Just popping by, thought I’d contribute
When you say making money, what do you mean?
In most reasonable size towns there are one or two pretty good function bands working hard and making a modest amount of money playing covers at weddings.
In most big cities there are one or two fresh new bands doing the live circuit and making beer money. some of these will get picked up by an indie label and paid almost proper money for a year, tour release an album and then sink into obscurity, maybe one or two each year may make that leap into the big time and become the next Muse, some will last a while others will not.
Meanwhile the big media companies will manufacture a handful of autotuned pre-fabricated shrink-wrapped acts and market the hell out of them and the auto tuned pre-fabricated shrink-wrapped act will make a great deal of money for a very short time. Almost none of them will ever be remembered in 10 years.
But on the whole, for the vast majority of the people in the ‘music business’ are not really making much at all.
On the production side, there is pretty much no money to be made and that’s why there are very few new studios around, and why even some of the most famous are struggling. Even at the top of the tree, big name producers who can count among their credits the likes of Madonna, Genesis, U2, etc are only living in modest houses driving modest cars. It is not a business where many people on the operational side of the glass ever get to drive a porsche.
I will recount a small tale.
Back in the day (I.e. when there was enough money around it allowed EMI to indulge Pink Floyd the luxury of giving them the keys to abbey road for a year) A friend of mine lucked into a job as an engineer in a rather prestigious London Studio.(when such jobs were to actually be had) Over the next few years he worked at most of the big studios in London, winding up as the studio manager and in-house engineer for the personal studio of someone who is a household name and seller of millions of records over a long and illustrious career. From there my friend set up his own residential studio, in partnership with someone else and an investor. The gear in the facility alone cost a large 7 figure sum. During those days he was recording big A listers, plus meanwhile he was recording stuff in his own right with a band and they were doing pretty well (well enough that gold disks were bestowed) They could not make that place pay, whoever they had in there recording whatever hits, and in the end it was sold. When I got to know this particular person he was living in a rented flat, didn’t have a car and was working for a small provincial theatre. His walls are bedecked with gold and platinum disks, His phonebook is full of household names, many of whom he’s on first name terms with… I’ve heard his work as an engineer. This guy is good… Really good. Now he’s not in the biz at all and has gone into the catering industry. Not, I am sure an uncommon tale.
So take swamptone’s advice. Get a job that pays well enough to subsidise your music.