Whilst they face challenging financial conditions, Musicians are able to leverage their skills in other occupations and industries. Throsby and Zednik estimate that musicians and composers fare better than other artists, having higher annual incomes that have fared better over time (most artist incomes have not kept pace with inflation). Composers are one of the only groups to have increased their incomes over time in real terms.
Two-thirds of practising professional musicians and composers are able to cover their costs of living with their total arts and non-arts income (65 percent and 63 percent respectively) – compared with smaller proportions of other types of artists.
