow bro you hit home 🏡with this one. Usually after Thanksgiving is slow but this year is rough. I report all my taxes but it's even rough when business is slow

[@Vibesformusic]

I will always make sure to have at least 2 income sources to make sure I have afford with buying gear and other stuff💲

[@itzyaboybugz]

I’m in Tampa Your in Orlando Let’s link brudder

[@PierceThaBeast]

It’s rough man.

[@eyejaykaymusic2242]

This is not related but should I accept a deal to pay 150$ for a collab with a producer that produces for future?

[@michaelbrindley3487]

I'm definitely not over this hahaha not even released anything yet etc covid has flaunted me a bit and figuring out wtf has been really difficult need to come up with some sort of plan to figure how I'm gonna smash it next year as much as I can

[@JCMJustin]

Great video thanks Adam! Super valuable and important principals for us all to follow here!

[@marshallaustin6720]

this is such an epic video, much needed

[@AaronBoothe]

Good video

[@andersonnoronha1647]

thank u!!

[@josueblas8072]

I understand not quitting a day job, but what’s your opinion on quitting college ?

[@beatsby23]

Very honest and motivating words! Looking forward to your videos!

[@kcwonder]

My brother this is such a great gift. Thank you for sharing your experiences in such a real way. I definitely relate, and take your words to heart.

[@daubh2ers358]

wish it was longer

[@jamesrossmusic6013]

Good financial and money handling advice for us all... Thanks Adam!!!

[@hiromusik9761]

Really useful video love hearing your feedback and advice for musicians 😊

[@saintperezmusic]

Thank You Adam - Will take this into 2021🎉

[@bapuflute]

Step by step Experience Expressed and Explained 👍 Necessity and Choice, Need and Option 🥰

[@hectormadrigal3949]

This are the kind of videos i'm a subscriber here on your channel. Thanks

[@freddiekay]

Meanwhile my ultimate dream is making $3000 net. That's all I need. If I make 10k per month I would be rich. I could pay my family's monthly debt, I could buy my niece a proper Christmas present. Even 1200 would be a dream. I'm only 46 second in but this already sounds very disconnected from reality.

[@freddiekay]

Right, so I will amend my comment. I still stand for it sounding quite alienating at first but there are very good points in here. I stand by my statement though, and I always will: I just want to pay rent in a 1bed studio and not starve to death. That's my version of 'making it'.

[@vausforever]

Only time my music stuff is slow is when I'm not releasing music

[@eduxb9140]

This guy is great