Unmasking Capitalism: Are You Following Your Dream or Someone Else’s?

Recently, I was on a panel with other music industry professionals about a topic we don’t typically talk about, but affects us all as creatives: Capitalism. 

Capitalism and economics shape our world, influencing our goals, mindsets, and environments. This raises a crucial question: are we pursuing our own dreams, or simply chasing someone else’s?

In this article I summarize the deep conversation we had about capitalism: what it is, how it shapes the music industry, and most importantly, how creatives can take steps towards empowerment vs. victimhood.

Understanding Capitalism
When I was invited to speak on this panel, I spent several hours educating myself on capitalism, starting with this short explainer video.

Capitalism, fundamentally, is an economic system where private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market. Because of the power structures inherent in the system, it can lead to exploitation and inequality.

Many of the theories that shape economics today were first developed in the 1850s and reinforced in the economics textbooks of the 1960s. These theories have many inherent flaws that do not take into account human thriving or ecological sustainability and have led to an outsized focus on GDP (gross domestic product) or income as the primary measure of success. 

Shaping the Music Industry
In the music industry, this translates into the commodification of music, where artistic creations are treated as products to be bought, sold, and traded (or a service, if performing live). This economic framework significantly influences how music is produced, distributed, and consumed. 

To further complicate things, the music ecosystem includes various interdependent entities: artists, management teams, venues, promoters, labels, and support services, each with different business models focusing on specific revenue streams like ticket sales, alcohol sales, guaranteed artist fees, merchandise splits, and intellectual property/royalties.

Challenges for Artists
As an artist, you probably didn’t opt to take Econ 101 in school. 

Artists often lack formal education in economics or business, and there's a myth that talent alone guarantees success. However, independent artists increasingly run their careers like businesses.

According to MIDia Research, “95% of artists are what we call ‘artist direct’, i.e., artists who release music independently.” The study goes on to say, “Many of the factors and metrics that underpin success are embroiled in the vested interests of the music industry machine and rarely set in the context of artist's own goals.” 

In other words, we’re letting capitalism unconsciously define what success means and therefore going after goals and dreams that aren’t actually our own. 

Algorithms on social media platforms now dictate how creators reach their audience and if you don't play their game, you seemingly lose to competitors who will. This is an example of a multipolar trap, "when individuals have an incentive to act in ways that are beneficial to them in the short term, but detrimental to the group in the long term."

Privilege and Oppression
Kyleen King, a panelist and touring musician now studying social work, views capitalism as a system of privilege and oppression. Those with the most capital (money) hold the most power, while artists, as workers, often face exploitation.

Mont Chris Hubbard, Secretary of the American Federation of Musicians (AFM) Local 99, emphasized how unions can support and protect workers from these imbalances.

High Competition and Self-Blame
The principle of supply and demand makes the music industry highly competitive. Limited jobs and many aspiring artists create intense competition and a challenge to cut through the noise.  

Media portrayals of overnight success and starving artist stereotypes contribute to the idea that "whoever wins must, by default, be the best," which as systems think Daniel Kim writes, is an "implicit assumption of the competitive model." If one doesn't achieve commercial success, then capitalism (characterized by a win-lose philosophy) makes us think it’s because of a lack of talent or effort. 

This mindset has become deeply embedded in our collective psyche, especially in the West.

Economic systems thinkers such as Donnella Meadows talk about success to the successful archetype, where “​​success can be determined by structural forces and initial chance, as much as by innate ability or talent.”

In other words, it’s a cycle where the winner of a competition is given the means to continue winning, leading to further inequities. The rich get richer and the poor get poorer, etc.

​We think we're doing something wrong or there's something inherently wrong with us, but there can also be a much more complex system at play that truly has nothing to do with us personally. We blame ourselves as "not talented enough to make it," or feel rejected by the world when we struggle to find a market for our artistry. 

Because of the underlying capitalist narrative we've all been unconsciously conditioned to believe in, it’s just easier to feel victimized or just stuck in frustration.
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At the end of the day, most of us creatives are just trying to figure out how to stay connected to this thing we love (our art/music) and also pay our bills.

So, what can we do? 


Steps Toward Empowerment

1. Be Kind To Yourself. Artists are by nature, sensitive. Our sensitivity helps us see and feel in the world in a different way, which helps us create and express our artistry. Be gentle and kind to yourself as best you can, knowing that attempting to put your artistry out there in a capitalist environment can feel harsh and antithetical to your original intentions of becoming an artist. It's easy to be swept up in other people's agendas, hurt one's ego, or destroy your self-confidence. If that happened to you, be kind to yourself and come back to your own authentic path, however you define that.

2. Educate Yourself on Economics & Business. If you want to keep pursuing an artistic career or business, understanding the economic forces at play can empower you to make informed decisions. Knowledge of contracts, revenue models, and market trends can help you navigate the industry more effectively, ensuring you are not taken advantage of and can advocate for fair compensation.

As I shared during the panel, asking yourself the deep questions and getting clear on what you want is a great place to start.

3. Embrace Independence. The digital age has empowered artists to bypass traditional gatekeepers. Embracing independent production, distribution and self-representation allows artists to maintain creative control and receive a larger share of the profits. Platforms like Bandcamp and direct-to-fan sales models can be viable alternatives to traditional label deals.

4. Build a Supportive Community. Community support is crucial. By building networks of like-minded creatives, artists can share resources, collaborate, and support each other personally and professionally. This collective approach can amplify voices that might otherwise be marginalized and create a more equitable industry landscape.

5. Advocate for Change. Use your platform to advocate for industry-wide changes. Pushing for fairer compensation models, transparency, and support for independent artists can drive systemic changes. Engaging with industry organizations, joining a union, and participating in advocacy groups can amplify these efforts. 

The discussion on capitalism and the music industry is a complex but necessary conversation. 

It has inspired me to explore more regenerative economic models. What would a more artist-centered and equitable music ecosystem look like? Let’s keep the conversation going.

Listen to the full “Music & Capitalism” conversation here (some language NSFW).


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Cheri Jamison is an Arts Consultant with over 13 years of experience in the arts and nonprofits. Cheri Jamison Consulting LLC focuses on strengthening organizations through capacity-building, executive coaching, board training, and professional development. www.CheriJamison.com