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Good luck. Expect peanuts. And have a day job. If you put a great band together, gain a following, and bring people out to shows, you’ll get money from the door and maybe the bar if it turns out your fans are big drinkers. Remember to tip out the sound person and bartenders. You’ll probably clear a hundred bucks. Or about 1/8 of the cost of a monthly lockout you rehearse in.
Don’t even bother trying to make money composing for commercials. There is a spectacular base of amazing people doing that for smaller and smaller scraps of money.
Bringing people to shows get’s the biggest $$$? Yeah?
Are you good enough to be a session musician and go on tour with a big act? Then yes, maybe. Heck, the best musicians in Nashville still play cover gigs for extra scratch when not booked. Best money we made consistently were live gigs. Then occasionally we’d license a track for a few grand for a spot because someone we knew in the industry who liked us.
The main question is, did you want to make money playing your own original music? Or just making money by playing music of any kind? Cover bands/Tribute bands/paid backup musician gigs all pay a lot better than original music. It’s still not a lot, but if you hustle and book a lot of gigs then it’s possible to piece together a modest living (emphasis on “modest”). All this assumes that you’re very competent at your instrument(s) and relatively personable