How do top musicians like U2 and Beyonce make money?
Business Insider suggests that it doesn’t merely come from streaming.
Erin M. Jacobson, a music-industry lawyer based in Beverly Hills, explains “In the last several years, streaming revenue has increased, but it is still not enough on its own to financially support a career with longevity,”Most musicians reportedly stack their cash from touring, merchandise sales, licensing their music for things like TV, film, or video games. Partnerships and side businesses also pay big bucks. According to INSIDER U2 made $54.4 million in 2017, making them the highest-paid musical group of 2017. The Insider adds, “$52 million, came from touring, while less than 4% came from streaming and album sales.”
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