According to the U.S. Bureau of Labor Statistics, the median annual wage for songwriters was $49,160 in May 2020. The top 10% of earners made more than $118,000, while the bottom 10% earned less than $25,000.
Songwriters generally earn money through a variety of sources, including royalties, licensing fees, and performance fees. Royalties are payments that are made to songwriters when their songs are played on the radio, streamed online, or sold in stores. Licensing fees are payments that are made to songwriters when their songs are used in movies, TV shows, commercials, or video games. Performance fees are payments that are made to songwriters when their songs are performed live.
The amount of money that a songwriter earns can depend on a number of factors, including the popularity of their songs, the number of times their songs are played or streamed, and the terms of their contracts with record labels and other entities.
Songwriting can be a rewarding and lucrative career, but it is also highly competitive. There are many talented songwriters out there, and only a few of them will achieve significant success. If you are passionate about songwriting, it is important to be persistent and to never give up on your dream.