With digital downloads, falling album sales and rampant piracy, what’s it like trying to establish yourself as a new performer in today’s troubled music industry?

Well, in the words of one UK music business professional: “It’s like trying to create a hurricane by running around a field in circles.”

Artists can no longer depend on labels to finance their projects and invest in building their careers. Long demonized, it appears the true value of investment capital, expertise and contracts are coming into focus for today’s new artists.

In her guide – entitled Easy Money? – Ms Harris identifies six main sources of money for music projects:

• grants
• friends and family
• crowdfunding
• sponsorship
• debt
• investment

She says that during her 15 years in the music industry, it has “moved from an internal funding model to having to go to external sources” for cash to kick-start projects.

Normally, she says, musicians are looking for about £5,000 to £10,000 to fund a specific project, such as a record or live appearances.

READ THE FULL STORY HERE AT THE BBC UK:
http://www.bbc.co.uk/news/business-24249918