You've probably heard it at a family dinner: "That's nice, but how will you make a living with music?"

For decades, the phrase "starving artist" has clung to music majors like static to a concert outfit. It’s a narrative fed by old sitcoms, disapproving relatives, and career advisors with outdated charts. But in 2023, this myth doesn’t just need a rewrite—it needs a standing ovation exit.

Because the truth is: music is big business.

Not side hustle big. Billion-dollar big.

Follow the Money: The Real Numbers

In 2023 alone, the U.S. music industry generated more than $45 billion in revenue. And that’s just the beginning.

Let’s break it down:

• Recorded Music: brought in $17.1 billion, according to the RIAA, marking the eighth consecutive year of growth.
• Broadway: 36 shows grossed $1.75 billion, while touring productions added another $1.3 billion, totaling $3.05 billion.
• Gaming: $8.7 billion was spent on music for games and apps—paying composers, producers, musicians, and orchestrators.
• Film/TV/Streaming: Music accounted for 18.7% of the U.S. film and entertainment sector’s $96.3 billion revenue in 2019—and that number has only grown with YouTube, Netflix, and TikTok integrations.
• One Artist, One Empire: Taylor Swift alone generated $1.8 billion from sales, streaming, concerts, and publishing in 2023.

When you total it all up—streaming, performing, publishing, licensing, education, instruments, film scoring, and video games—the 2023 U.S. music economy intersected with over $46.8 billion in spending.

But Do People Still Listen to Music?

Absolutely—and more than ever.

According to U.S. News & World Report, in 2023:

• 54% of American adults listen to music daily.
• Another 20% tune in several times a week.
• Streaming is up, yes—but so is radio, vinyl, film scores, and live events.
• Gen Z and Gen Alpha are consuming music around the clock, often paying for premium subscriptions or concert tickets.

That means the demand for music—and the professionals who create, produce, and perform it—is only growing.

These aren’t flukes—they’re snapshots of an industry with serious financial muscle. Yes, superstar musicians are rare. But they’re no more rare than top surgeons, top athletes, or elite lawyers.

The average working music professional has more income opportunities than ever before—from touring and licensing to teaching, tech, arranging, and scoring for digital media.

The Music Education Machine

Where does all this start? In a school band and orchestra room, a church choir, or a garage studio. Music education is not just sentimental—it’s economically massive.

According to national data:

• Over 342,600 individuals are employed as music educators.
• Americans spend more than $10.3 billion annually on lessons and instruction.
• Another $4.5 billion is spent on instruments, accessories, and repairs.
• The retail sector for music education employs 36,440 workers earning a combined $1.5 billion in salaries.

Add it all up: the U.S. spent over $16.4 billion on music education in 2023.

That's not a fringe expense. That’s investment at scale.

And the Payback? No Student Loans for Malpractice Insurance

Compare this to the average pre-med or law path:

• Up to 12 years of schooling.
• Average $250K+ in student debt.
• 11% of earnings lost annually to malpractice insurance.
• Work-life balance? Often nonexistent.
• Career burnout? Sky-high.

Now consider a music professional:

• May graduate in 4 years.
• Often receives scholarships or assistantships.
• Pays $0 in malpractice insurance.
• Can freelance, teach, create, license, and perform—all at once.

And they’re building a career in an art form that brings joy, expression, and meaning into people’s lives.

Final Thoughts: Why Music Majors Might Just Win the Long Game

Let’s finish with facts, not fear.

Yes—music is competitive.
Yes—you have to work hard, be versatile, and keep growing.
But so does every professional in every high-paying industry.

The difference?

• Music professionals can build multiple income streams at once: performing, teaching, producing, scoring, arranging, publishing, tech development, and more.
• They don’t carry the financial and legal baggage of fields like medicine or law. No malpractice insurance. No $250K in student loans.
• They can pivot—into education, entrepreneurship, nonprofit leadership, media, or tech—without abandoning their art.
• And most importantly: they can do what they love and still make a living.

Now here’s something most people never hear:

A music producer, arranger, or songwriter can earn royalties on a hit song for decades—sometimes their entire life.

A surgeon performs a hip replacement and gets a one-time payout—negotiated by an insurance company.

But a musician? The public determines the value of their work, and if the world keeps listening, the money keeps flowing.

Need proof?

The song “Everlasting Love” hit #1 in three different decades, generating royalties every time it played on the radio, was covered by another artist, or used in a commercial.

That kind of long-term residual income simply does not exist in most other professions.

And here’s one more surprise:

Undergraduate music majors consistently rank in the top three accepted majors into U.S. medical schools. Why? Because music majors know discipline, pattern recognition, time management, and performance under pressure. Medical schools notice.

So to the parent wondering if a music degree is “worth it”:
Don’t just ask what it costs—ask what it creates.

To the student chasing this path:
You’re not foolish. You’re not naive.
You are entering a global industry with room for innovation, leadership, and lasting financial success.

A career in music isn’t just viable—it’s vibrant. It’s lucrative.
And it might just out-earn the M.D. next door.