How Musicians Are Making Money in 2025 | Cheat Codes Story
Dec 28, 2024
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Trevor Dahl and Matthew Russell, members of the electronic music trio Cheat Codes, dive into their journey from breakthrough success to navigating struggles in the music industry. They discuss the impact of streaming on finances and the importance of maintaining authenticity while building connections with fans. The duo shares insights on maximizing earnings through live performances, the challenges of touring, and adapting to the ever-evolving digital landscape. Their commitment to resilience and collaboration shines through as they explore innovative strategies for sustaining a successful independent career.
Cheat Codes highlights the significance of independence in the music industry, allowing them to maintain creative control and earn substantial streaming royalties.
Their DIY approach during early career stages fostered versatility, enabling them to quickly adapt to trends and capitalize on listener demands without label constraints.
The group's focus on networking and collaboration emphasizes the necessity of building industry relationships for sustained success and innovative music ventures.
Deep dives
The Dynamics of the Music Industry
The music industry is increasingly characterized by competition and strategic maneuvering, as exemplified by the ongoing Drake and Kendrick beef. Labels can leverage inter-artist rivalries for marketing advantages, such that winning a beef can be financially beneficial for the label. This interplay shows how labels, like Universal, can pit their own artists against each other to enhance sales and visibility. Such dynamics highlight the complex fabric of relationships and strategies that define modern music marketing.
Success as Independent Artists
Cheat Codes emphasizes the importance of independence in the music industry, especially since they left a major label to pursue their career independently. They manage to earn significant revenue from streaming, as they receive a substantial cut of royalties per million streams on platforms like Spotify. The group has amassed billions of streams, enabling them to earn tens of millions of dollars while maintaining creative control over their music. Their methodical approach includes monthly releases, allowing them to maintain relevance and engage with their audience effectively.
The Shift to DIY Production
Cheat Codes’ early days were characterized by a DIY approach to music production, which provided them the flexibility to experiment across genres without being hindered by typical label constraints. They initially produced, mixed, and released music on their own, which gave them a competitive edge over major labels that often face extended production timelines. The shift to independent production allowed them to rapidly respond to trends and the demands of listeners. Their success from this approach led them to understand the Spotify ecosystem and playlist curation, which has driven much of their visibility.
Navigating the Performance Landscape
The group shared insights on the complexities of touring in today’s music landscape, balancing between one-off performances and full bus tours. Performing at clubs allows them to minimize logistical hassles, making it easier than embarking on longer tours that require substantial equipment and team coordination. They note that the nature of DJ performances enables them to have financially favorable opportunities, offering a more profitable experience than traditional band setups. Through their touring experience, they recognized the importance of maximizing exposure while managing the financial intricacies of live performances.
Marketing and Relationships in Music
Building and maintaining relationships in the music industry is essential for long-term success, and Cheat Codes recognizes the importance of networking. They actively reach out to both established and emerging artists for collaborations, which can lead to innovative music projects. Their willingness to engage with various industry figures, including songwriters and performers, reflects their understanding of the business side of music. The group also opines that being grounded in business practices is crucial, especially in a landscape where collaboration can enhance creativity and help navigate the often-complex relationships within the industry.
Future of Music and Content Creation
Looking ahead, Cheat Codes acknowledges the transformative role of content creation and social media in the music industry. They plan to enhance their presence through podcasting and streaming, allowing fans to connect more personally with them. The musicians emphasize that sharing genuine experiences and discussions can deepen audience engagement, making their music more relatable. They aim to leverage their strengths as producers and songwriters while also adapting to the evolving landscape where connection and authenticity matter significantly.
In this episode of The Wealthy Way, we have a conversation with Cheat Codes, the Los Angeles-based electronic music trio that has taken the world by storm. With over 5 billion streams to their name, Trevor Dahl, Matthew Russell, and KEVI have seen both incredible highs and challenging lows in their journey to success.
We dive deep into the moments that defined their career—from their breakthrough to the struggles they’ve faced along the way. They open up about what it takes to stay relevant in a constantly evolving music industry, why they chose the independent route over signing with a major label, and the importance of building strong relationships in both music and business.
In this episode, you’ll hear firsthand how Cheat Codes navigates the balance between creating hit songs and staying true to themselves. They share insights on the cost of making a chart-topping track, the importance of networking, and why staying grounded as an artist is key to longevity. Plus, they reveal how they’re positioning themselves for the future of music, from live streaming recording sessions to exploring new revenue streams.
What’s even more valuable is the lessons they share on resilience, adaptability, and creating a business that thrives without sacrificing your personal life. As entrepreneurs, they’ve built a brand that resonates beyond just music, proving that success in any industry requires a mix of passion, persistence, and balance.
Connect with Cheat Codes: Website: https://www.cheatcodesmusic.com/ IG: https://www.instagram.com/cheatcodes/ Youtube: @CheatCodes
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generat...
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