“Even bands now that have got hit records are struggling to make money”: Adrian Smith says only a “tiny percentage” of musicians can make a living
Making music and making a living from music are two very different concepts, according to Iron Maiden’s Adrian Smith.
The guitar legend, who’s spent decades touring the globe with one of metal’s most enduring bands, recently weighed in on the harsh economic realities of being a professional musician today.
Speaking to AMFM Magazine‘s Paul Salfen, Smith argues that while there’s still room for skilled session players, the odds of earning a decent living from a band – even one with hit records – are lower than ever.
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“Well, play all you want. You can have fun, have a band. Whether you wanna do it with your life, that’s something different,” he says [via Blabbermouth]. “You have to really dedicate yourself. And you could spend what some people would say are the best years of your life, from your late teens all through your twenties, trying to make it and not make it. Depending on how you class ‘making it.’”
As Smith explains, the dream of rock stardom comes with real-world financial risks – and very few artists cross the line into financial stability.
“If you class it as earning money, very few people do,” he says, “unless you’re gonna be in a Top 40 band. And if you just wanna be a jobbing musician, you can learn to read music, you can do sessions. But being in a band, that is a tiny percentage of people in a successful band making money.”
“Even bands now that have got hit records are struggling to make money, because nobody buys bloody records anymore,” the guitarist adds. “And the money is light. So it’s very, very difficult.”
“But I suppose it’s a process, and the process just kind of makes or breaks the ones that stay with it. You almost have to have a sponsor as well, because it costs money to put a band out there. In the old days, a record company would sponsor a band and advance some money until they start making money. [It’s] difficult. But if you’re gonna do it, then nothing will stop you, I guess.”
Smith isn’t alone in voicing concerns about the broken economics of modern music. Guns N’ Roses alum Ron “Bumblefoot” Thal previously echoed similar sentiments – going so far as to call today’s artists “travelling T-shirt salesmen”.
While the barrier to entry for releasing music is lower than ever (thanks to digital platforms and home recording tech), Bumblefoot stressed that the cost of staying afloat remains sky-high.
“If you do get signed, yeah, they’ll give you a lot of money, but it’s basically just a loan at a 900 percent interest rate. And if you get on tour, maybe they’ll give you tour support too at a 900 percent interest rate, basically,” said the guitarist. “So all the money that the label says they’re going to give you, they give it to you, but it all goes everywhere else. Everything is very expensive.”
Similarly, Cradle Of Filth’s Dani Filth has also called out modern streaming culture for contributing to the dwindling paychecks of artists.
“I owe it to my brethren in metal and music not to have a fucking Spotify account because they don’t pay people,” he told Sonic Perspectives. “And it’s not just them – it’s just platforms in general.”
“I appreciate the fact that, from [Spotify], people could discover you from another band and whatever, whatever, whatever, whatever,” Filth added. “I’ve heard it a million times. But I’m old school. I want CDs, I want vinyl. I want my bands to be paid because if they’re not paid, they’re not bands anymore!”
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