While we’ve heard the horror stories about the music industry, Chloe Bailey reveals some of the real reasons that artists don’t always make a lot of money.
“Musicians don’t make a lot of money in the music industry,” said the 23-year-old entertainer during an appearance on “The Terrell Show.” “That’s why you see a lot of people – they have brand deals and brand sponsorships because that’s where the coin comes from. And touring. But [with] music itself, you’re actually losing money.”
While most of the facts that Bailey offers on the industry might not come as a surprise, one thing that she says she was shocked to learn came from producing records for Chloe x Halle – the musical group where she performs alongside her sister, Halle Bailey.
“You wanna know something else?” she asked. “I learned this because I would produce sis and I’s records. Producers outside will get paid a huge lump sum. But, because I would produce sis and I’s records, I couldn’t get paid because I was a producer within the group.”
Despite the downsides to the industry the “Treat Me” singer reiterated some of the ways artists can see an actual profit from their artistry.
“The good is that, even though you lose money in the music business, you get a coin from everything that comes from the music you’re making,” she continued. “So, the music is almost like the ad.It’s a business. And it’s sad to think of it that way, but that’s why tours go big… that’s where you make your money. And the big brand deals.”
Her journey as a solo act has taught Bailey the importance of approaching the music industry with a business mindset.
“I have to have multiple hats. Me, as a creative, which is where I want to spend most of my time,” said the “Grown-ish” actress. “But I also have put on my business mind hat. Because, if you don’t,you could get screwed over.”
And speaking of being a solo artist… Bailey confirmed that her debut album is officially complete. While she notes that the label ultimately decide when the highly anticipated project will come out, it gives all the summer feels.